Friday, 16 April 2021 09:43

Health tech provider Alcidion snaps up patient flow firm ExtraMed

Health tech provider Alcidion snaps up patient flow firm ExtraMed Image by Shameer Pk from Pixabay

Digital health technology provider Alcidion Group has acquired British patient flow management software maker ExtraMed for $9.6 million and also said it plans a capital raise of $17.9 million.

Alcidion, which is listed on the ASX, will become the patient flow leader in the UK with this acquisition, which will bring in an additional nine NHS Trusts, six of which are new to the company. Alcidion will have a presence in 27 NHS Trusts or 19% of the NHS acute care market.

Alcidion will purchase 100% of the shares in ExtraMed, a wholly-owned business unit of bedside communication and entertainment unit provider Hospedia, under the sale contract, with all staff, customers and assets included.

A statement said Alcidion was working with 322 hospitals and 54 healthcare providers across Australia, New Zealand and the UK, at the moment.

The company provides "a clinical decision support platform, Miya Precision, that utilises AI, data, automated workflows and alerts to detect and highlight emerging risks to clinicians (nurses and doctors) in real-time to improve patient care".

ExtraMed is forecast to bring in revenue of $2.7 million in the financial year 2022 based on its existing contracts.

Alcidion Group managing director Kate Quirke said: “This acquisition significantly strengthens our position in the UK and signals our commitment to this very important market. We are delighted to welcome the highly experienced ExtraMed team of 11 staff, as well as new customers, as we continue to transform the delivery of healthcare with smart technology solutions.

“In combining our customer bases and the established solutions of ExtraMed and Patientrack alongside Miya Precision, we are creating a strong competitive advantage and the opportunity for further growth as we look to introduce our Miya product range to these new customers.

"The combination of our technologies, staff and customers establishes Alcidion as the UK market leader for patient flow and as a foundation platform for digital command centres.”

Alcidion UK managing director Lynette Ousby added: “Bringing ExtraMed and its team of experts in patient flow into the Alcidion Group is a fantastic opportunity to further enhance how we work with hospitals across the UK.

"The combination of our capabilities and our expanding partner network opens up exciting possibilities as we continue to grow our offering to help NHS hospitals and integrated care systems that want to advance digital maturity by complementing and orchestrating their existing systems.

“Existing ExtraMed customers will benefit from the knowledge and experience we have in developing and delivering technological systems that improve patient care, while current Alcidion customers may take advantage of the expertise ExtraMed has in patient flow, in ensuring that each patient journey through the hospital from pre-admission to post-discharge is optimised."

ExtraMed managing director Susan Say said: “The Alcidion Group is a perfect home for ExtraMed, as we join a clinically driven organisation with a strong history grounded in patient safety and digital innovation. We look forward to expanding what we can do for our existing customers and other hospitals in the NHS.”

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Sam Varghese

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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