Up another 6%, Oneview (ASX:ONE) share price hits 10-bagger status today

Additional contract information sends this healthcare tech company to the moon.

| More on:
four excited doctors with their hands in the air

Image source: Getty Images

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 Oneview Healthcare PLC (ASX: ONE) share price has surged as high as 52 cents today, the highest point it's been since 2019.

The healthcare software company's shares have pulled back slightly, still up 6.38% trading at 50 cents at the time of writing.

Let's take a look at what's driving the Oneview share price out of the doldrums to new highs in 2021.

Oneview reveals contract details

Last Friday, Oneview revealed it had signed public healthcare provider Northern Health, its first Cloud Start customer in Australia.

Cloud Start is a fully-managed Samsung tablet solution, enabling virtual care, entertainment, up-to-date patient information and other services.

Under the agreement, Cloud Start will be deployed at the Northern Health, Stage 2 Inpatient Unit Expansion Project, enabling patients to communicate with their clinicians in a COVID-19 safe manner.

In today's announcement, Oneview provided the material terms of the contract with Northern Health.

According to the statement, the agreement will include an initial contract for 126 beds with a term of 5 years.

The implementation will include standard software fee arrangements on a per bed per day basis, where no material conditions need to be satisfied before a customer signs up and becomes legally bound to a contract.

Oneview advised that it does not expect the revenue from this deal to be material in 2021.

The Oneview share price hits ten-bagger status

The Oneview share price has taken investors who bought shares in January to the promised land, surging ~1,010% this year from 4.5 cents to 51 cents at the time of writing.

The healthcare technology company first started making moves on 1 February, when it signed a distribution agreement with Samsung. Under the agreement, Samsung would distribute Oneview's Cloud Start product to healthcare-focused enterprise resellers.

The Oneview share price surged from ~115% from 4.5 cents to 9.5 cents on the day.

The second leg up came about on 12 March, after the company signed an investor awareness agreement with S3 Consortium trading, better known as Next Investors. The company's shares surged 100% from 8 cents to 16 cents on the day of the agreement.

Since then, the company has continued to kick goals, including the attainment of ISO 27001 certification award, the launch of its cloud-based care experience platform, CXP Cloud Enterprise and Friday's first Cloud Start customer signing.

Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Gainers

Young girl drinking milk showing off muscles.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a great end to the trading week for ASX investors today.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Share Gainers

3 ASX 200 stocks smashing the benchmark this week

These three ASX 200 stocks are leading the charge this week. Here’s how.

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Why A2 Milk, EOS, GQG, and Mineral Resources shares are racing higher today

These shares are ending the week strongly. But why?

Read more »

A man wearing a red jacket and mountain hiking clothes stands at the top of a mountain peak and looks out over countless mountain ranges.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another disappointing day for ASX investors this Thursday.

Read more »

two men smiling with a laptop in front of them, symbolising a rising share price.
Share Gainers

Why Pinnacle, PWR, Race Oncology, and Vulcan shares are flying today

These shares are having a good session on Thursday. But why?

Read more »

A beautiful woman holds up one finger with one hand and has her hand on her waist with the other as she smiles widely as though she is very pleased about something.
Share Gainers

Why Boss Energy, Emeco, Mineral Resources, and Plenti shares are pushing higher today

These shares are having a good time on hump day. But why?

Read more »

Three small children reach up to hold a toy rocket high above their heads in a green field with a blue sky above them.
Share Gainers

3 ASX 300 shares going gangbusters on Wednesday

Investors are bidding up these three ASX 300 shares today. But why?

Read more »

Man raising both his arms in the air with a piggy bank on his lap, symbolising a record high.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a huge Tuesday for ASX shares, with the index resetting its record high.

Read more »