April 2018 Newsletter

Dear investor,

Welcome to our Volpara Health Technologies (ASX: VHT) newsletter for April. Earlier in the month we reported the strong results we achieved for FY2018—specifically that we met and exceeded our annual recurring revenue (ARR) commercial milestone. In targeting NZ$3.3M (200% growth), we actually achieved NZ$3.6M (223% growth).
The Company also exceeded several other targets: our Total Contract Value (TCV) grew to over NZ$11.2 million, a 173% increase over the NZ$4.1 million of FY2017; our VolparaEnterprise customers increased to 57 from 14 the previous year; and approximately 3.2% of all women screened in the United States (approximately 1.27 million women) are now contracted to our software, ahead of the year’s target of 3.0%.

With a strong FY2018 now behind us, we turn our attention to the promise of the coming year, and will update the market with our exciting FY2019 targets in due course. We encourage you to take a look at all the new developments we’re excited to share with you:
We hope you enjoy reading our latest news, and we look forward to updating you with the Company’s future progress.
Ralph P. Highnam, PhD
CEO & Chief Scientist
Volpara achieves further validation of leadership in Automated Density Assessment
The Tomosynthesis Mammographic Imaging Screening Trial (TMIST) has purchased VolparaDensity software to measure breast density with the aim of understanding breast density’s impact on screening performance in both 2D and 3D. TMIST is a randomised breast cancer screening trial funded by the US National Cancer Institute (NCI). Begun in July 2017, the trial is expected to recruit 165,000 women by 2020. 

VolparaDensity software is the only FDA-cleared automated density tool which covers all the most common mammography (2D x-ray) and tomosynthesis units (3D x-ray).

In addition, a second big research program, the WISDOM trial, has indicated that it has selected VolparaDensity software as its automated density tool. WISDOM is being run across the University of California (UC) system and is headed by Professor Laura Esserman of UC San Francisco. The aim is to enrol 100,000 women in a randomised control trial of personalised screening based upon risk of developing breast cancer.
Volpara’s path to sales pipeline visibility

During FY2018, we began targeting Integrated Delivery Networks (IDNs), large healthcare delivery organizations operating under a parent company that either own or manage multiple points of care from hospitals and clinics to long-term care facilities and everything in between. Some even offer their own insurance plans. IDNs leverage their size to increase purchasing power, but once you have a master agreement, selling to all the individual hospitals within the IDN is much more straightforward.

We targeted the bigger IDNs with our VolparaEnterprise software to help their larger constituent institutions manage the quality of every mammography image and improve the productivity of their staff and equipment. The results are encouraging: we have now either signed master agreements or sold into 20 of the top 100 IDNs. Additionally, we have clear line of sight and relationships with another 30, and we’ve submitted quotes to many of these. 

We estimate we now have clear sales visibility to 20% or so of the 40 million US women screened per year via IDNs and sales leads generated from marketing campaigns and word-of-mouth referrals—we enter FY2019 with major opportunities ahead.

BreastScreen Australia to hold Its Biannual Meeting in Adelaide this week
From 19 to 21 April, BreastScreen Australia will be hosting its biannual event in Adelaide. This gathering sees 400 delegates from across Australia join numerous clinicians from around the globe.

Volpara users will feature prominently, with keynote speakers including Prof Andy Evans from Dundee, one of our core researchers for the last few years on breast compression, density, and pain; Prof Sophia Zackrisson from Malmö, Sweden, one of our oldest research partners in density; and Dr Jennifer Stone, a long-term density collaborator at the University of Western Australia in Perth.

Meanwhile, Dr Mary Rickard will be presenting on our work at a sold-out breakfast, with additional science talks about Volpara from BreastScreen Victoria and South Australia. We will be exhibiting at the show, so if you are in Adelaide, please do stop by and say hello.
Volpara goes to Las Vegas for the SBI/ACR Breast Imaging Symposium
The Society of Breast Imaging, with the American College of Radiology, held its annual conference in Las Vegas from 12 to 15 April. Hundreds of attendees, largely breast specialists, were present to continue their education in all aspects of breast imaging. The lectures covered a wide range of topics applicable to Volpara, from breast density and risk assessment to quality of mammography.
Many attendees also spent considerable time in the exhibits, with a large portion of them visiting the Volpara Solutions booth. 
Volpara sales team member Dana Ahrold (second from right) with prospective customers.
The event, also the site of Volpara’s annual sales training meeting, provided the sales team the opportunity to meet new sales prospects as well as move those already interested closer to ordering our products. The annual SBI/ACR meeting remains one of the best targeted conferences for Volpara’s breast imaging products and was an outstanding success for us.
The Volpara contingent, representing the sales and marketing, engineering, and operations teams.
Volpara and Mammography Educators Partner to Launch VolparaEnterprise Training Videos
Volpara has partnered with Mammography Educators LLC to produce training videos for mammography positioning that are integrated into the Company’s latest release of its VolparaEnterprise software. Designed to help technologists improve the quality of breast imaging, the videos provide positioning overviews for craniocaudal (CC) and mediolateral (MLO) projections, as well as guidance for common positioning performance issues. Topics include excessive exaggeration, nipple in profile, ensuring adequate length for the posterior nipple line, inframammary fold and the length and shape of the pectoral muscle. 

The videos are hosted by Louise Miller R.T.(R)(M)(ARRT), CRT, FSBI, FNCBC, director of education and co-founder of Mammography Educators, who said: “Proper breast positioning is critical for optimal cancer detection, but difficult to assess manually. We are excited to partner with Volpara to make these targeted training videos for more than a dozen common positioning performance issues that can be routinely identified using VolparaEnterprise software. These videos are designed to help improve image quality in a way that is consistent, reproducible and ergonomically sound.”
Volpara in the news
Volpara Health Technologies delivers 200% growth with analysts tipping more to come
Proactive Investors Australia

Volpara Health Technologies Ltd (ASX:VHT), has exceeded the commercial milestone of 200% growth in annual recurring revenue (ARR) set by the company for the 2018 financial year.

This news was well received by brokers and investors alike as the company's shares went close to matching their 12-month high of 80 cents.
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Volpara Health Technologies delivers 200% growth with analysts tipping more to come
Volpara Health Technologies has commenced a major trial to implement VolparaDensity software and risk-based screening into the NHS Breast Screening Program in England.
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Why the Volpara Health Technologies Ltd share price is up 4% today
The Motley Fool

The share price of digital health company Volpara Health Technologies Ltd (ASX: VHT) has risen 4.86% to 75.5 cents in Tuesday’s trading session following this morning’s announcement that it has exceeded its commercial target of 200% growth in Annual Recurring Revenue (ARR) for the 2018 financial year.
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Volpara software selected for NHS breast screening project

ASX-listed New Zealand company Volpara Health Technologies has been chosen to provide its VolparaDensity software to a research project being run by the NHS's breast screening program (NHSBSP) in England.

The project is the second stage of the Predicting Risk of Cancer at Screening (PROCAS) study, which aims to improve breast cancer risk prediction for women attending routine breast screening.
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Breast density in the news
Pink Hope launches density campaign

In March, Pink Hope launched a new campaign, “Don’t Be Dense. Be Dense Aware”. The objective of the program is to provide information and resources for women, advocate and collaborate on the issue of breast density and risk, and provide guidance to GPs and consumers so they know what they can do about breast density. As part of the campaign, Pink Hope have been promoting an information hub for learning about breast density.

Upcoming events
19 April - Breast Screen Australia Conference - Adelaide

30 April - Volpara Health Technologies Q4 Conference Call (9am AEST / 11am NZST)

21 June - ASRT Educational Symposium - Las Vegas 

22 July - AHRA Annual Meeting and Exposition - Orlando 

October - Breast Cancer Awareness Month - Australia 

25 November - RSNA Annual Meeting - Chicago

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