Health Care
Imexhs Limited (IME)
Imexhs Limited is a medical imaging software and services provider offering cloud-based Radiology Information Systems (RIS) and Picture Archiving and Communication Systems (PACS) via its HIRUKO platform. The company primarily operates in Latin America, serving hospitals and clinics with a recurring revenue, Software-as-a-Service (SaaS) model. It also provides remote teleradiology services where its radiologists interpret medical images for clients.
Market Cap
A$25M
Shares on Issue
N/A
Price Chart
AI Analysis
With a market capitalisation of A$25M, Imexhs is a speculative micro-cap company focused on growing its recurring revenue base in the Latin American healthcare market. The key metric for investors is Annualised Recurring Revenue (ARR), which has shown consistent growth from signing new hospital and clinic contracts. However, the company is not yet profitable and its quarterly Appendix 4C cash flow reports are closely watched for signs of operational cash burn and progress towards breakeven.
The company's growth strategy is centered on expanding its footprint across Latin America and increasing the penetration of its high-margin SaaS solutions. Key catalysts include securing large, multi-year contracts with major hospital groups, expanding into new geographical markets, and achieving cash flow positivity. The scalability of its cloud-based HIRUKO platform is central to this strategy, as it allows for rapid deployment and creates operating leverage as revenue grows.
Bull Case
- • Strong growth in high-margin, sticky Annualised Recurring Revenue (ARR) from its SaaS platform.
- • Large, underpenetrated addressable healthcare market in Latin America offers a significant runway for expansion.
- • A scalable business model that could lead to significant operating leverage and a rapid path to profitability as revenue grows.
Bear Case
- • Significant currency risk due to revenues being generated in Latin American currencies while reporting in USD and being listed in AUD.
- • As a small, unprofitable company, it faces cash burn risk and may require further capital raisings, potentially diluting shareholders.
- • Competition from larger, well-established global medical imaging players and long sales cycles for enterprise hospital contracts.
Recent Announcements
2025 Q4 Quarterly Activities Report & Appendix 4C
🚨 Price SensitiveThe ASX announcement for ticker IME indicates that Commitments Test Entity has released its quarterly report, with the latest data from Q4 2025 and additional appendices providing further details. Investors should review these documents to assess current commitments and performance trends
Appendix 3Y - Douglas Flynn
Appendix 3Y - Damian Banks
FAQs
What does IME do?
Imexhs provides cloud-based medical imaging software (PACS/RIS) and teleradiology services to hospitals and clinics, primarily in Latin America. Its core product, HIRUKO, helps medical professionals manage and interpret images like X-rays and MRIs on a subscription basis.
Is IME a good investment?
IME is a speculative, high-risk investment. The potential upside comes from its scalable SaaS model and large addressable market in Latin America. However, risks include its micro-cap size, unprofitability, currency fluctuations, and competition from larger players.
What drives IME's share price?
The share price is primarily driven by growth in Annualised Recurring Revenue (ARR), announcements of new major contract wins, its quarterly cash flow (Appendix 4C) reports showing progress towards profitability, and general market sentiment towards speculative technology stocks.
Key Metrics
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