Agfa HealthCare reported that it has signed a three-year agreement to exclusively license Richmond, Australia-based Pro Medicus' practice management and digital radiology software products.
The Greenville, SC-based Agfa said that the licensing acquisition was made to address the large and rapidly growing private imaging center market in the U.S. and Canada.
Under terms of the agreement, Pro Medicus will receive a percentage of software sales backed by minimum payments that increase in each of the three years, Agfa said. A share of ongoing maintenance fees will provide the company with a recurring revenue stream in addition to license royalties. All intellectual property rights are retained by Pro Medicus.
The deal is expected to generate approximately $10 million Australian ($7.7 million U.S.) in the first three years for Pro Medicus, according to Agfa.
By AuntMinnie.com staff writers
April 14, 2005
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