2020 Annual Report to Shareholders
A year of growth, integration and investment
Letter from Rebecca Wilson, Chair
Dear Shareholders,
I am pleased to present Alcidion’s Annual Report for the Financial Year ended 30 June 2020 (FY2020).
Against the backdrop of a global pandemic, Alcidion has demonstrated that it is a resilient business, and its technology plays a vital role in helping healthcare providers better manage risk, use resources effectively and drive better patient outcomes.
FY2020 HIGHLIGHTS
Alcidion delivered $18.6M revenue in FY2020
“I am very proud of the manner in which Alcidion has come together as one cohesive company, unifying our operations across three markets. The combination of our strong product offerings and the technical, commercial and implementation skills of the team have enabled us to create a highly differentiated offering in digital health.”
– Kate Quirke, Managing Director
- 10%Increase in overall revenue
- 35%increase in recurring revenue
- 3.8MEBITDA loss, reflecting growth investments
- 15.9MCash balance at 30 June
- 2MNet operating cash outflow
- 307Hospitals using Alcidion solutions
Significant increase in recurring revenue to $10.5M
A Q&a WITH KATE QUIRKE, MANAGING DIRECTOR
In this Q&A, Managing Director and CEO Kate Quirke reflects on the achievements she is most proud of in FY2020, the significant opportunity ahead for Alcidion in a rapidly growing market, and what she is looking forward to in FY2021.
FY2020 at a glance
“The combination of our strong product offerings and the technical, commercial and implementation skills of the team have enabled us to create a highly differentiated offering in digital health.
Building on this solid foundation, we have commenced implementing our growth strategy, investing in scaling up the business so we can capitalise on the escalating opportunities in digital-enabled healthcare.”
– Kate Quirke, Managing Director
July 2019
Appointed preferred provider with Dartford and Gravesham NHS Trust for medications management
August 2019
Alcidion, MKM Health, Patientrack and Oncall Systems are united under one cohesive Alcidion brand
September 2019
Three-year agreement signed with Healthscope to support its data and analytics strategy
November 2019
$16.2M successfully raised to accelerate our growth strategy and drive adoption across the UK, Australia and New Zealand
December 2019
Three-year Patientrack contract signed with Taunton and Somerset NHS Foundation Trust
Lynette Ousby appointed GM in the UK as investment in driving growth in UK market commences
March 2020
Alcidion showcases Miya Precision in the UK at the Digital Health Rewired Conference
Alcidion rolls out COVID-19 monitoring and assessment solutions to support healthcare providers manage cases
April 2020
Renewal signed with NHS Fife to extend Patientrack across the entire Board for five years.
Murrumbidgee LHD elects to continue using Miya Precision for an initial 12-month period. Longer term opportunity to expand use of Miya Precision
June 2020
Sydney LHD signs a 12-month contract for Miya Precision to support virtual care for COVID-19 patients at rpavirtual