The share price of Australian healthcare software provider Global Health Ltd [ASX:GLH] has rocketed up today after partnering with Asthma Australia.
GLH focuses on the development, sales, and support of application software for the healthcare sector.
The health care sector (XHJ) on the ASX has performed strongly this year — as you might expect.
Year-on-year the XHJ has returned 19.2%.
Massively outperforming the broader ASX 200.
At the time of writing, the GLH share price are up ~70%, or 16 cents, to trade at 39 cents per share.
Global Health plays Lifecard
GLH’s partnership with Asthma Australia is not the first partnership to be announced this year.
With GLH partnering with other community health organisations such as Ballart Community Health, Peninsula Health, and Diabetes Victoria.
Though this morning’s announcement has caused one of the larger reactions in the share price.
The new partnership relates to GLH’s Lifecard consumer health platform.
An application which allows you to see a combined view of all your health data.
It collates your medications, medical history, allergies, medical documents, immunisations, reminders, measurements, and symptoms.
It allows users to view anything from their vital signs to fitness data.
So, it isn’t difficult to imagine the functionality of such an app.
But let me break it down for you in the case of asthmatics in Australia.
About three million Australians live with asthma, costing the community $28 billion in real and hidden costs annually.
And almost half the people living with asthma do not have control of their condition.
Asthma Australia’s goal is to halve the amount of avoidable asthma hospitalisations by 2030.
And they believe GLH’s Lifecard platform can help them achieve that goal.
CEO of Asthma Australia, Michele Goldman, commented:
‘We often hear that people with asthma get rather exhausted retelling their health history, which can be complex and traumatic, and that doctors appreciate the opportunity to assess a health record.
‘Lifecard is all about more complete information with a holistic picture that enables more insightful conversations between a patient and their doctor. We see this partnership as a great opportunity for people with asthma to embrace a health tool, and another step toward individualised, person-centred health care.’
What does this deal mean for Global Health’s bottom line?
There was no dollar value mentioned in today’s announcement.
The Lifecard app is free to download and offers some third-party content and modules available for additional fees.
Which means it’s difficult to calculate a specific sum, in terms of the partnership.
But think of it this way: there is now a major health organisation recommending Lifecard to three million Aussies afflicted with asthma.
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For Money Morning