Health: Alcidion reckons its tech is crucial in the fight against coronavirus

Alcidion (ASX:ALC) says the current crisis is a good opportunity for the company to demonstrate the merits of its technology.

The company offers various technology solutions for hospitals. Among other tasks, Alcidion’s tech helps with monitoring patient health and managing workflows for doctors and nurses.

Alcidion released a letter to shareholders saying it was not all doom and gloom right now. The company reckons it could play its part in the current crisis and over the longer term.

“There will be increasing demand on the healthcare services as the number of cases accumulate globally and ultimately technology has a role to play in supporting the response to this increasing demand,” CEO Kate Quirke.

“The current crisis represents an important context for us to demonstrate the merits of our unique platform”.

Quirke pointed out new features in its Patientrack and Miya Precision platforms that could help identify patients with COVID-19.

“From an investment perspective, the fundamentals of the healthcare technology market have not changed,” she said. “Recent global events serve to heighten the value of investment in digital technology to improve clinical workflow and the delivery of care.”

Britain could be big

Alcidion has a particular focus on the UK market. It says Britain leads the world in med-tech adoption and could be a strong market for the company.

But the nation could also suffer more than other countries during the coronavirus outbreak.

Over the weekend, a UK Department of Health agency document was leaked to the local press suggesting up to 7.9 million Britons (15 per cent of the population) could be hospitalised over the next 12 months due to the coronavirus.

Quirke said she recently spent 10 days in the Old Dart and reiterated this morning it was the largest potential market Alcidion operated in. She also reminded shareholders of the $137,500 leap of faith she took in the company last week.

While shares have halved in the last month they are still double what they were 12 months ago.