Dear fellow shareholders,
I’d like to firstly welcome you on board as an Alcidion Group shareholder, and also thank our existing shareholders for your continued support of the Alcidion business.
As our shareholders are aware, Alcidion completed the transformative acquisitions of MKM Health and Patientrack in July 2018, following the acquisition of the Oncall Systems in FY18. Over the H1 FY2019 period, all three entities have been skilfully and successfully integrated into the previous business. As a result, Alcidion Group now has a stronger market and financial profile with a growing pool of contracted revenue, a broader technology portfolio, an enhanced customer base, broader service offerings and greatly improved sales capability.
In line with the Company embarking on this next stage of growth, we also recently announced a number of important changes to the Board and Management team. I have transitioned to the role of Non-Executive Chairman and Ms Kate Quirke has been appointed Alcidion’s Group Managing Director. Kate was appointed Chief Executive Officer as well as an Executive Director to the Alcidion Board in July 2018 and in this time has shown herself to be a very impressive leader, driving the integration of the businesses, establishing a pipeline of contracted revenue and building relationships with current and new customers. I am confident that Kate will continue to lead Alcidion on a positive growth trajectory.
Our first half financial performance confirms that the acquisition of MKM Health and Patientrack as well as our strengthened management team is delivering results. In-depth training of the sales and marketing teams, and a focus on cross-selling opportunities across our larger international customer base has already occurred, with several important contract wins announced over H1 FY2019. From a financial perspective, our success is also evident through the significant growth in reported revenues and operating cash flows.
Technological evolution will always remain at the forefront of what we do. Our enhanced suite of products, and next generation technology represents a leading offering in the healthcare analytics market. The growing trend of employing artificial intelligence (AI) on top of “big data” in the healthcare sector continues to offer Alcidion significant opportunity to capture efficiencies and value for our customers as well as our shareholders.
As a co-founder of Alcidion I am very pleased we have successfully executed on our strategy of growth by acquisition and have now significantly enhanced the foundations of our business. The smooth and successful acquisition and management transitions give me high confidence in Alcidion Group capturing the growth opportunities that lie ahead.
Thank-you for your ongoing support. We look forward to continuing to share our future progress with you.
Mr Raymond Blight
B Tech, B Ec, MBM, FIE (Aust), FAICD