ONE appoints healthcare veteran Michael Dowling as director
Our health tech Investment Oneview (ASX: ONE) just appointed Michael Dowling to its board of directors.
Michael is the current CEO Emeritus of Northwell Health - New York’s largest integrated healthcare provider with 21 hospitals, 945+ outpatient facilities, and $19.7 billion annual revenue.
He was actually named as a “titan” on the TIME100 list and led Northwell to being the only health system on the TIME 2025 “most influential companies list”.
Oh and he has ranked in Modern Healthcare's 100 Most Influential People in Healthcare list for 16 consecutive years, achieving the #1 spot in 2022
Here is an old LinkedIn post from Michael related to this years inclusion:
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Michael will join ONE as a non-executive director from early December.
We think Michael coming onto ONE’s board is a great signal given he has such a high level overview of the healthcare industry in the US (which is the market ONE is trying to really grow into).
We think Michael could be coming onto the ONE board just as the company’s growth in the US is about to really start gaining momentum.
The latest on ONE’s expansion in the US
The key metric we are tracking with ONE is around deployments with new customers (also known as growth in the number of logos).
We covered ONE’s latest quarterly results, and noticed the Kennedy Krieger logo as a new addition in the US.
Kennedy Kriege operate a 70-bed inpatient facility serving children and adolescents nationwide.
Across the 3rd quarter, ONE also added ~850 endpoints and is on track to exceed 15,000 total live “endpoints” by the end of 2025.
ONE also said that it was in several discussions with potential new customer logos “before year-end” and reaffirmed that it was expecting to hit 15,000 live endpoints by the end of CY2025.
Endpoints is just another way of saying “beds” - which we think is a lot more applicable to ONE given the change in its business model.
I.e selling a digital whiteboard/digital doorsign and the BYO device solution isn't so much selling to a single bed, but more like selling to any room in a hospital so “Endpoint” makes a lot more sense.
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We also noticed ONE mentioned it had 180 different pipeline opportunities so it will be interesting to see what comes from those.
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Hopefully, some of that pipeline is coming off the back of ONE’s partnership with $17BN New York listed Baxter International.
And hopefully Michael’s addition to the ONE team helps with traction amongst those opportunities.
Baxter is one of the biggest suppliers of products into hospitals including hospital beds especially in the USA - so if ONE can start converting that sales pipeline into “endpoints” it could be very material for ONE.
The deal between ONE and Baxter has been live since ~2023…
The following slide from ONE’s most recent presentation shows just how big that opportunity is - 180+ opportunities, >48,000 beds:
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We also noticed recently that billionaire fund manager Will Vicars has increased his holding in ONE.
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Will added over 9 million shares in August to increase his holding to 38.58%, he is the co-chief investment officer at Caledonia, an independent global investment manager.
He has also been invested in ONE since before we announced our Investment.
What’s next for ONE?
🔄More contracted beds and logos:
More contracted beds and a transition to the more smoothed out revenue streams of a true SaaS model with MyStay.
ONE is reporting these in terms of “Endpoints” now, so we will be looking out for that number going forward.
Hopefully some of those late stage discussions can convert into big new logo additions for ONE over the coming months.
🔄Launch of pilots for ONE’s AI virtual assistant tech:
After today’s news ONE can bring forward the market launch of it AI virtual assistant tech.
We want to see the product officially launched and being trialled by customers.
