Alcidion Group Limited Signs Contract Extension For Support Services To ACT Health

  • Dec 19, 2018 AEDT
  • Team Kalkine
Alcidion Group Limited Signs Contract Extension For Support Services To ACT Health

For two years, the company has announced that its subsidiary MKM Health has renewed its ongoing support contract with ACT Health. From January 1, 2019, to December 31, 2020, the contract will run, and the contract extension is valued at $1.27 million. For a range of third-party products, MKM Health products, custom built solutions, expert advisory services, technical services, and integration support the two-year extension will see the MKM Health team provide continuing support.

Kate Quirke CEO of Alcidion said ‘Providing technical support and integration services to ACT Health for well over a decade MKM Health has had a long-standing relationship. They see a lot of change and innovation in healthcare information technology, and it is extremely pleasing that they continue to grow this partnership with one of their most important customers.

Using a local SaaS deployment managed by NextGate Solutions Inc to establish a Queensland wide Referral Service Directory, the company has secured a major contract with Queensland Health as announced today for its subsidiary MKM Health. To establish a central point of reference for external referrals for participating Hospital and Health Services the contract uses NextGate’s Provider Registry software with Queensland Health.

From a financial point of view, the company’s unaudited pro forma revenues for FY2018 were $12.7 million i.e., financials for the previous financial year adjusted to illustrate the impact of a full year contribution from the acquired businesses. The company’s net loss for FY2018 on an unaudited pro forma basis was $1.6 million, however this included one off M&A costs of $1.0 million and $675,000 in other one-off additional expenses.

Alcidion Group Limited (ASX: ALC) traded 2.174% higher as on 19 December 2018 and the traded at $0.047 under the health care sector. The stock price has seen a performance change of 4.55% over the past 12 months. At the current market price, the market capitalization of the stock is $37.06 million. The stock’s 52-week high was $0.065 and 52-week low was $0.034.


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