E-health provider Alcidion Group (ASX:ALC) has begun trading on the ASX boards today from the reverse takeover of the shell of Naracoota Resources, which last traded at $0.056 in December.
Alcidion has built an electronic software technology that centralises patient health data, including hospital pathology and oncology records onto mobile devices.
This consolidates clinical and patient data from multiple sources across hospitals into a single platform providing benefits to clinicians as well as better patient care to avoid medical errors.
The company earned $5 million in revenues in FY15 from deployment of the platform onto beta sites. It is already deployed at Western Health, Northern Territory Health, Tasmania Health and the Royal Melbourne.
Alcidion was founded by the former chairman and CEO of the South Australian Health Commission Ray Blight and Professor Malcolm Pradhan, and are looking to rapidly scale up its U.S. presence to take advantage of looming opportunities for health tech companies.
Well known technology entrepreneur Nathan Buzza is executive director of Alcidion. He was second-largest shareholder of listed clinical tech provider Azure Healthcare.
The shares were trading ahead on re-listing.
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