Mach7 Technologies Limited-Veterans Health Administration Contract Update
Mach7 Technologies Limited (ASX: M7T) has received an update regarding its involvement in the Veterans Health Administration's (VHA) NextGen PACS program. The VHA has decided to cease the NextGen PACS program for the National Teleradiology Program (NTP) as initially conceived, issuing a Partial Stop Work Order to terminate the current multi-vendor program.
Consequently, the VHA will continue its partnership with the incumbent vendor. Mach7 had been engaged as a subcontractor for this project, supplying its Vendor Neutral Archive (VNA) and the eUnity Enterprise Diagnostic Viewer. While Mach7 completed initial milestones for Phase 1, which included go-lives for mammography and telestroke, Phase 2 was contingent on the continuation of Phase 1. The cessation of the program means that both phases will not proceed. Despite the setback, Mach7’s CEO, Teri Thomas, emphasized that the company will remain focused on its commercial pipeline and continue its strategy to drive ongoing annual recurring revenue (ARR) growth and profitability.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Mach7 Technologies Limited-Veterans Health Administration Contract Update
Mach7 Technologies Limited (ASX: M7T) has received an update regarding its involvement in the Veterans Health Administration's (VHA) NextGen PACS program. The VHA has decided to cease the NextGen PACS program for the National Teleradiology Program (NTP) as initially conceived, issuing a Partial Stop Work Order to terminate the current multi-vendor program.
Consequently, the VHA will continue its partnership with the incumbent vendor. Mach7 had been engaged as a subcontractor for this project, supplying its Vendor Neutral Archive (VNA) and the eUnity Enterprise Diagnostic Viewer. While Mach7 completed initial milestones for Phase 1, which included go-lives for mammography and telestroke, Phase 2 was contingent on the continuation of Phase 1. The cessation of the program means that both phases will not proceed. Despite the setback, Mach7’s CEO, Teri Thomas, emphasized that the company will remain focused on its commercial pipeline and continue its strategy to drive ongoing annual recurring revenue (ARR) growth and profitability.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au