2021 Annual Report to Shareholders
A year of growth, backed by new contracts, renewals, and strategic acquisition
Letter from the CHAIR, Rebecca Wilson
Dear Shareholders,
I am pleased to present Alcidion’s Annual Report for the Financial Year ended 30 June 2021 (FY21).
Two years ago, the Board agreed on a three-year growth plan that would move Alcidion from digital health aspirant to a global organisation at the frontier of unlocking and managing data to benefit clinicians and improve healthcare outcomes. Technology has its moment now to transform healthcare by streamlining hospital workflow, optimising legacy systems, reducing human error, and responding to patient desire for out of hospital care.
FY21 HIGHLIGHTS
Alcidion delivered record revenue of $25.9M in FY21
“I am proud of the results we have achieved in FY21. The team at Alcidion is passionate about making a difference in healthcare. We are driven by a desire to support the clinicians to deliver better patient outcomes and to implement new models for healthcare delivery. This team has worked hard during another challenging year, and I want to thank them for their incredible efforts and support.”
— Kate Quirke, Managing Director
- 39%Increase in overall revenue
- 56%increase in recurring revenue
- 25MCash balance at 30 June 2021
- 1.5MNet operating cash outflow
- 24%INCREASE IN STAFF
- 336HOSPITALS USING ALCIDION TECHNOLOGY
Increase in sold revenue quarter on quarter in FY21
Q&a WITH MANAGING DIRECTOR KATE QUIRKE
Managing Director and CEO Kate Quirke reflects on Alcidion’s key growth drivers and challenges in FY21, the Company’s investment in people and what she is most looking forward to in FY22.
FY21 at a glance
Growth backed by new contracts, renewals, and strategic acquisition.
July 2020
- ALC signs contract with Sydney LHD for Miya Precision.
- Murrumbidgee LHD signs contracts for Miya Precision.
- ALC signs new contract extension with ACT Health.
- NHS Lanarkshire to deploy Patientrack across entire board.
August 2020
- ALC appointed to NHS Communications Framework.
November 2020
- ALC signs milestone $9.5M deal with NHS Trust.
- ALC expands partnership with NextGate to UK market.
December 2020
- $2.0M extension to milestone deal with South Tees.
March 2021
- ALC signs Medications Management contract with NZ DHBs.
- East Lancashire Trust to deploy Patientrack and Smartpage.
April 2021
- ALC acquires ExtraMed, completes placement and announces SPP.
May 2021
- Share Purchase Plan closes strongly oversubscribed.
June 2021
- Appointment of Chief Financial Officer and Resignation of Ray Blight as Non-Executive Director.