Alcidion

KATE QUIRKE

CEO & MANAGING DIRECTOR

ALCIDION GROUP

(ASX:ALC)

◾ Company Name: Alcidion Group ◾ Company ASX code: ALC ◾ Key areas: Smart technology for healthcare organisations to create a clinically relevant environment with digitally enabled care ◾ Key Personnel: Kate Quirke, CEO & Managing Director ◾ Locations: Australia, New Zealand, United Kingdom ◾ Market Cap as of 15/09/22: $183.87M ◾ 52 Week share price as of 15 September: $0.100 - $0.388 ◾ Company Website: www.alcidion.com

COMPANY PROFILE

The global healthcare landscape is rapidly evolving and Alcidion’s foresight has seen it establish itself as a leading force already delivering high-tech solutions others are only just starting to develop.

Alcidion has long been supplying software solutions that address the critical needs of healthcare such as greater demand for services and scarce resources.

The company’s focus is on providing tools to clinicians to enable a proactive, rather than reactive, approach to patient care. Using FHIR-based interoperability, user-centred design and real-time management of data flows, its flagship product Miya Precision streamlines clinical and logistics processes to facilitate timely and effective care.

The ever-increasing volume of patients flowing through hospitals and on hospital waiting lists continues to increase complexity and strengthens the value and benefits for interoperability of data and systems.

The popularity of the company’s smart, intuitive technology solutions is evident in the FY22 financials, which show a 96% year-over-year increase in new total contract value (TCV) sales, marking a new record of $57.7M.

Some of these new contracts are with customers where Alcidion is deploying the first modules of the Miya Precision platform into important and well recognised digital health leaders, such as the recent contract with Alfred Health.

Alcidion has also signed several upgrade agreements with existing longterm customers like Northern Territory Health and Western Health, underscoring their satisfaction with – and long-term commitment to – the company.

In the United Kingdom, at least one of Alcidion’s products is in 39 National Health Service (NHS) Trusts, or about 27% of all acute NHS sites.

In December 2021, the company completed the transformational acquisition of Silverlink PCS Software, one of the largest and few remaining specialist Patient Administration System (PAS) providers servicing the UK NHS market.

This was accompanied by a strongly supported $55M capital raising to complete the strategically important acquisition, which provided Alcidion with core PAS capability allowing the company to offer a cloud-native, modern and modular Electronic Patient Records (EPR) solution to rival global incumbents.

Importantly, the integration of Silverlink into Alcidion’s product suite strategically positions the company – both in terms of market perception and capability – to further expand its UK market penetration to 38 trusts (~26% market presence) while also expanding the addressable market.

In May 2022, the company announced it had been chosen to become part of a global consortium, led by Leidos Australia, to build a new $299M Health Knowledge Management (HKM) system for the Australian Defence Force (ADF).

The HKM system is a critical project for the ADF that will improve the care delivered to current and past military personnel. Importantly, the project has demonstrated that Alcidion’s solutions are increasingly scalable and able to play a central role in enabling integration across diverse healthcare settings.

Alcidion is backed by management with decades of experience and who are veterans in the healthcare information technology space.

Group managing director Kate Quirke has over 25 years’ experience and has held leading management roles at some of the largest healthcare software firms, including international healthcare software supplier iSOFT.

Chief medical officer Malcolm Pradhan has over 20 years of experience in medical informatics, making him one of the world’s leading minds in Clinical Decision Support. Prior to co-founding Alcidion in 2000, Malcolm was the associate dean of IT and director of Medical Informatics at the University of Adelaide.

KEY INVESTMENT HIGHLIGHTS

DECEMBER 16, 2021: Alcidion completes acquisition of Silverlink PCS Software, one of the largest and few remaining specialist Patient Administration System providers servicing the UK NHS market. MAY 3, 2022: Alcidion partners with consortium to build new $299M Health Knowledge Management system for Australian Defence Force. AUGUST 30, 2022: Alcidion delivers record new FY22 sales with a total contract value (TCV) of $57.7M, which is a 96% increase over FY21.