ASX Health Stocks: Sub $50m market cap Austco nabs $7.4m contract, the biggest in its history
Health & Biotech
Health & Biotech
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Digital health company Austco Healthcare (ASX:AHC) surged by as high as 30% this morning after announcing that its subsidiary in Canada has secured a $7.4m contract, the biggest in the company’s history.
Under the deal, Austco will supply its Tacera alarm management and clinical workflow solution for the new 548-bed St Paul’s Hospital in Vancouver.
This includes over 1100 full IP patient stations, 1200 clinical workflow terminals, and Webservices interfaces for EMR and RTLS systems integrations set to be installed in the hospital.
These systems will allow critical messages, including medical emergency notifications, to be delivered to application stations installed throughout the facility, ensuring staff are promptly notified and can act quickly.
Two-way audio will connect patients to all healthcare personnel in real-time, improving workflow, driving efficiencies, and reducing risk.
The new hospital, currently under construction and set to open in 2026, will be a landmark healthcare facility in Canada’s western city of Vancouver.
Austco meanwhile is a sub $50m market capped company, and says that revenue recognition from the deal is expected to begin in this current financial year.
“We are thrilled to have won the St Paul’s hospital contract, which aligns with our company’s mission and values,” said Austo CEO, Clayton Astles.
“This is the largest contract win in the company’s history and demonstrates our growing sales momentum and the increasing reputation of our flagship product, Tacera, as the most advanced clinical workflow solution available today.”
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