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Vection Technologies (ASX:VR1) - Managing Director, Gianmarco Biagi - The Market Herald
Managing Director, Gianmarco Biagi
Source: Confindustria Emilia
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  • Vection Technologies (VR1) bolsters its total contract value (TVC) for the 2022 financial year to around $1.8 million
  • The boost comes from $500,000 in additional contracts secured across the healthcare and pharmaceuticals, public sector and education industries
  • VR1 launched its healthcare and pharmaceutical division back in March
  • Managing Director Gianmarco Biagi says he is confident Vection will see continued growth over the calendar year
  • Shares are up by 5.2 per cent to eight cents each at 11:56 am AEST

Vection Technologies (VR1) has bolstered its total contract value (TVC) for the 2022 financial year to around $1.8 million.

The multinational software company is focussed on developing real-time technologies to target digital transformation in industrial businesses.

The updated TVC is thanks to roughly $500,000 in additional contracts secured across the healthcare and pharmaceuticals, public sector and education industries.

Accordingly, VR1's latest clients include biopharmaceutical developer Swedish Orphan Biovitrum, as well as Trenitalia, MUNER and the New York Institute of Technology.

The company first launched its healthcare and pharmaceutical division back in March to leverage the digital transformation trend in biotechnological, medical devices and nutraceutical market segments.

Vection Technologies Managing Director Gianmarco Biagi said the company was confident it would see continued growth over the calendar year.

"Multiple industry-focussed verticals are addressing singular market needs, deploying our core technology stake with unparalleled knowledge and expertise," he said.

While not yet material, the company expects to complete the latest contracts over the next one to six months.

Shares were up by 5.2 per cent to eight cents each at 11:56 am AEST.

VR1 by the numbers
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