The Alcidion Group Ltd (ASX: ALC) share price is on the rise on Monday after the release of an announcement.
At the time of writing, the healthcare technology company’s shares are up 8% to 20.5 cents.
What did Alcidion announce?
This morning Alcidion announced an extension of its contract with South Tees Hospitals NHS Foundation Trust in the United Kingdom.
According to the release, the extension will include cloud hosting on Microsoft Azure, a managed service of the hosted environment, Alcidion’s Smartpage clinical communication solution, and business change management services.
The total contract value (TCV) for the extension is $2 million, which increases the TCV of the entire South Tees contract to $11.3 million.
This follows its milestone $9.3 million deal with South Tees for its flagship product suite Miya Precision and the Better OPENeP electronic prescribing and medicines administration (ePMA) system in November.
South Tees is the largest hospital trust in Tees Valley in the United Kingdom. It has over 1,000 beds, employs approximately 9,000 clinical and operational staff, and provides care for more than 1.5 million people.
What is involved with the new contract?
Alcidion’s Smartpage product will provide South Tees with clinical team communication and collaboration capabilities to the Miya Precision solution. This enables integrated secure alerting and escalation within and between clinical teams at South Tees.
Whereas the proposed cloud hosting and management service will provide South Tees with a secure hosting environment and the skills required to maintain the environment from Alcidion’s technical services team.
In addition, management notes that a program as large as this one requires business change management that focuses on managing the impact of changed systems and business processes. This is to ensure optimal adoption of the technology and the realisation of anticipated business benefits.
In light of this, South Tees has engaged Alcidion to map out the plan for a program of change management across the life of the project to support positive outcomes.
Alcidion’s Managing Director, Kate Quirke, said: “Following the initial announcement of our contract with South Tees for Miya Precision and Better’s OPENeP solution last month, we are pleased to build on our partnership.”
“With the addition of Smartpage, South Tees will now be utilising the complete Alcidion product suite, and we are glad to provide further hosting and managed services to best assist South Tees with the implementation of Alcidion’s technology to address their clinical and operational needs,” she added.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Alcidion Group Ltd. The Motley Fool Australia has recommended Alcidion Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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