Alcidion Group (ASX: ALC) has won a major contract with Dartford and Gravesham NHS Trust in the United Kingdom which will see the health informatics company deploy its product suite outside of Australia for the first time.
As the company’s first overseas customer, Alcidion’s total product suite, comprising the Miya Precision platform integrated with Smartpage and Patientrack, will be placed in all wards across the entire Trust to enable safer and more efficient patient care.
Alcidion said its offering would also reduce the burden of paper while “delivering state-of-the-art information and technology to frontline clinical staff”.
The product suite provides for electronic patient observations, electronic paper charts, clinical assessments, clinical noting, patient flow, bed management and electronic discharge summaries for GPs.
The five-year contract is valued at approximately $2.1 million.
Alcidion managing director Kate Quirke described the contract as a major win for the company.
“Although the company has a strong presence in the UK with Patientrack, this is the first integrated installation of the complete product platform – Miya Precision, Patientrack and Smartpage – outside of Australia,” she said.
“This contract is solid proof that we can effectively leverage our reputation and relationships in the UK and introduce an innovative new technology solution to the UK market.”
The contract is in line with the NHS Trust’s ambitious ICT strategic plan of being paperless at the point of care by 2020.
Alcidion asserts it has the ability to build intelligence for better, faster decisions with intuitive software platforms aimed at transforming healthcare.
Its Miya Precision health analytics platform can solve clinical problems through provision of clinical decision support based on the application of algorithms and artificial intelligence.
Meanwhile, its Patientrack clinical documentation and patient observations, along with the company’s Smartpage communication tool, provides a real-time summary of a patient’s condition, alerting care providers to clinical indicators such as deterioration.
As an emerging healthcare analytics company, Alcidion believes market adoption is at an early stage with strong growth drivers, including the need to eliminate preventable patient deaths and avoidable cardiac arrests, presenting significant business opportunities.
In the first-half of the 2019 financial year, the company secured notable contract wins with Queensland Health, Alfred Health and ACT Health.
Alcidion’s shares jumped 8.3% in morning trade to $0.052.