Alcidion Group Ltd’s (ASX:ALC) cardiovascular information system (iCVIS) will be installed by FUJIFILM Australia Pty Ltd at the Sunshine Coast University Hospital after winning a contract in Queensland, Australia.
Alcidion developed iCVIS for FUJIFILM to address issues of clinical risk, workflow and logistics.
It is built upon the Miya platform. Alcidion has invested over $15 million in the development of Miya.
The contract with the hospital is also significant as it marks a step up in the adoption of intelligent cardiovascular technology in Australia. This could potentially lead to rollouts in the international markets, too.
The Miya technology is already operational in Western Health, Northern Territory Health Department, Tasmania Health and the Royal Melbourne.
The FUJIFILM Group (FUJIFILM Holdings Corporation, (TYO:4901) is a leader in the cardiovascular informatics market.
FUJIFILM’s contract with Sunshine Coast University Hospital marks a major step forward in the commercialization of Alcidion’s award-winning iCVIS system.
The cardiovascular information systems market is set for 8.1% compound annual growth rate and reach a size of US$917 million (circa A$1267 million) by 2020.
Alcidion held cash of $6.74 million as at end March 2016.
BlueSky Private Equity and Allure Capital hold equity of 15% and 6% respectively in Alcidion, while the founders hold a 40% stake.
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