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Alcidion Group Ltd signs $2.35M deal with Western Health

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Alcidion Group Ltd (ASX:ALC) has signed a $2.35 million agreement with Western Health to utilise its electronic patient records platform – Miya, across Western Health’s three facilities in Victoria.

Western Health employs 6,500 staff across three acute public hospitals.

Alcidion’s Miya platform will provide all the necessary data to manage patient care, from the emergency department through to the hospital wards.

Clinicians can access individual patient information on mobile devices and view clinical information such as pathology and radiology results as well as access clinical documentation.

The initial term of the agreement is three years, with an option to extend it for an additional two years.

The solution will also provide an overview of capacity and demand at both the ward and unit level, providing real time information about open and available beds, patients coming in and potential and confirmed ward discharges.

The global patient flow management solutions market is estimated to grow at a CAGR of 22% to reach $678.4 million by 2019 from $251 million in 2014.

Alcidion began trading on the ASX in February 2016 after the reverse takeover of the shell of Naracoota Resources.

The company generated $5 million in revenues in FY15 from the deployment of the platform into beta sites and held $6.2 million cash as at 29 July 2016.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Alcidion Group

Price: 0.22 AUD

ASX:ALC
Market: ASX
Market Cap: $217.95 m
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