Alcidion Group Limited (ASX: ALC) announced a strategic partnership worth ~$2.1 Mn with Dartford and Gravesham NHS trust in the UK, over a period of 5 years. The trust will be Alcidion’s first customer outside Australia to adopt its complete product suite, i.e. Miya, Patientrack and Smartpage, across the entire Trust.
The trust has high ambitions with its clinically led ICT strategic plan to achieve the NHS’s Five Year Forward View to be Paperless at the Point of Care by 2020. It plans to achieve full digital maturity through the application of seamlessly integrated technology solutions and enabling industry partnerships, to become a digital exemplar at the forefront of the use of agile information and technology. It serves a population of around a half of million, with 800 beds across three hospitals, and a specialist nurse-led Unit. It employs approximately 1,900 staff with a total annual budget of about 121 Mn pound.
The company under the partnership with the trust will enable safer and more efficient patient care, reduce the burden of paper and deliver state-of-the-art information and technology to frontline clinical staff by deploying the Miya Precision platform integrated with Smartpage and Patientrack in all wards across the entire Trust. The product suite will comprise electronic paper charts, clinical noting, bed management, electronic patient observations, clinical assessments, patient flow along with electronic discharge summaries for GPs. The clinical team will be able to provide the optimum level of patient care through mobile computing as it will have online access to patient information 24 hours a day.
The Trust Director of Digital Transformation Neil Perry stated that they are pleased to have ALC on board and will be implementing its leading product suite across their hospitals. Mr. Perry further stated that ALC’s product is the right fit for the company to meet its commitment in term of improving patient outcomes and sharing these improvements with other NHS Trusts. They expect the technology will empower their clinical staff to make informed decisions and focus on delivering excellent patient care. They are also excited with the possibilities of incorporation of Artificial Intelligence and natural language processing, being offered by ALC.
ALC’s Managing Director Kate Quirke stated that achievement is significant for the group. This contract would help them to install their complete product platform which are Miya Precision, Patientrack, and Smartpage outside of Australia. Earlier they have a strong presence in the United Kingdom with only Patientrack.
ALC’s UK General Manager Donald Kennedy stated that their new customer is one of the progressive trusts which they expect it to be an important reference site as being one of the pioneers of using real-time data and mobile devices to improve patient safety.
In another announcement, the company released an investor presentation where it reported an increase in spending on digital patient data which has led to a decrease in productivity. The major challenge has been the clinical risk and avoidable errors where 1 in 9 Australian patients will develop hospital-acquired complications.
On stock information, ALC’s share traded at $0.053 up 10.417% (AEST 4:00 PM, March 18, 2019) with the market capitalization of ~$38.67 Mn.
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