The Alcidion Group Ltd (ASX: ALC) share price has surged 8.33% higher today, following an announcement that included an update of its role in combatting the coronavirus outbreak.
Alcidion develops and licenses 3 core healthcare software products: Miya Precision, Patientrack and Smartpage. It also resells other healthcare software products in Australia, New Zealand and the United Kingdom (UK).
Miya Platform goes live at 2 ACT campuses
Today, Alcidion announced that its Miya Platform has gone live at 2 ACT Health campuses – the Canberra Hospital and the University of Canberra Hospital. Total coverage of the new platform extends to more than 600 beds.
This is the healthcare company's first rollout of its entire Alcidion platform. This platform incorporates its Miya Precision, Patientrack and Smartpage to go-live product suites, and forms part of a 5-year agreement with ACT Health.
The announcement was made in a joint media release with ACT Health.
Alcidion's role in the global coronavirus crisis
Alcidion believes that its technology has an important part to play in supporting the increasing market demand for healthcare services as the number of coronavirus cases rises globally, by giving hospitals a holistic view of their key monitoring stats such as patient flow.
In addition, its systems have the ability to alert clinicians to patients who are at increased risk or whose medical condition suddenly declines. In doing so, the company believes that its software products have the ability to assist hospitals to better manage their very stretched resources and thereby reduce the burden on their medical staff.
Alcidion further added that it has developed coronavirus screening assessments in its Patientrack product, adding that this product will soon be made available to its customer base.
The technology healthcare company confirmed that it has a contingency plan that can be activated if isolation procedures are required, noting that a number of its services can be delivered by remote means and that its staff can work from home if required.
UK market update
After recent visits to the UK, Alcidion noted that there continues to be a growing market interest with regards to its Miya Precision and Miya MEMRe products, adding that the UK is the company's largest potential market and is also an early adopter of technology in healthcare.
Recap of last month's market update
Alcidion's business update to the market last month revealed that the company signed 2 additional contracts with Calvary Health Care and eHealth NSW. The company also reported that sold revenue for FY 2020 amounted to $15.4 million at the end of the first half. It added that it has a strong pipeline leading into the financial year end.
