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The investments regulator has kept the heat on ASX Ltd (ASX: ASX) for its 16 November systems crash, ordering it to conduct an independent review.

Australian Securities and Investments Commission (ASIC) continues to assess whether ASX is fit to hold its share market licence. 

In a sign that this assessment is not casting the best light on the company, ASIC and the Reserve Bank of Australia have notified ASX that it should perform an independent review within the next 6 months.

The concern for ASX holding the market licence is whether it “has sufficient financial, technological and human resources to operate its markets”.

Critics have pointed to the virtual monopoly the company enjoys, citing that it provides no incentive for it to invest sufficiently in infrastructure.

OpenMarkets chief executive Ivan Tchourilov said in October after an ASX website crash that its dominance was unhealthy.

“The industry is concerned that ASX has too much power to dictate play and there isn’t much of an opportunity for competitors to create a diverse environment that will ultimately benefit customers.”

ASX Ltd confirmed to The Motley Fool that it will complete an independent report. 

“We are focused on operating a safe and reliable market, and restoring confidence,” said an ASX spokesperson.

Broking firms told off for not having a backup to ASX

ASIC also took aim at broking firms for not having a backup to ASX available for their clients.

The sole reliance on the ASX only consolidates the monopoly. The regulator is also concerned that not having a backup fails brokers’ “best execution” obligations to clients.

Chi-X is an alternative market in Australia where trades for a subset of ASX-listed shares can be executed.

ASIC is alarmed at how it didn’t experience an increase in volume on 16 November when the ASX was down for most of the day.

“Participants’ duties to their clients, including the obligation to take reasonable steps to obtain best execution, do not fall away where there has been a market outage or disruption,” said ASIC commissioner Cathie Armour.

“The behaviour of market participants during this outage indicated too many firms are reliant on the ASX to trade listed securities. With a fully functioning alternative venue available, we are examining why far more trading did not occur on Chi-X on the day of the outage.”

In the coming year, the regulator will review what business continuity arrangements market participants (ie brokers) have in place.

Some broking platforms, like CommSec, already have Chi-X available as an alternative place of trade execution. Such providers were able to continue to provide a partial service to their clients on 16 November.

More reading

• Why zero-fee apps will never exist for ASX shares
• Top brokers name 3 ASX shares to sell next week
• Will ASX kick out companies that don’t have board diversity?
• Meet the most unpopular ASX large cap stock according to analysts
• Why ASX, Kogan, Myer, & Northern Star shares are dropping lower

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The S&P/ASX 50 index may not be as well-known as the S&P/ASX 200 Index (ASX: XJO), but it is arguably just as important.

This exclusive index is home to 50 of the largest companies on the Australian share market. These include household names and companies that are regarded as true blue chip shares.

While not all shares on the index are necessarily in the buy zone, two that come highly rated are listed below:

Goodman Group (ASX: GMG)

Goodman Group is one of the world’s leading integrated commercial and industrial property companies. It owns, develops, and manages industrial real estate globally. This includes warehouses, large scale logistics facilities, and business and office parks across a total of 17 countries. 

The company has been growing at a solid rate over the last decade thanks to its high quality portfolio. Management has curated its portfolio to give it exposure to industries benefiting from structural tailwinds such as online, logistics, food, consumer goods, and the digital economy.

Morgan Stanley is a fan of the company and was pleased with its recent first quarter update. It believes the company’s focus on strong locations is paying off. The broker has an overweight rating and $20.90 price target on its shares.

Xero Limited (ASX: XRO)

Xero is actually the newest addition to the ASX 50 index, having only joined it on Monday following the quarterly rebalance. It is a leading cloud-based business and accounting software provider with a focus on small to medium sized businesses.

Thanks to its highly successful evolution into a full service small business solution over the last few years, Xero has been growing its customer numbers and recurring revenues at a rapid rate. This has underpinned very strong returns for shareholders.

Pleasingly, due to the quality of its offering, the ongoing shift to cloud-based solutions, its global market opportunity, and burgeoning app ecosystem, Xero has been tipped for more of the same in the future.

Analysts at Goldman Sachs are very positive on its prospects. They recently put a buy rating and $157.00 price target on the company’s shares.

More reading

• The most crazy ASX chart of 2020
• Buy these ASX blue chip shares for your retirement portfolio
• How useful is the P/E ratio in assessing ASX shares?
• These are the 5 best ASX real estate shares of 2020
• Why 2021 may be an even better year for ASX investors

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 Xero. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The Over the Wire Holdings Ltd (ASX: OTW) share price is edging lower on Tuesday following the release of a business update.

At the time of writing, the telecommunications, cloud and IT solutions provider’s shares are down 2.5% to $4.35.

What was in Over the Wire’s update?

Over the Wire’s update provided investors with guidance for the first half and revealed a major new contract win.

In respect to the contract win, the company revealed that it has recently been awarded a contract with Eagers Automotive Ltd (ASX: APE).

According to the release, the contract will see Over the Wire provide Eagers Automotive with SD-WAN, WAN carriage, ongoing management services, and assistance with Internet Security across its Australia and NZ-wide operation.

Management expects this to contribute meaningfully to its revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) from the second half of FY 2021.

In the meantime, Over the Wire is forecasting EBITDA to be in the range of $10 million and $10.5 million during the first half. This will be a 22% to 28% increase on the EBITDA of $8.2 million it achieved in the prior corresponding period.

However, FY 2021’s EBITDA has been boosted by the acquisitions of Zintel, Fonebox, and Digital Sense.

Management advised that its existing businesses are expected to contribute ~$7.5 million to $8 million EBITDA in the first half, which implies a year on year decline on a like for like basis. This may be why its shares are underperforming today.

The company believes this is a commendable performance considering that non-recurring revenue is expected to be c.$3.5 million below initial expectations. This reflects client caution on some project spend in recent months. Over the Wire is also facing a reduction in recurring data services revenue of ~$1 million as a result of the migration to NBN and clients downsizing services to reduce costs.

Outlook.

The company remains confident about its prospects for the second half and beyond.

It continues to invest heavily to strengthen its competitive position, build on the positive sales results in the first half, and generate growing revenue and EBITDA from its recent acquisitions.

Over the Wire’s Managing Director, Michael Omeros, commented, “In a challenging period for most of the community, I am proud of the significant achievements of the company in this half, which is a credit to the whole team at Over the Wire. As a result of our progress, we enter the new year in even better shape to support our clients as we continue simplifying technology to empower business.”

More reading

• These are the 7 best ASX retail shares in 2020
• ASX 200 up 0.55%: Altium update, Afterpay jumps, NAB given ACCC approval
• Why Afterpay, Alcidion, Eagers Automotive, & Pacific Smiles are storming higher
• Trading at record highs, why the Eagers (ASX:APE) share price is lifting again today
• ASX 200 drops on Friday

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 Over The Wire Holdings Ltd. The Motley Fool Australia has recommended Over The Wire Holdings 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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A2 Milk Company Ltd (ASX: A2M) may have lost its market darling status after yet another earnings downgrade. After reviewing A2’s updated FY21 and first half guidance provided on 18 December, Citi and Morgan Stanley slashed their A2 Milk share price targets. Here’s the rundown of what happened and how the brokers view A2 moving forward. 

Recovery slower than expected 

A2’s daigou channel represents a significant proportion of its domestic infant nutrition sales in the Australia/New Zealand region. In A2’s guidance update, the company revealed disruption to the channel has proved to be more significant than previously anticipated. Not only has this affected infant nutrition sales, but sales in other nutritionals segments have now also been impacted. 

The company now expects that COVID-19 related travel restrictions will continue to negatively impact the reseller channel due to reduced travel between Australia and China through the remainder of FY21. Its internal sales forecasts for both the daigou and cross border e-commerce channel (CBEC) for the remainder of FY21 are now materially lower. 

The update did highlight some positives including a strong performance in its Mother & Baby Stores (MBS) and liquid milk businesses in Australia and the United States. However, these segments represent a smaller percentage of the company’s revenue when compared to daigou and CBEC sales. 

1H21 and FY21 guidance lowered

A2 now expects group revenue for the first half of FY21 to be in the order of $670 million, noting that the second quarter will be higher than the first quarter. Its group revenue for FY21 is expected to be between $1.40 billion and $1.55 billion. 

This compares to the company’s previous FY21 outlook announced on 28 September, which forecasted group revenue for the first half of FY21 of $725 million to $755 million and group revenue of $1.80 billion to $1.90 billion for FY21. 

A2’s updated FY21 first half performance represents a 16.9% decline compared to its FY20 first half revenue of $806.7 million. Meanwhile, the company’s updated FY21 revenue represents a 10.4% to 23.1% decline on FY20 revenue of $1.73 billion. 

Brokers slash A2 Milk share price targets 

Both Citi and Morgan Stanley updated their A2 Milk share price targets on Monday after reviewing the company’s guidance update.

Citi retained a sell rating while lowering its price target from $14.20 to $9.50. This represents an 8.6% downside to the current A2 Milk share price of $10.39 (at the time of writing). The broker reacted negatively to the company’s revised profit guidance and was disappointed by the magnitude of the downgrade. Citi cut its expected A2 Milk earnings for FY21 by 15% and by over 20% for FY22 and FY23. 

Surprisingly, Morgan Stanley upgraded its price rating from underweight to equalweight. This rating upgrade was simply due to the significant fall in share price. The broker lowered its A2 Milk share price target from $12.40 to $11.00, or an upside of 5.9% to its current price. In doing so, Morgan Stanley highlighted A2’s lower sales, building margin pressures and daigou channels remaining severely impacted by the pandemic. 

More reading

• What does China have to do with the a2 Milk (ASX:A2M) share price?
• Leading brokers name 3 ASX shares to buy today
• ASX 200 down 0.4%: NIB jumps, a2 Milk rebounds, WiseTech sinks lower
• Is the a2 Milk (ASX:A2M) share price in the buy zone after last week’s 22% decline?
• These are the 10 most shorted shares on the ASX

Motley Fool contributor Lina Lim has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended A2 Milk. 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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The Cann Group Ltd (ASX: CAN) share price has rocketed up today on news the company has shipped its first order to a supply partner in the United Kingdom. At the time of writing, the Cann share price is up 13.3% at 56 cents after reaching an early high of 57.5 cents.

What did Cann announce?

In today’s release, Cann advised that United Kingdom distribution partner, Astral Health has received its first shipment of medicinal cannabis oil.

Astral Heath, a member of the LYPHE Group, took delivery of the products as part of LYPHE’s participation in Project Twenty21.

The exclusive supply agreement was formed with Astral Health in May 2020. The contract is valid for 5 years and will see Cann provide medicinal cannabis products to LYPHE through the Project Twenty21 initiative.

What is the LYPHE group?

The LYPHE Group is a leading European company that provides medicinal cannabis across an array of distribution channels. These include medicinal cannabis clinics, online pharmacies, and healthcare practitioner training.

More on Project Twenty21

Launched in November 2019, Project Twenty21 is a registry that enables access patients to acquire medical cannabis. In addition, the program records information on how effective the treatment is on each patient.

So far, more than 8,000 patients have enrolled into the registry through healthcare clinics or subscribing independently. This has made it the largest medicinal cannabis recruitment program undertaken in Europe. By the end of 2021, Project Twenty21 aims to enlist more than 20,000 patients, further improving access to treatment.

What did management say?

Cann Group CEO Shane Duncan said the company had worked hard to obtain all the necessary permit approvals.

With UK doctors able to prescribe Cann’s medicinal cannabis products to patients from next week, he said:

It is an exciting step forward to get this first shipment off to support such a significant initiative in the UK, which helps position Cann as a leading supplier of medical cannabis in international markets that are continuing to gain momentum.

Cann share price summary

The Cann share price has been hit particularly hard during the wider COVID-19 market selloff this year. Its shares plunged from a 52-week high of $1.83 in January to an all-time low of 29 cents in October. That reflects an 84% decrease for shareholders over that period of time.

Although the Cann share price has surged higher today, it still has a long way to go to reach pre COVID-19 levels.

More reading

• 5 top ASX cannabis shares in 2020
• ASX pot stocks have been skyrocketing in December
• Why the Cann Group (ASX:CAN) share price is up 76% this week
• Cann (ASX:CAN) share price flying after AGM
• Cann Group (ASX:CAN) share price rockets on NAB (ASX:NAB) update

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The Unibail-Rodamco-Westfield (ASX: URW) share price is falling this morning after the latest acquisition announcement from the European-based real estate group.

At the time of writing, the Unibail share price is trading down 3.28% at $4.72.

What is Unibail-Rodamco-Westfield?

The group is Europe’s largest commercial real estate company and trades as a real estate investment trust (REIT) on the ASX.

Unibail purchased the USA and UK Westfield assets for a reported US$24.8 billion in Decenber 2017. The Australian and New Zealand Westfields centres remain under the control of Scentre Group (ASX: SCG).

What did the property group announce?

Unibail announced yesterday that it will sell several office assets out of the group. The real estate group has entered into separate agreements with several French institutional investors for the sale of its Village 3, Village 4 and Village 6 office buildings.

The total net disposal price of €213 million (A$343.7 million) represents a premium to the last unaffected book value.

The transactions are subject to standard conditions precedent and expected to close in the first quarter 2021.

The latest disposals are part of Unibail’s €4 billion (A$6.5 billion) disposal program, with the company having completed €0.8 billion (A$1.3 billion) once these transactions settle.

How has the Unibail share price performed?

Shares in the Aussie REIT have been steaming home ahead of Christmas and the New Year. The Unibail share price has rocketed 70.0% higher since November 9 and is currently trading at $4.72 per share.

However, the group’s shares are still trading well below their $11.40 52-week high set in December 2019. 

The Unibail share price has still fallen 56.6% for the year. Coronavirus concerns continue to weigh on the REITs as profitability remains under pressure.

Foolish takeaway

The Unibail share price is one to watch this morning as the European real estate manager continues on with its €4 billion asset disposal program.

The S&P/ASX 200 Index (ASX: XJO) closed flat on Monday at 6,699.9 points in a middling start to the week.

More reading

• US Congress finally confirms more stimulus. Higher markets to follow?
• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 ends slightly down
• Why the Medibank (ASX:MPL) share price surged 4% higher today
• What will happen when Tesla (NASDAQ:TSLA) joins the S&P 500 today?

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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BHP Group Ltd (ASX: BHP), Fortescue Metals Group Limited (ASX: FMG), and Rio Tinto Limited (ASX: RIO) shares are dropping lower today despite a big jump in the iron ore price on Monday.

According to CommSec, the spot iron ore price jumped a massive 7.8% higher to US$176.90 a tonne. This means the steel making ingredient is trading at a nine-year high.

Why did the iron ore price jump higher?

The iron ore price jumped higher yesterday amid concerns over a supply outage at one of Vale’s mines in Brazil.

According to Reuters, a landslide at the mine near the site of the 2019 Brumadinho dam disaster tragically buried and killed a worker on Friday.

The worker, who was employed by a Vale contractor, was in a bulldozer when the side of a pit collapsed at the Corrego do Feijao mine.

While the extent to which Vale’s production will be affected following the accident remains unclear, traders appear to believe the suspension of activities will have a big impact on Vale’s iron ore production in the near term. This has driven the spot price to levels not seen since 2011.

What does this mean for the iron ore miners?

With the iron ore price fetching US$176.90 a tonne, BHP, Fortescue, and Rio Tinto are generating significant free cash flow from their iron ore operations.

For example, BHP’s cost guidance for iron ore in FY 2021 is US$13 a tonne to US$14 a tonne. Whereas Fortescue is currently pulling iron ore out of the ground with a C1 cost of just US$12.74 per wet metric tonne. Finally, Rio Tinto is targeting Pilbara iron ore unit costs of US$14 to US$15 per tonne.

With prices as high as they are and these miners boasting such low costs, it will come as no surprise to learn that they are being tipped as generous dividend payers in 2021.

More reading

• 2 ASX shares with huge fully franked yields
• ASX 200 Weekly Wrap: ASX hits new post-March high
• How useful is the P/E ratio in assessing ASX shares?
• UBS unveils its latest ASX “buy” idea for 2021
• Why Bapcor, Fortescue, Nufarm, & Saracen shares are pushing higher

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The Zip Co Ltd (ASX: Z1P) share price continued its theme of underperformance on Monday, falling another 5% to a 7-month low of $5.17. As the Zip share price begins to approach pre-QuadPay acquisition levels, could it be a buy? 

Macquarie cautious on Zip share price 

Macquarie Group Ltd (ASX: MQG) cautiously raised its Zip share price target from $4.95 to $5.05 while retaining an underperform rating last Friday. The broker sees the recent capital raising as a small positive but notes building risks. 

Zip capital raising to fuel growth

Zip successfully completed a $120 million capital raising last Thursday to fuel its growth in existing countries, explore new markets and further product expansion. 

The issue price for the placement shares was $5.34, representing a 4.1% discount to its last traded price pre-capital raising on 16 December. The placement represents approximately 4.3% of its total issued capital before the placement. 

Zip capital raising updates 

US growth is accelerating 

Zip’s capital raising presentation highlights that 58% of the raise, or $85 million, will be used to continue the company’s growth trajectory in the United States. The US represents an addressable retail market of $5 trillion and a significant opportunity to capture market share. Zip’s growth so far has been strong, with November 2020 transactions increasing 205% to $264.2 million compared to November 2019. Its figures come as no surprise given a recent Afterpay Ltd (ASX: APT) update highlighted a 186% increase in sales to $1.0 billion for the month of November, compared to the prior corresponding period. 

New markets division to capitalise on global opportunity 

Zip recently set up a ‘new markets’ division. According to the company, the division leverages deep expertise and executes across product, engineering, regulatory and growth functions to tailor its entry to local requirements and consumers. 

This division has hit the ground running with investments in two high-performing, culturally aligned existing players to quickly gain access and acquire customers. 

These include Spotii, a buy now, pay later (BNPL) player headquartered in the United Arab Emirates focused on the Gulf Cooperation Council (GCC) region. Zip believes that, together, the two companies will provide a wealth of new opportunities for GCC merchants, drive new customer acquisition, accelerate revenue growth and expand the local BNPL market. 

Zip has also entered into a non-binding agreement with Twisto, a payments platform operational in Czechia and Poland. Its position in the European Union may also open the ability to license across the rest of Europe. 

Bring further scale to Zip business 

Arguably, Zip’s operation in the small business space could be seen as a unique differentiator against other BNPL players. The company has established enterprise partnerships with big names such as eBay Inc and Facebook Inc, to help small businesses access Zip’s buy now pay later digital wallet to help run their business and pay for everyday expenses interest free. 

At the time of writing, the Zip share price is trading nearly 2% lower at $5.07.

More reading

• New BNPL enters ASX: How it promises to be different
• Top brokers name 3 ASX shares to buy next week
• Could this be the saving grace for the Zip Co Ltd (ASX:Z1P) share price?
• Here’s how ASX buy now, pay later (BNPL) shares have performed in 2020
• ASX 200 rises on Thursday

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Lina Lim has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Facebook. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends eBay. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Facebook. 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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The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price has come under pressure on Tuesday and is dropping lower.

At the time of writing, the banking giant’s shares are down 0.5% to $23.18.

Why is the ANZ share price under pressure?

As well as being dragged lower by the broad market weakness, investors may have been selling shares due to the release of an announcement.

That announcement reveals that the bank’s chief financial officer, Michelle Jablko, has decided to leave the company. This follows her decision to take up a senior role at toll road operator Transurban Group (ASX: TCL).

Ms Jablko has been with the bank since 2016 and has been both its Chief Financial Officer and a member of the bank’s Executive Committee. She was also appointed a director of ANZ Bank New Zealand in March 2018.

ANZ’s Chief Executive Officer, Shayne Elliott, commented: “While we are disappointed Michelle is leaving, we respect her decision and wish her the best in her new role. Michelle can be incredibly proud of all she has achieved at ANZ.”

“As a highly strategic CFO, she has transformed our finance function while also being instrumental in the simplification and strengthening of the organisation. She will always remain a good friend of the bank and I personally thank her for her considerable contribution over the past four and a half years,” Mr Elliott added.

What now?

ANZ has advised that it will conduct an internal and external search for a replacement.

In the meantime, Ms Jablko will transition her duties over the coming months to current Group General Manager Internal Audit Shane Buggle, who will be appointed Acting Chief Financial Officer.

Mr Buggle has with the bank for over 20 years in senior finance roles and was Deputy Chief Financial Officer from 2012 until 2018.

More reading

• ASX 200 Weekly Wrap: ASX hits new post-March high
• 2 blue chip ASX dividend shares to buy next week
• Brokers name 3 ASX shares to buy right now
• 2 blue chip ASX dividend shares to buy
• 3 key takeaways from the ANZ annual general meeting

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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In morning trade the Doctor Care Anywhere Ltd (ASX: DOC) share price has been a strong performer.

At the time of writing, the UK-based telehealth company’s shares are up 11.5% to a record high of $1.34.

This latest gain means the Doctor Care Anywhere share price is now up 68% from its 4 December listing price of 80 cents.

Why is the Doctor Care Anywhere share price pushing higher?

Investors have been buying the company’s shares this morning after it announced the signing of a new channel agreement with Allianz Partners, one of the world’s largest insurance and assistance companies.

Management notes that this marks the company’s first international private medical insurance (iPMI) agreement in Europe following the expansion of its offering to the Republic of Ireland in October.

What does this mean?

This agreement will give Allianz Partners iPMI policyholders and their dependents based in Europe access to Doctor Care Anywhere’s digital health services. This includes its virtual GP consultations.

According to the release, the company is aiming to launch the product in Europe in January 2021. The two parties have signed an “evergreen” agreement with no set expiry period.

Doctor Care Anywhere will receive a fixed price per consultation, with consultations to be provided by the company’s Irish Medical Council-registered clinicians.

The company advised that the new agreement will sit alongside its existing channel relationships with other leading global insurers and hospital groups.

Doctor Care Anywhere’s Founder and CEO, Dr Bayju Thakar, commented: “We are thrilled by the opportunity to work with another world leading insurer; this is further recognition of the value that the Doctor Care Anywhere platform brings to patients, payors and providers.”

“Being engaged by Allianz Partners adds to the company’s growth trajectory and supports our ability to service patient needs globally. This agreement is integral to our strategic plans for 2021 and beyond, helping us to deliver joined-up, accessible, quality health and disease care in the UK and globally,” he concluded.

More reading

• ASX 200 goes up on Friday
• Doctor Care Anywhere (ASX:DOC) share price rockets 37% higher after its IPO
• Why Cashrewards, Doctor Care Anywhere, Kogan, & Treasury Wine are pushing higher

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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