Oneview aims for $30m to expand use of patient management app

Irish patient care platform Oneview has raised $21.8 million — and is going after another $8.3 million — to roll out its technology into new segments.

The company’s (ASX:ONE) initial focus has been patient “engagement” systems to manage care and offer entertainment in hospitals and nursing homes.

A mobile app, Connect, which allows health care providers to engage with patients in hospital and after discharge — was successfully deployed at the Sydney Children’s Hospital Network earlier this year.

Oneview shares were steady at $2.19 in Monday afternoon trade, valuing the company at $86 million.

This time last year, the stock was trading at $7.

The money will help transition from a Microsoft-based system to Google’s Android, reducing hardware costs by 30 to 50 per cent, the company said.

Oneview was the first Irish company to list on the ASX in 2016, and has grown contracted beds 163 per cent to 8,666 systems at the end of October.

Now Oneview is looking to expand into managing treatment for cancer — from initial GP referral to first treatment, starting with prostate cancer patients in the UK.

“The support of existing and new institutional investors, coupled with exciting new hardware pricing, positions us strongly to continue to execute our business plan and deliver on our vision,” Oneview chief executive James Fitter said.

Oneview reported $1 million in sales of its technology last quarter, and had $24.6 million in the bank at the end of the period.

They expect to spend $12.2 million this quarter.