- Health informatics specialist Alcidion (ALC) has entered a two-day trading halt this morning as it gears up to tap investors for some fresh funds
- The company is yet to release the details of the raise but flagged an accompanying acquisition today
- As such, it's likely the fresh cash boost will be used to support a company purchase
- At this stage, Alcidion is slated to release the details of the capital raise before market open on Friday, April 16
- Taking a look at the company's latest financial reports, Alcidion posted a gross profit of $9.8 million over the first half of the 2021 financial year
- Moreover, Alcidion had $12.5 million in cash reserves at the end of December 2020
- Shares in Alcidion last traded yesterday afternoon for 34 cents each
Health informatics specialist Alcidion (ALC) has entered a two-day trading halt this morning as it gears up to tap investors for some fresh funds.
While the details of the raise are yet to be announced, Alcidion said today's trading halt is in relation to an acquisition and capital raising — meaning the fresh influx of funds will likely be used to support a company purchase.
At this stage, Alcidion is slated to release further details about the capital raise and acquisition on Friday, April 16.
Easy clinical care
Alcidion has created a tech platform designed to streamline hospital and health care centre operations and make clinical support easier for doctors, patients and carers.
With separate independent IT systems typically used in hospitals, GP clinics and nursing home, it can be a tedious process transferring patient information from one system to another.
Similarly, different departments inside a hospital can all store data independently — a patient's information from the laboratory and radiology departments might need to be manually combined by a doctor, while bedside observations from nursing staff are done on paper.
Alcidion's platform fixes this by integrating the IT systems of different departments and even different venues into one simple platform to make all necessary patient information available to all necessary doctors and carers.
Taking a look at the company's latest financial reports, Alcidion posted a gross profit of $9.8 million over the first half of the 2021 financial year, driven by half-yearly revenue of $11.1 million.
In late February, the company said it had $21.7 million in contracted revenue to be recognised over the full 2021 financial year, with another $23 million of sold revenue to be recognised over the next five years.
At the end of December 2020, Alcidion had $12.5 million in cash reserves to fund operations moving forward.
Shares in Alcidion Group last traded for 34 cents each yesterday afternoon. The company has a $332 million market cap.