27 October 2020

Q1 FY2021 Business UpdateStrong first quarter of sales, investment in growth continues

Melbourne, Australia – Alcidion Group Limited (ASX: ALC) today released its Appendix 4C for the three-month period ended 30 September 2020 (Q1 FY2021) and the below business update.

Highlights:

• Strong start to FY2021, with $4.8M new contracted revenue sold in Q1 – up 30% on previous quarter and up 92% on Q1 last year;
• Total contracted revenue to be recognised in FY2021 stands at $14.7M at end Q1, up 14% on Q1 last year;•Cash receipts from customers were $6.4M in Q1, a 34% increase on Q1 FY20;
• Net cash outflow of $1.2M, reflecting ongoing investment in growing the business with cash reserves of $14.7M at end Q1;
• Significant contracts signed or announced since 1 July 2020:

* Sydney LHD –12-month contract for Miya Precision to support COVID-19 virtual care

* Murrumbidgee LHD – 12-month contract for Miya Precision platform including Miya Memory

* NHS Lanarkshire – 5-year agreement to implement Patientrack across boardoACT Health – 2-year extension to long term integration support contract and further project work

* Queensland Health – additional work on the Referral Services Directory(RSD) platform

* Lancashire Teaching NHS Trust – 5-year Smartpage contractoPanel contract with Vic DHHS for implementation and support of the Victorian Hospital Incident Management System

Q3 FY2020 Business UpdateSolid result with a strong pipeline despite COVID-19

Highlights:

• Solid performance amidst COVID-19 pandemic, highlighting importance of Alcidion’s platform; sales pipeline remains strong across all markets;
• At the end of Q3, $17.2M in sold revenue to be recognised in FY2020, exceeding FY2019 full year revenue of $16.9M;
• Solid start to H2 with $4.2M revenue from new contracts added in Q3, of which $2.4M should be recognised in FY2020;
• Total contracted revenue of $41.6M out to FY2025 (including FY2020 $17.2M) and a strong balance sheet with cash reserves of $15.9M; and
• Significant new contracts signed since 1 January 2020 include:

             - Townsville Hospital and Health Service contract to implement Smartpage;

             - An extension and renewal agreement with NHS Fife for a further five years;

             - The implementation of a data warehouse across all Calvary Health Care sites;

             - Systems integration contract for national Digital Pregnancy Health Record pilot; andoMurrumbidgee LHD to expand and extend use of Miya Precision and Miya MEMRe.

Highlights:

• NHS Fife - a Health Board in Scotland extends use of Patientrack across the whole estate – including a minimum of 10 hospitals.
• Previous annual contract renewed for five years
• $1.47M total value to be recognised over five years to 2025
• NHS Fife is one of Alcidion’s longest-serving customers, first implementing Patientrack in 2011

Melbourne, Australia - Alcidion Group Limited (ASX: ALC) has signed an extension and renewal agreement with NHS Fife for an additional five-year term, extending the Board’s use of the electronic bedside monitoring system across the whole estate (minimum 10 hospitals).  The total value of the new contract is $1.47M over five years, to 2025. 

NHS Fife is a regional hub in Scotland, serving a population of 370,000 residents. Under the expanded renewal agreement, NHS Fife will now deploy Patientrack across the whole estate, a minimum of ten hospitals including two main acute hospitals and a network of community and day hospitals, amounting to approximately 1342 beds.

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16 March 2020

ASX update:

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We recognise the uncertainty that exists relating to the potential impact of the COVID-19 virus on global healthcare in the coming months and no business will be immune from its impacts. However, what we do know is that there will be increasing demand on the healthcare services as the number of cases accumulate globally and ultimately technology has a role to play in supporting the response to this increasing demand.

The current crisis represents an important context for us to demonstrate the merits of our unique platform that can give hospitals a site-wide view of their patient flow, automate workflows, alert clinicians to patients who are at risk or in decline, and assist in better management of resources to reduce the burden on clinicians and optimise patient care.

Our unique technology platform has been proven to support healthcare organisations to manage resources by improving efficiency and patient flow, enabling hospital beds to be freed up. We have recently built a feature in Miya Precision to provide flags to identify patients with and at risk of COVID-19 which we are now in a position to deploy to those customers requesting it. We have also developed COVID-19 screening assessments in Patientrack which we will shortly make available to customers. We will continue to monitor the situation in close consultation with our customers and provide what assistance we can as they manage this outbreak.

Our business itself is well positioned to accommodate whatever measures are prudent for us to take to safeguard the health of our staff, our customers, our customers’ patients and the wider community. Many of our services are delivered remotely and all our staff can work from home if self-isolation measures are required, either for individuals or for an entire office. Following consultation with our customers, we will be implementing contingency measures for each of our current projects to ensure we can continue to support these projects and our customers.

From an investment perspective, the fundamentals of the healthcare technology market have not changed – recent global events serve to heighten the value of investment in digital technology to improve clinical workflow and the delivery of care. We continue to strengthen our sales pipeline in Australia, New Zealand and the UK.

Alcidion is well positioned to capitalise on the rapidly increasing investment in digital healthcare. We have a clear strategy to accelerate growth, which we are successfully implementing, and we have a strong balance sheet to sustain the investment through current volatile capital markets. Weakness in the share price is of course disappointing for all shareholders and earlier this week I took the opportunity to add to my shareholding with the on market purchase of 1,000,000 shares. Our Chair Rebecca Wilson has also purchased further shares.

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24 February 2020

Alcidion Group-H1 FY2020 Results Solid start to FY2020 with significant contracts signed and investments for growth.

Highlights:

• H1 FY2020 revenue of $8.2 million, 12.3 % increase vs H1 FY2019
• Investment for growth underway in areas of sales, marketing and product development to capitalise on an increasingly favourable market opportunity in UK and ANZ
• Net loss of $1.8 million, as a result of investments made to accelerate operations in line with growth strategy
• $15.4M revenue already set to be recognised in FY2020, compared to FY2019 full year revenue of $16.9M with total sold revenue of $37.2M out to FY2025
• Cash reserves of $17.2 million, strengthened balance sheet from $16.2 million placement
• Miya MEMRe launched, following successful innovation Proof of Concept (PoC) at Murrumbidgee Local Health District (LHD)
• Important contracts signed including with private provider Healthscope, Dartford and Gravesham NHS Foundation Trust and our first NHS Global Digital Exemplar site, Taunton and Somerset NHS Foundation Trust

11 February 2020

Melbourne, Victoria – Alcidion Group Limited (ASX: ALC) today advises it has released the attached investor presentation and business update, which will be presented to investors this week by Managing Director Kate Quirke.

Highlights from the presentation include:

• Two contracts signed in Q3 since the release of the Appendix 4C, adding a further $1 million of sold revenue to be recognised in FY2020
• An increasing market opportunity showing continued investment in digital health across Alcidion’s current markets and details of Alcidion’s expansion strategy
• Update on Q3 activities, including the planned launch of Miya MEMRe in the UK

27 DECEMBER 2019

Alcidion signs contract for medications management solution

Highlights:

• Contract for ~A$1.9 million signed with Dartford and Gravesham NHS Trust in the UK for medications management
• As announced July 2019, Alcidion was selected as preferred provider for the solution, following a competitive tender process
• Alcidion will implement the Better OPENeP electronic prescribing and medication management solution at Dartford and Gravesham NHS Trust

Melbourne, Victoria – Alcidion Group Ltd (ASX:ALC) announces that an agreement has been reached with Dartford and Gravesham NHS Trust, UK, to implement the OPENeP Electronic Prescribing and Medications Administration (ePMA) system produced by Better. Total value of the contract is £1.02 million (~A$1.9 million) to be recognised over six years.

The agreement follows Alcidion’s award as preferred provider by the Trust, a status previously announced in July 2019 and subject to final approval by the Trust and successful negotiation of terms.

Alcidion was appointed as a reseller and implementer of the OPENeP solution in April 2019 for the UK, Australia and New Zealand health sectors. This project will represent Alcidion’s first implementation of OPENeP.

The agreement extends Alcidion’s existing relationship with Dartford and Gravesham, where a contract was signed earlier in 2019 for the first implementation of Alcidion’s full product suite in the UK. The Patientrack solution was implemented earlier this year, and planning is currently underway to implement the Miya Precision and Smartpage solutions.

19 December 2019

Alcidion signs vital signs monitoring and patient assessments contract with Taunton and Somerset NHS Foundation Trust

Highlights:

• Alcidion selected as solution partner for Taunton and Somerset NHS Foundation Trust in the UK, a contract valued at $500k over 3 years
• Taunton and Somerset NHS Foundation Trust will implement Alcidion’s Patientrack software solution to improve patient care and safety
• The Trust is part of the NHS Global Digital Exemplars program – encouraging use of world -class digital technologies and information and the creation of blueprints for other trusts

19 November 2019

ALCIDION LAUNCHES MIYA MEMRe

Reduces clinician workload, improves patient safety and best practice compliance

Melbourne, Victoria – Alcidion Group Limited (ASX:ALC) today unveiled Miya MEMRe, a mobile Electronic Medical Record (EMR) that enables clinicians to review their current activity and caseload, be notified of critical issues and access comprehensive patient records on the go.

The app is the first locally developed solution of its type to offer full access to your EMR data, and the first mobile EMR solution in Australia using FHIR clinical events. It’s also the first app that is source system agnostic and uses Artificial Intelligence (AI) to refine critical notifications and action lists.

Miya MEMRe is currently being trialled in Australian health services, interacting with local clinical systems and providing clinicians in high -intensity areas such as Emergency Departments with critical test results and risk indicators in real-time, via mobile devices, to enhance decision-making.

Miya MEMRe is designed to exploit the vast amount of information available in an organisation’s EMR and clinical systems, distilling that data and presenting it in an intuitive and focused user interface that aligns to clinical workflow. Clinicians immediately know what’s important, can identify problem areas and trends, and access data they need to deliver personalised and precise care.

...

With Miya MEMRe, clinicians can instantly see their caseload – admissions, discharges, patients in ED, consult requests and reviews – and prioritise their time. Sophisticated detection rules issue meaningful notifications so clinicians can review critical events such as lab results, vital signs and deterioration. These notifications include valuable information – patient context, current medications and problem lists ; so clinicians can understand the clinical context and take the best course of action.

Clinicians can also tailor their own patient lists to focus on a specific patient or a group of patients. They can define their own patient lists by “tagging” patients or subscribing to specific data to monitor changes. With these capabilities Miya MEMRe is designed to promote best practice compliance by reducing the cognitive load on clinicians,minimising variation, and lessening delays that could lead to patient harm.

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Annual General Meeting – 14 November 2019

Presentation Snapshot

• Highly differentiated platform providing smart infrastructure for healthcare
• AI-powered clinical decision support system (CDSS) that improves safety and productivity
• Comprehensive solution to transform healthcare delivery, supported by skilled service delivery team

* 30K Beds using company's technology

* 215 Hospitals across the UK, Australia, New Zealand

* 42 Healthcare organisations transforming healthcare

* 11K Active users

* 79M Observations recorded

* 590K Alerts generated

Australia: Global Market potential - 5 years

• $1.63Bn total market potential across AU, UK, NZ
• $450M total market potential in AU for all products and services
• $240M Alcidion’s target accessible market in AU, adjusted for achievability

UK – our largest current market:  Global Market potential - 5 years

• $1.1Bn total market potential in UK for all products and services
• $586M Alcidion’s target accessible market in UK, adjusted for achievability

NZ - strong existing presence provides future potential to upsell:  Global Market potential - 5 years

• $75M total market potential in NZ for all products and services
• $42M Alcidion’s target accessible market in NZ, adjusted for achievability

Opportunity in additional markets

• Similar drivers for adoption exist
• Shift to digitalisation still at an early stage in many markets
• Currently analysing markets with earliest potential
• Canada, Singapore, South Africa, Germany, Scandinavia are early possibilities
• Entry to these markets and others may be through channel partners

Operational Update

* Delivery / implementation on major projects

  - Dartford and Gravesham NHS Trust – Phase 1 of strategic project (Patientrack) – now live

  - Referral service directory for Queensland Health – now live

  - Alfred Hospital data analytics platform delivered

* Sales force expansion – Appointed General Manager of Sales and Marketing, UK and added new sales executive for Southern Region based in Victoria

* eHealth NSW Proof of Concept innovation challenge early outcomes being presented at eHealth NSW expo

* Presenting and exhibiting at market -leading exhibitions in the coming week - SA Health Expo, Digital Health Week in NZ, Scottish Patient Safety Congress, and eHealth NSW Expo

...

14 October Presentation

Key customers:

1. ACT Government
2. ACT Health
3. NSW Health
4. Western Health
5. QLD Government/QLD Health
6. Healthscope
7. NT Government
8. NSW Govenment/Health Central Coast Local Health Disctrict
9. NSW Govenment/Health Murrumbidgee Local Health Disctrict
10. Austin Health
11. Alfred Health
12. The Royal's Women's hospital
13. VIC Health & Humarn Services

14 October 2019 Presentation

Q1 FY2020 Update

• $12.9M revenue already contracted for FY2020 as at Q1; 16% increase vs PCP FY2019
• $2.54M of new contracts sold in Q1, adding $1.24M revenue to be recognised in FY2020, with total sold revenue out to FY25 of $34.0M
• Strategically important contract signed with Healthscope - first sale to a major private hospital network of our data and analytics capabilities
• Q1 FY2020 Cash surplus from operations of $136K
• Third consecutive quarter of positive net cash flow and fourth positive quarter since beginning of FY2019
• Improved cash reserves of $4.4M

14 October 2019 Presentation

Financial Highlights:

300% INCREASE IN STATUTORY REVENUE

33% INCREASE ON FY2018 COMBINED PROFORMA REVENUE

$2.0M POSITIVE OPERATIONAL CASH FLOW

$39K EBITDA LOSS; EARNINGS APPROACHING BREAKEVEN

• First full year of positive operational cash inflow ($2.0M), with an overall net inflow of $282K
• FY2019 earnings close to breakeven; net loss of 84K and EBITDA loss of $39K. 98% improvement on FY2018
• Cash reserves boosted to $3.2M
• Strategically significant contracts signed include ACT Health and Dartford & Gravesham NHS Trust for first fully integrated product suite Other contracts include NSW Health, Queensland Health, Brighton & Sussex Hospitals NHS Trust

14 October Presentation

Revenue Model: Product Contracts & Services Contract

Product Contracts:

• Miya Precision
• Patientrack
• Smartpage
• Reseller products (e.g. Nextgate, OpenEP )

Services Contracts:

• Data & Analytics
• Integration & Operability
• Service Delivery (Implementation services,managed services)

Alcidion 2019 Annual Report to Shareholders

Summary

FY2019 was a significant year of growth for Alcidion. In a year when a lot of focus went into integrating our businesses and capabilities, Alcidion was able to deliver commercial and operational growth across Australia, the UK and New Zealand.

FY2019 highlights:

• $16.9 million revenue delivered in FY2019
• 300% increase in statutory revenue
• 33% increase on combined FY2018 proforma revenue
• $2 million positive operational cash inflow
• $39K EBITDA loss; earnings approaching breakeven
• 98% year-on-year EBITDA improvement
• 2 contracts signed for integrated full product suite

17 SEPTEMBER 2019

Alcidion signs partnership with Healthscope for data and analytics

Alcidion signs partnership with Healthscope for data and analytics Melbourne, Victoria –Alcidion Group Ltd (ASX: ALC) (Alcidion) has signed a three-year agreement with Australian private healthcare provider Healthscope to implement a solution to support its data and analytics strategy. The value of the agreement is $895K over three years.

The objective is for Healthscope and Alcidion to work together to support Healthscope’s vision for using data to drive transformation in the way healthcare is managed and delivered. Using data from Healthscope’s 43 hospitals,Alcidion will developdashboards to support predictive analytics and long-range planning for Healthscope services.Alcidion Managing

Director Kate Quirke said, “Alcidion is excited to establish this relationship with Healthscope to augmenttheir data and analytics capabilities across the organisation. This is Alcidion’s first implementation of our data analytics capabilitiesinto a private hospital group. It demonstrates how important data is becoming across the healthcare sector. We look forward to sharing our extensive capabilities around health care data management to assist Healthscope todrive better outcomes. "

23 July 2019 Alcidion delivers positive cash flow for Q4 and FY19 overall

Highlights

• Positive operating cash flow of $566K for final quarter
• Cash flow surplus from operations of $2.1M for FY19 overall, improved cash position of $3.4M
• FY19 final revenue likely to be in range $16.5M to $16.9M subject to final year-end adjustment
• Strong start to FY20, with $11.7M sold revenue to be recognised in FY20 and a further $19.5M out to 2024
• Strategic reseller agreement signed with Better by Marand for Medications Management

The company delivered a net operating cash flow surplus of $566K in Q4, the second consecutive quarter of positive operating cash flow. The company delivered a net operating cash flow surplus of $2.1M for FY19, after three cash flow positive quarters and one quarter (Q2) with a small negative cash flow.  

Available cash reserves are now $3.4M, up from $2.9M at the end of Q3.

Cash receipts for the quarter were $6.1M, in line with Q3. Operational cash outflows for Q4 were approximately $700k higher than Q3, primarily due to the payment of $400K in VAT on UK Q3 sales, sales commissions related to these two major UK contracts, and advance payment of superannuation contributions for Q4.  

Operational cash outflows in Q1 FY20 are forecast to be similarly higher than usual, due to the payment of annual performance bonuses, changed timing of PAYG payments and further planned investments relating to completing the operational integration of the businesses acquired in FY2019, predominantly around branding and market presence.

Alcidion awarded preferred provider for Medications Management 

"Adelaide, South Australia – Alcidion Group Ltd (ASX:ALC) today announces it has been selected, in the UK, as the preferred provider for Dartford and Gravesham NHS Trust’s Electronic Prescription Medications Administration System as a result of a competitive tender process.

Upon final contract, Alcidion will deploy Better by Marand’s OPENeP platform, an electronic medication management system that is designed to prevent adverse medication related events. In April 2019, Alcidion was appointed as a reseller partner by Better by Marand for the UK, Australia and New Zealand."