2019 Annual Report to Shareholders

A year of transformation

Letter from Rebecca Wilson, Chair

Dear fellow shareholders, 

I am pleased to present Alcidion’s Annual Report for the financial year ended 30 June 2019. 

FY2019 was a defining year for Alcidion: The acquisitions of Patientrack and MKM Health have been central to this shift, and it has been a year in which we have built the foundations for further growth. We indicated at the time that these acquisitions were transformative and we are proud that we have been able to deliver on this promise. 

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“In a year when significant time and focus was required to integrate the acquired businesses, the expanded management team has still been able to grow the business in all of our markets.”

– Kate Quirke, Managing Director

  • 300%
    Increase in statutory revenue
  • 33%
    Increase in combined FY2018 proforma revenue
  • 2.0M
    Positive operational cashflow
  • 98%
    Ebitda improvement (year on year)
  • 39K
    Ebitda loss
  • 2
    Contracts signed for integrated full product suite

FY2019 at a glance

Following two transformative acquisitions completed in July 2018, the combined Alcidion has continued to deliver strong commercial and operational results across its expanded markets of Australia, United Kingdom and New Zealand. In its first combined year, Alcidion increased investment in integration of the businesses and capabilities, whilst also delivering strategically significant contracts and financial growth. Today, Alcidion enters FY2020 having achieved positive net cash flow and with earnings approaching breakeven.

July 2018

Alcidion completes acquisitions of MKM Health and Patientrack

MKM Health CEO Kate Quirke appointed Alcidion CEO.

First integrated Miya, Patientrack, Smartpage solution signed in Australia

Five-year contract worth $4.75 million, including first Miya, Patientrack, Smartpage installation and electronic journey board solution.

October 2018

First quarter of positive operating cash flow announced

Q1 FY2019 showed a $221K net positive operational cash flow. Transition to positive cash flow commences.

February 2019

Miya Precision launches for the first time

Solution live in 19 wards at two MidCentral District Health Board sites.

March 2019

First integrated Miya, Patientrack, Smartpage solution signed in the UK

~$2 million deal over five-years with Dartford & Gravesham NHS Trust.

August 2019

Smartpage, Patientrack and MKM Health unite under new Alcidion brand

New brand identity launched, completing the integration of businesses and capabilities

FY2019 unaudited full year results announced

First operational cash flow positive year ($2M), $16.9M revenue, EBITDA loss of $39K; earnings close to breakeven

Rebecca Wilson appointed Alcidion Chair

Rebecca’s leadership and strategic expertise position Alcidion for the next stage of growth.

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