Medical technology firm Pro Medicus has delivered blistering returns this year. Its success has propelled co-founder Sam Hupert into the $2 billion club.
Sam Hupert has built one of Australia’s biggest companies, and it has thrust him into one of the country’s most exclusive groups: the double billionaires club.
It’s a journey that began in the early 1980s when Hupert, at the time a GP in Melbourne’s Coburg, convinced Hall, a computer programmer he first met at a wine-tasting event, to work on a business with him aimed at bringing computing technology to the medical fraternity.The Australian Financial Review’sIt was 1983, a decade before the internet would become available to the public.
He never did. Pro Medicus has since grown into an $8.7 billion company providing medical imaging software and services to hospitals, imaging centres and health care groups worldwide. Most of its revenue is generated offshore.It wasn’t all smooth sailing. In 2011 Pro Medicus shares languished, hovering around 20¢. Hupert tells his turnaround story on the podcast. It involved “blowing up” its US operations and “starting again”.
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