ASX Health Stocks: Global Health nabs Fujitsu contract, Althea generates $5.3m after property deal

Global Health announces deal with Fujitsu Australia
Althea raises $5.32m in sale and leaseback deal
Immutep to present data from TACTI-002 in key international forum

Global Health signs with Fujitsu

Global Health (ASX:GLH), a provider of digital health solutions, rose 5% this morning after announcing a strategic reseller agreement with Fujitsu Australia.

Under the deal, Fujitsu will promote, sell and implement GLH’s products and support services to the healthcare industry across 13 countries within the Asia Pacific region.

The agreement covers the full suite of GLH’s complete platforms including the MasterCare suite of Electronic Medical Records for hospitals, Patient Administration, and HotHealth for online engagement between healthcare providers and their patients.

GLH says the agreement is in line with its strategy to work with resellers that have a strong presence in the multiple jurisdictions that are seeking to digitise healthcare.

GLH believes it could leverage the scale and expertise of Fujitsu, a global company with capabilities and access to new markets and geographies.

This partnership will also help accelerate market growth, whilst also allowing Global Health to maintain a constant focus on improving its software solutions, says the company.

“Together, this strategic relationship will empower customers to improve patient experience, enhance workforce satisfaction and boost population health more cost-effectively,” said Global Health CEO, Mathew Cherian.

Althea generates $5.32m on property deal

Cannabis company Althea Group (ASX:AGH) has generated CAD$4.6m (approx. $5.32m) after a sale and leaseback agreement on its Canadian land and building assets.

The sale of its property in Ontario has generated CAD$4.6m while the subsequent leaseback with a private investor in Canada has secured lease term of up to 15 years.

The property was purchased by AGH in 2019 for $2.6 million, and is home to the company’s wholly-owned subsidiary, Peak Processing Solutions, a Health Canada-licensed contract manufacturer of adult-use cannabis products.

Althea says the funds received will be used to repay the entirety of AGH’s debt, including full repayment and redemption of all outstanding convertible notes.

Following these repayments, the company’s balance sheet will be substantially strengthened, with the net proceeds of the transaction of approx. $1.2m adding to the 30 September cash balance, for a total of $4.8m.

Immutep to present data at ESMO Congress

Meanwhile, Immutep (ASX:IMM) says new updated data from its TACTI-002 trial, including more mature Overall Survival data, will be presented during the ESMO Congress in Madrid this Saturday, October 21.

TACTI-002 is a Phase 2 trial evaluating the chemotherapy-free combination of eftilagimod alpha (efti) and KEYTRUDA (pembrolizumab), Merck & Co’s anti-PD-1 therapy, in 1L NSCLC (non-small cell lung cancer).

Immutep says the TACTI-002 abstract will show an excellent initial survival benefit across an all patient population in NSCLC, as well as for patients in each PD-L1 Tumour Proportion Score (TPS) subgroup.

Notably, the new updated data from TACTI-002 will include more mature Overall Survival results.

Abstracts are available on the ESMO website, and the mini oral presentation and posters will be available on Immutep’s website following the presentation.