The All Ordinaries Index (ASX: XAO) has broken into the green and trades 1.1% higher in morning trade on Monday.
Indeed, with a new month comes a new set of monthly returns. After some volatility in recent weeks, investors look to embark on a new set of investment conditions in July.
One All Ordinaries share that’s taken off today is Volpara Health Technologies Ltd (ASX: VHT). Its share price is tracing 17.02% higher from the open at 55 cents.
Investors are jumping on the breast-screening software company’s shares following a company announcement of a new contract win.
Indeed, Volpara’s management says revenue from the contract “will be material” to the company.
What did Volpara announce?
Volpara advised it has signed a contract with Radnet Management, Inc. for an initial contract period of 42 months. The contract has a mutual option to extend.
The company says Radnet is the largest provider of outpatient imaging services in the United States with 353 imaging centres and 9,000 employees.
Under the agreement, Radnet will implement the Australian company’s Volpara Analytics and Volpara Risk Pathways software throughout its various sites.
The company’s announcement said:
Planning for the implementation has begun, with go-live projected in 2023.
Management expects that revenue generated under the agreement will be material to the company.
Speaking on the announcement, Volpara’s CEO Teri Thomas was “pleased to partner” with Radnet. She said:
This is a broader partnership than a simple software purchase. We look forward to a deep engagement with Radnet as part of our focus on industry impacts and customer success of âelephant-sizedâ industry leaders.
In the last 12 months, the Volpara share price has slipped around 57% into the red.
The post This ASX All Ordindaries healthcare share is ripping 17% higher amid a new contract win appeared first on The Motley Fool Australia.
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Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended VOLPARA FPO NZ. The Motley Fool Australia has positions in and has recommended VOLPARA FPO NZ. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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