After being selected as a solution partner for Dartford and Gravesham NHS Trust in the UK — a contract valued at $2.1 million — Alcidion Group Ltd [ASX:ALC] shares are reflecting the good news.
At time of writing, Alcidion’s share price is trading at $0.055, gaining 3.77% on top of yesterday’s 12.50%.
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The last five years has seen ALC’s share price yo-yo, which for a small-cap stock isn’t all that unusual as it takes time for stock to establish itself — particularly for a software company working in healthcare.
ALC has three healthcare software companies: Alcidion Corporation, Patientrack and Smartpage, and MKM Health.
Alcidion’s share price benefits from Miya platform
After winning the contract with Dartford and Gravesham, ALC will implement its Miya Platform along with its Smartpage and Patientrack in all wards within the Trust.
‘Miya Precision is a health analytics platform that solves clinical problems through provision of clinical decision support based on the application of algorithms, artificial intelligence and meaningful notifications’, as reported in yesterday’s announcement.
Commenting on the contract was Alcidion’s managing Director, Kate Quirke, saying:
‘This is a major win for Alcidion. Although the company has strong presence in the UK with Patientrack, this is the first integrated installation of the complete product platform — Miya Precision and Smartpage — outside of Australia.’
Meanwhile, Alcidion’s UK general manager Donald Kennedy said Alcidion was delighted to be partnering with Dartford and Gravesham, naming ALC as an important reference site as one of the pioneers of using real-time data and mobile devices in order to improve patient safety.
Dartford and Gravesham reflected ALC’s excitement, with Associate Director of Digital Transformation Neil Perry agreeing with the long-term benefits of the partnership. Perry stated:
‘Following a competitive tender process, we are very pleased to be working with Alcidion to implement its leading products suite across our hospitals.
‘Alcidion’s solutions are the right fit to help us meet our commitment to use digital technology to improve patient outcomes and shares these improvements with other NHS Trusts. Alcidion is a long-term solution partner for the Trust, and we believe its technology can empower our clinical staff to make informed decisions and focus on what they do best — deliver excellent patient care. We are very excited by the possibility in the use of artificial intelligence and natural language processing offered by the Alcidion solution.’
Alcidion’s outlook lends UK market growth
The last five years has seen ALC’s share price yo-yo, but Alcidion Group’s contract with Trust is set to change that, as it introduces new technology solutions in the UK market.
‘This contract is solid proof that we can effectively leverage our reputation and relationship in the UK and introduce an innovative new technology solution to the UK market,’ Kate Quirke said.
What’s more, branching outside of Australia and into the UK market sets Alcidion up for further global potential for its products. With the ever-increasing move towards technology and innovation avenues, in its abilities to provide care and actionable insight into patient conditions, the usefulness of Miya Precision implementation is looking very positive to both the company’s share price and investors.
More to come.
For Money Morning
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