Alcidion FY16 Update: Public Listing, $2.35m MoU with Western Health, $2.20m to Research & Development

Alcidion Group Limited (ASX: ALC), an innovative health informatics company, has had an exciting past 12 months following its public listing on 29^th February 2016.

The healthcare industry has realized that the traditional approaches to patient flow are inadequate to keep pace with the emerging challenges. Therefore, patient flow management solutions will be among the priorities on the investment list of healthcare organizations for highly streamlined patient flow outcomes and cost management.

The company executed a $2.35m MoU with Western Health marking the commencement of its commercialization strategy, for its range of award winning software solutions.

During FY16, the Company committment $2.20m to Research & Development, principally focussing on the development of its highly anticipated Computerized Physician Order Entry platform and the deployment of this technology at our luminary site in the Northern Territory.

ABOUT ALCIDION GROUP 

Alcidion is the brainchild of the former CEO of the SA Heath Department and Professor Malcolm Pradhan, a Stanford qualified physician. Over the past decade, Alcidion has invested $15m into the R&D of the cutting edge Clinical Decision Support System and is now focussed on commercializing the technology.

The introduction of Patient Protection & Affordable Care Act 2010 (“Obamacare”) requires US hospitals to accelerate the adoption of Electronic Medical Records.  Alcidion is a leading supplier of these systems in Australia and is now seeking to expand its operations into the United States.

The company is backed by Allure Capital, the private investment vehicle of technology entrepreneur Mr. Nathan Buzza and BlueSky Private Equity (ASX:BLA).  Mr Buzza was previously the second largest shareholder of Clinical Middleware Provider, Azure Healthcare (ASX:AZV), which catapulted into the spotlight after the stock rocketed from 3.3c to 34c over his two and a half year tenure.