Houston We Have (ASX:HWH) - Managing Director & CEO, Elizabeth Whitelock
Managing Director & CEO, Elizabeth Whitelock
Source: Business Insider
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  • Houston We Have (HWH) has secured new contracts and expanded existing ones across the healthcare sector, bringing in roughly $130,000
  • Speaking of the win, the company notes the “modest” revenue primarily underlines that there’s room for the business to grow
  • Six months ago, the artificial intelligence company acquired health insurance analytics provider, Prometheus to jointly offer their solutions
  • Now, the acquisition’s importance has been validated by these contract wins
  • Shares are up 16 per cent and trading for 2.9 cents apiece

Houston We Have (HWH) has secured new contracts and expanded existing ones across the healthcare sector, bringing in roughly $130,000.

The company stated in today’s announcement that while this is a “modest” number, the main point of focus is that it has successfully cross-sold services that the integrated Houston We Have and Prometheus is now marketing.

Houston We Have acquired Prometheus in October 2019. Prometheus is a business offering intelligent, data warehousing and analytical solutions. It specialises in the health insurance sector, with a focus on identifying fraud, waste and claim abuse by providers and members.

The contracts include a partnership which involves the Queensland Country Health Fund deploying the company’s Intelfuze Augmented Intelligence technology. Another client, the Australian Regional Health Group, is soon going live with Prometheus’ analytical and reporting solutions to drive greater insight and outcomes for its health fund customers.

The artificial intelligence company has also secured contracts relating to COVID-19. Works include extensions to the ancillary fraud module to assist health funds in understanding provider behaviour during the COVID-19 period, and reporting for Health Fund clients to determine the impact of COVID-19 on members and service levels.

“The cross-selling synergies we promised from the Prometheus acquisition are now materialising and we anticipate more contract wins and extensions to be locked in as a result,” Managing Director and CEO Elizabeth Whitelock said.

“As more companies navigate their way through the current market and changing consumer behaviour, we confidently expect that our pipeline of opportunity and tenders will continue to grow as a result,” she added.

While Houston We Have is encouraged by all contracts, it’s particularly pleased with the Queensland Country Health Fund partnership, as it is an existing Prometheus client that has bought into the integrated, broader solution.

Shares are up 16 per cent and trading for 2.9 cents apiece at 3:06 pm AEST.

HWH by the numbers
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