Breast cancer detection software developer Volpara Health Technologies (ASX:VHT) has signed a five-year Software as a Service (SaaS) contract with BreastScreen Victoria, a public breast screening programme. The contract represents A$1.4 million in TCV.
Under the agreement, Volpara Analytics, business intelligence software, will be implemented to optimise mammography operations at BreastScreen Victoria.
This software provides quantitative measures and guidance to technologists for optimal positioning and compression techniques, leading to a higher-quality screening programme and improved personalised care for women.
This contract further expands Volpara’s presence in Australia, adding to existing contracts with BreastScreen Queensland, BreastScreen South Australia, I-MED, Sonic, IDX, Lumus, Wesley Breast Clinic, and Sydney Breast Clinic, among others.
BreastScreen Victoria, which operates across more than 50 locations in the state, diagnoses 37% of all breast cancers in Victoria. By adopting Volpara software, they join a growing number of healthcare providers in Australia that are investing in advanced technology to enhance the quality of their services and detect cancer at earlier stages.
We are thrilled to have BreastScreen Victoria join the ranks of Australian screening programmes and other healthcare providers already using Volpara’s AI-powered software,” Volpara Group CEO/Managing Director, Teri Thomas, said.
“Australia boasts one of the world’s highest breast cancer survival rates after five years at 91 percent. Both private and public screening programmes, like BreastScreen Victoria, deserve praise for their commitment to improving quality and detecting cancer earlier through technology investments.”
Installation of the Volpara software at BreastScreen Victoria is expected to be completed within three to six months.
The contract includes annual payments and is anticipated to contribute to revenue growth in FY24. The consideration paid upon signing is not considered material. Additionally, the customer has the right to terminate the contract during the initial three-month period if certain product metrics are not met.