Alcidion Group Limited

ASX:ALC

Alcidion Group Limited

ASX:ALC
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#31
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Reports (14) My Report Forum Investors
Forum Topics ALC ALC Industry/competitors

Pinned straw:
mikebrisy
Added one year ago

I wanted to have a look at how the NHS is progressing in its digitalisation stratgy.

So I teamed up with my new buddy Bing Chat Enterprise to generate this list of 40+ accouncements for EMR systems from over the last two years. These are much bigger investments that for $ALC's products. The contract sizes range from about GBP8m right up to GBP50m. (I have not personally verified the whole list, however, a sample do check out.)

I note that the 2023 list is shorter (pro rata) than 2022.

I wondered though, with so many decsions being taken on big EMR platforms, whether that may be one issue for $ALC for the following reasons:

  1. The EMR is a big financial commitment, In the run up to making it and in the aftermath, spending on other systems many be squeezed
  2. In the run up to an EMR procurement decision, it may be hard to get management to take decision on patient flow and other solutions. This could be for reasons including: attention focused on EMR bundles of functionality (which may obviate the need for $ALC investment) and questions of inter-operability
  3. Both in the run-up to and aftermath from an EMR decision, human capacity in the NHS Trust will likely be focused on the success of the EMR. $ALC may be struggling for attention, in some cases.


So, an alternative hypothesis is: "$ALC is reporting slow decsion-making on new contracts, because the systems attention is elsewhere?"

Here is the AI-facilitated list (enjoy)

  • September 2023: Bradford Teaching Hospitals NHS Foundation Trust selected Cerner as its preferred supplier for its new EMR system.
  • August 2023: Alder Hey Children’s NHS Foundation Trust awarded a contract to DXC Technology to deliver its Lorenzo EMR system.
  • July 2023: Nottingham University Hospitals NHS Trust signed a contract with System C to implement its CareFlow EMR system.
  • June 2023: University College London Hospitals NHS Foundation Trust selected Epic as its preferred supplier for its new EMR system.
  • May 2023: The Royal Marsden NHS Foundation Trust signed a contract with Civica to implement its Cito EMR system.
  • May 2023: Lancashire Teaching Hospitals NHS Foundation Trust selected Cerner as its preferred supplier for its new EMR system.
  • April 2023: Surrey and Sussex Healthcare NHS Trust selected Cerner as its preferred supplier for its new EMR system.
  • April 2023: Imperial College Healthcare NHS Trust extended its contract with Cerner to implement its Millennium EMR system across its five hospitals.
  • March 2023: Barnsley Hospital NHS Foundation Trust awarded a contract to DXC Technology to deliver its Lorenzo EMR system.
  • March 2023: Manchester University NHS Foundation Trust awarded a contract to Allscripts to deliver its Sunrise EMR system.
  • February 2023: The Hillingdon Hospitals NHS Foundation Trust signed a contract with InterSystems to implement its TrakCare EMR system.
  • February 2023: Oxford University Hospitals NHS Foundation Trust signed a contract with Epic to implement its EMR system across its four hospitals.
  • January 2023: St George’s University Hospitals NHS Foundation Trust selected Epic as its preferred supplier for its new EMR system.
  • January 2023: Liverpool University Hospitals NHS Foundation Trust selected Cerner as its preferred supplier for its new EMR system.
  • December 2022: Royal Berkshire NHS Foundation Trust awarded a contract to System C to deliver its CareFlow EMR system.
  • December 2022: Guy’s and St Thomas’ NHS Foundation Trust extended its contract with Cerner to implement its Millennium EMR system across its three hospitals.
  • November 2022: North Bristol NHS Trust signed a contract with Allscripts to implement its Sunrise EMR system.
  • November 2022: Sheffield Teaching Hospitals NHS Foundation Trust awarded a contract to InterSystems to deliver its TrakCare EMR system.
  • October 2022: Barking, Havering and Redbridge University Hospitals NHS Trust extended its contract with Cerner to implement its Millennium EMR system across its three hospitals.
  • October 2022: King’s College Hospital NHS Foundation Trust signed a contract with Epic to implement its EMR system across its four hospitals.
  • September 2022: Luton and Dunstable University Hospital NHS Foundation Trust awarded a contract to Epic to implement its EMR system across its two hospitals.
  • September 2022: Mid Yorkshire Hospitals NHS Trust selected Cerner as its preferred supplier for its new EMR system.
  • August 2022: East Sussex Healthcare NHS Trust signed a contract with Civica to implement its Cito EMR system.
  • August 2022: Great Ormond Street Hospital for Children NHS Foundation Trust awarded a contract to DXC Technology to deliver its Lorenzo EMR system.
  • July 2022: Dorset County Hospital NHS Foundation Trust selected Cerner as its preferred supplier for its new EMR system.
  • July 2022: Birmingham Women’s and Children’s NHS Foundation Trust signed a contract with System C to implement its CareFlow EMR system.
  • June 2022: Chelsea and Westminster Hospital NHS Foundation Trust awarded a contract to DXC Technology to deliver its Lorenzo EMR system.
  • June 2022: East Lancashire Hospitals NHS Trust selected Cerner as its preferred supplier for its new EMR system.
  • May 2022: Portsmouth Hospitals University NHS Trust signed a contract with InterSystems to implement their TrakCare EMR system.
  • May 2022: Royal Free London NHS Foundation Trust extended their contract with Cerner to implement their Millennium EMR system across their three hospitals.
  • April 2022: Cambridge University Hospitals NHS Foundation Trust selected Epic as their preferred supplier for their new EMR system.
  • April 2022: Leeds Teaching Hospitals NHS Trust awarded a contract to Allscripts to deliver their Sunrise EMR system.
  • March 2022: University Hospitals Bristol and Weston NHS Foundation Trust signed a contract with Epic to implement their EMR system across their two hospitals.
  • March 2022: The Newcastle Upon Tyne Hospitals NHS Foundation Trust extended their contract with Cerner to implement their Millennium EMR system.
  • February 2022: South Tees Hospitals NHS Foundation Trust awarded a contract to System C to deliver their CareFlow EMR system.
  • February 2022: Northumbria Healthcare NHS Foundation Trust selected Allscripts as their preferred supplier for their new EMR system.
  • January 2022: The Royal Wolverhampton NHS Trust signed a contract with Allscripts to implement their Sunrise EMR system.
  • January 2022: Royal Cornwall Hospitals NHS Trust awarded a contract to System C to deliver their CareFlow EMR system.
  • November 2021: University Hospitals Birmingham NHS Foundation Trust signed a contract with Cerner to implement their Millennium EMR system across their four hospitals.
  • November 2021: Norfolk and Norwich University Hospitals NHS Foundation Trust awarded a contract to DXC Technology to deliver their Lorenzo EMR system.
  • October 2021: County Durham and Darlington NHS Foundation Trust signed a contract with Civica to implement their Cito EMR system.
  • October 2021: Barts Health NHS Trust secured £12m of funding from NHS England and NHS Improvement to invest in a new EMR system and selected Cerner as its preferred supplier.


Note: I don't have an up to date number, but there of the order of 200-250 NHS Trust in the UK, so this is a minor but significant fractoin of the whole.
Solvetheriddle
Added one year ago

@mikebrisy i think you could be right, and it has been lurking for a while. on the last call? the comment about Miya being kept as an add on despite epic winning the whole deal. implies Miya is a niche product so needs to fit in with the big boys, and you are right in a scenario of wholesale change the niche player may struggle. ALC would need a more stable environment where addons or fine tuning are a priority rather than wholesale change, good points

20
mikebrisy
Added one year ago

@Solvetheriddle Yes, there is a bigger story about how I've cottoned on to this idea. It is looking at what has made some ASX enterprise software success cases work ($WTC, $ALU, $TNE, $PNE) and the extent to which my microcap holdings face similar or different industry / customer situations.

Teri at $VHT really got me focused on to this on one of the recent calls when she described the challenges a small company like $VHT faces in landing one of their elephant clients. To close a deal, you have to put yourself in the client's shoes and understand everything on their agenda. All of a suddent it made sense. I was able to put myself in those shoes from when I was on the client side in the energy space leading a corporate transformation, and thinking about how we engaged with different software providers, what the sales cycle was like, and how decisions were reached (or not reached ... the indecision cycle can be years!)

My considered view is that $ALC are dealing with stakeholders with a crowded agenda. Teri at $VHT has clearly articulated that this was a challenge for $VHT under Ralf. Her big advantage is that she comes from a long career rising through the ranks at Epic. Teri knows the game, which is why $VHT is making progress again.

When the SP of $ALC recovers, I should sell it, and place my bets with Teri! (Based on that logic,...not saying I will. Still in hypothesis testing mode here.)

32
Bushmanpat
Added one year ago

Was looking through that list and thought, "Gee, Cerner have done well!" A quick search revealed they were bought by Oracle last year. Yes, that Oracle!

That's some pretty well funded competition with a pretty good tech track record.

Disc: held in RL (dipping the toes in) but will have to consider whether I go hard or go home with this one.

19
edgescape
Added one year ago

Already mentioned in a previous straw

https://strawman.com/forums/topic/7827

Cerner and the takeover by Oracle is initially what made me hold fire on ALC in the first place.

I saw this as Oracle signalling that Cerner was a competitive product in the Health space.

16
thunderhead
Added one year ago

If Alcidion has a competent product, they should be a takeover target themselves, especially at these levels.

14
TycoonTerry
Added one year ago

Yeh I was thinking this…. I think the factors needed for this would be:

  1. Sustained low price for a while
  2. Some movement on landing bigger contracts without much price movement
  3. Due diligence uncovering a viable and competitive product

13
nerdag
Added one year ago

^this @thunderhead. I would not at all be surprised if the predicament Alcidion finds itself in brings out the big players looking for a bargain.

12