Alcidion (ASX: ALC) shares on rise after signing contract with Leidos

Highlights

  • Alcidion signed a contract with Leidos Australia to provide components of a Health IT project for Australia’s Commonwealth.
  • The contract signing follows an announcement made on 15 April 2021.
  • Alcidion is a preferred vendor therefore got selected as a member of the Consortium.

The healthcare technology company Alcidion Group Ltd (ASX: ALC) shares are soaring high as the company announced that its consortium has won a major government contract.

The shares are almost 8% up in afternoon trade at AU$0.34 each.

What contract is awarded to Alcidion?

Alcidion signed a contract with Leidos Australia to provide components of a health IT project for Australia’s Commonwealth. The contract signing follows an announcement made on 15 April 2021 that stated Alcidion is a preferred vendor therefore got selected as a member of the Consortium.

Leidos Australia is the primary contractor for the Consortium. The parent company, Leidos (NYSE:LDOS), is a global IT and engineering consulting corporation. To deliver the entire system needs, the Consortium works with a number of different digital health partners, many of whom are leading Australian suppliers.

Miya Precision Product of Alcidion will offer Longitudinal Health records. The Miya Precision is a platform that will collect data from Consortium partners and systems present in the environment. Then the data will be processed to provide a consolidated health history and status of every partner.

The project commencement is planned for December 2021, and it has been estimated that the contract will reach the $23.3 million valuations in 6 years.

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