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.
FY2019 HIGHLIGHTS
ALCIDION DELIVERED $16.9M REVENUE IN FY2019
“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
- 2.0MPositive operational cashflow
- 98%Ebitda improvement (year on year)
- 39KEbitda loss
- 2Contracts 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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