Tech: Alcidion wins first deal with private hospital group; shares go on a run
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Shares in medtech small cap Alcidion (ASX:ALC) have risen 15 per cent this morning on news it will provide its data and software services to private Australian healthcare provider Healthscope.
The company aims to “transform healthcare with smart, intuitive technology solutions” that meet the needs of hospital and allied healthcare, and it is active across the globe.
Its shares have been on a tear this calendar year, up around 410 per cent thanks to a series of contract wins in Australia and the UK, as well as improved financial figures. They hit new highs of 23.5c in early Tuesday trade.
Its latest deal, a three-year agreement with Healthscope worth $895,000, will see the two companies collaborate to support Healthscope’s vision for using data to drive transformation in the way healthcare is managed and delivered.
Using data from Healthscope’s 43 hospitals, Alcidion will develop online dashboards to support predictive analytics and help planning for Healthscope services.
Alcidion managing director Kate Quirk recently told Stockhead the healthcare industry is “ready for a real change in the way in which healthcare is delivered and digitialisation is going to be a significant part of that”.
“This is Alcidion’s first implementation of our data analytics capabilities into a private hospital group,” Quirk told shareholders on Tuesday.
“It demonstrates how important data is becoming across the healthcare sector.”
Healthscope owns 43 private hospitals in Australia and pathology operations across New Zealand. It has a team of 18,000 people and 17,500 accredited medical practitioners, providing care to patients ranging from pathology tests to complex surgery.
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