ONE now available to an additional 85 hospitals across 15,000 hospital beds

Our medtech Investment Oneview Healthcare (ASX: ONE) just put out its December quarterly report.

We are Invested in ONE because we think tech will slowly become more and more integrated into modern hospital rooms.

Here are some of the products ONE offers:

(source)

ONE is already in 14,880 rooms (which it refers to as endpoints).

ONE also has a partnership in the US with one of the biggest suppliers of products into hospitals, including hospital beds - $16BN Baxter international.

This partnership involves a “Value-Added Reselling Agreement” signed back in June 2023 (source).

Basically, it's a deal that would allow for Baxter to sell ONE’s tech into their existing sales channels.

We have been waiting for ONE to get a big deal over the line with Baxter’s network of customers and today…

…ONE announced that its products and services would be included in a deal that applies to a “health system with over 85 hospitals and over 15,000 beds”

So with access to that network, ONE could have access to a pipeline that could double its current “endpoints”.

(source)

Ultimately we want to see ONE convert that big pipeline into endpoints:

(source)

Of course, this doesn't mean ONE will definitely get installed into all of those rooms, but at least the company has direct access to that pool of leads now.

We actually listened in on the AGM back in December (see our key takeaways here) where ONE’s MD James Fitter talked about how ONE’s sales pipeline was at an all time high…

He made specific mention of the >180 prospects and 48,000 endpoints in ONE’s sales pipeline (which is material given ONE had 14,372 endpoints live at the end of Q3-2025).

As of the end of the year, this has now increased to 14,880 endpoints with over 500 added in the quarter, increasing by just over 3.5%.

Here is a nice slide from ONE’s most recent presentation, which shows that those 180+ opportunities could mean >48,000 beds.

(Source)

During the AGM the company also confirmed “Several of the late-stage opportunities we’ve been pursuing are expected to close in the coming months, adding further new customer logos to our roster”.

(Source)

So hopefully we see a few deal announcements inside the coming weeks & months.

How about ONE’s the financials from the quarterly?

We also noticed a relatively strong improvement in ONE’s quarterly financials…

The main thing that stood out was how much ONE has managed to reduce overall cash burn.

Cash burn was €1.4M as opposed to €4.1M in the pcp.

Here were our key takeaways on the financials:

• ONE ended the period with a cash balance of approximately €4.6M, representing just over three quarters of available funding.
• There was a narrowed operating cash outflow of €1.4M, marking the second consecutive quarter of improved performance compared to €4.1M in the previous corresponding period.
• Cash receipts rose to €3.5M, a significant increase of 30% quarter-on-quarter and 130% year-on-year, driven by higher revenue and also some favorable timing of receipts.
• Operating costs remained stable compared to the previous quarter and were reduced by approximately €1.0M relative to the prior year.

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.

Again here is that US sales pipeline that was shown in the AGM back in December:

(Source)

🔄Launch of pilots for ONE’s AI virtual assistant tech:

After the recent release of Ovie, ONE can bring forward the market launch of its AI virtual assistant tech.

We want to see the product officially launched and being trialled by customers.