Why the Alcidion (ASX:ALC) share price is surging 5% higher

The Alcidion Group Ltd (ASX:ALC) share price is pushing higher on Wednesday after announcing a new contract win in the UK…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Alcidion Group Ltd (ASX: ALC) share price has continued its positive run and is pushing higher again on Wednesday.

In morning trade, the healthcare technology company's shares are up 5% to 29.5 cents.

Why is the Alcidion share price surging higher?

Investors have been buying Alcidion shares this morning after it announced a new contract win.

According to the release, the company has signed a contract with East Lancashire Hospitals NHS Trust for Patientrack and Smartpage. This contract is valued at $2.2 million over five years.

The release explains that the East Lancashire Trust is a large, integrated health care organisation of 8,000 staff, providing acute, secondary and community healthcare for the 530,000 residents of East Lancashire and Blackburn with Darwen.

Patientrack will be used by the Trust's nurses as they carry out crucial observations, integrating directly with devices used at the bedside to capture patients' vital signs. This will allow them to automatically calculate a patient's early warning score.

Whereas Smartpage, which is Alcidion's smartphone and web-based secure messaging system, will be deployed in parallel and integrated with Patientrack to push alerts to clinical teams for when they need to take action for patient care.

Management commentary

Alcidion's Managing Director, Kate Quirke, said: "We are delighted to partner with East Lancashire Hospitals NHS Trust to support the delivery of better and safer patient care. Both Patientrack and Smartpage continue to open the door to new customer relationships, supporting the expansion of our presence in the UK."

East Lancashire Hospitals NHS Trust's Chief Information Officer, Mark Johnson, spoke very positively about the technology.

He said: "We are driving forward our ambitions to enhance patient care and improve working life for staff through digital technology, both locally and in collaboration with our ICS colleagues across the region. Patientrack, which has delivered impressive results for patient safety in dozens of other NHS hospitals, accompanied by Smartpage, will be an important part of that digital roadmap and the deployment of our local EPR."

Following today's gain, the Alcidion share price is now up over 55% since the start of the year.

Should you invest $1,000 in Smart Parking Limited right now?

Before you buy Smart Parking Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Smart Parking Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Alcidion Group Ltd. The Motley Fool Australia has recommended Alcidion Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

A financial expert or broker looks worried as he checks out a graph showing market volatility.
Broker Notes

Leading brokers name 3 ASX shares to buy today

Here's why brokers believe that now could be the time to snap up these shares.

Read more »

Oil worker using a smartphone in front of an oil rig.
Energy Shares

ASX 200 energy shares plunge on shock OPEC move

ASX 200 energy shares like Woodside and Santos are tumbling on Monday. Let’s find out why.

Read more »

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
Share Gainers

Why 4DMedical, Gold Road, Syrah, and Tyro shares are racing higher today

These shares are starting the week strongly. But why?

Read more »

Rising gold share price represented by a green arrow on piles of gold block.
Gold

2 ASX gold stocks racing higher in Monday's sinking market

Investors are sending these ASX gold stocks flying higher on Monday. But why?

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why Brainchip, Helia Group, Reliance Worldwide, and Westpac shares are dropping today

These shares are starting the week in the red. But why?

Read more »

Man looking upwards contemplating which shares to buy
Broker Notes

CSL shares have climbed 10% since 11 April. Is it too late to buy?

What are analysts saying about this biotech giant after its recent rally? Let's find out.

Read more »

Man with rocket wings which have flames coming out of them.
Share Gainers

Guess which ASX All Ords share just rocketed 19% on BIG news

Investors are sending this ASX All Ords share flying on Monday. But why?

Read more »

Man looking happy and excited as he looks at his mobile phone.
Opinions

Why I think this small ASX dividend share is a great buy today

This small business offers a lot of what I like for passive income.

Read more »