Oneview deploys new technology with five-year contract
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In a development that is likely to propel Oneview Healthcare Plc’s (ASX:ONE) shares even higher, the health-tech group signed a 5-year contract extension with Epworth HealthCare, the largest private health service in Victoria.
Not only is this positive news from a financial perspective in terms of contributing to the company’s long-term visible income stream, as Epworth stands as Oneview’s largest customer in Australia and second largest globally by number of beds, it represents a strong endorsement of the company’s products and services.
The Oneview platform is currently deployed across eight Epworth hospital locations in approximately 1,440 beds.
Epworth will also be expanding the footprint with Oneview in its redevelopment at Epworth Eastern at Box Hill with an additional 63 beds.
Oneview’s shares have increased nearly 500% in the last three months, but with this development providing a significant financial boost and the prospect of further contract flow adding momentum, it wouldn’t be surprising to see the company break above this year’s record closing high of 46 cents struck in mid-April.
Deployment of new technology and increased footprint
As part of the contract renewal, Epworth will be migrating to Oneview’s new Next Generation CXP Enterprise platform and deploying GMS certified healthcare grade 22” Android devices across its diverse care settings.
By way of background, Oneview Healthcare provides digital tools for patients, families, and caregivers to improve the care experience.
By unifying a facility’s systems, content and services into one digital platform with dedicated devices at the point of care, Oneview helps deliver more control for patients and families, more time for care teams, and less complexity for executives and IT teams.
The company’s products have been embraced on the international stage, partnering with leading healthcare systems in the US, Australia, the Middle East and Asia.
Win-win situation between tech provider and health care client
Discussing the nature of the complementary relationship between Oneview and Epworth, chief executive James Fitter said, “We have enjoyed a very special partnership with Epworth dating back to our initial deployment at Epworth Eastern in Box Hill in January 2015.
"They have been the inspiration for much of our innovation in the Australian market and encouraged us to broaden the platform to include an extensive suite of care team applications which have become an integral part of their care delivery model.”
Highlighting the benefits of Oneview's technologies in the patient care environment, Dr Lachlan Henderson, group chief executive, Epworth HealthCare said, ‘’The agreement will enable Epworth to take digital healthcare into the future.
"The Oneview point-of-care platform has changed the way we deliver care to patients, as well as providing our patients with a unique entertainment and connected experience.
"Our nurses and doctors access our Oneview point of care screens 20,000 times a day, allowing them to update patient information and access medical imaging, radiology and pathology results, at the bedside.
"Patients can also see information about their care and discharge plan.”
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