MKM Health/Patientrack announce UK and ANZ contract wins
- Patientrack signs contract extensions with flagship NHS Trusts in England and Scotland
- MKM Health and NextGate Solutions enter into regional reseller agreement
- MKM Health and Patientrack are both subject to binding acquisition agreements with Alcidion (announced to ASX on 24 April 2018)
Adelaide, South Australia, 16 May 2018 – Patientrack Holdings Limited, currently subject to a binding acquisition agreement with Alcidion Group Limited (ASX: ALC), today announced it has signed contract extensions for the continued and expanded use of its proprietary Patientrack software in four of its flagship National Health Service (NHS) Trusts in England and Scotland.
The Manchester University Hospitals NHS Foundation Trust, Bolton NHS Foundation Trust, George Eliot Hospital NHS Trust and NHS Fife in Scotland have all extended their Patientrack licence and support contracts, for periods of one to three years, representing a combined investment of AU$890,000.
Patientrack is a complete digital and mobile bedside solution, proven to enhance patient safety, and the quality and efficiency of care in one easy-to-use application. It assists hospitals to improve patient care by planning and performing patient observations, assessments and clinical documentation at the bedside, thereby ensuring the early detection of, and timely clinical response to deteriorating patients and those at risk 24×7. Patientrack has a large and long standing customer base with more than 80 hospitals in the UK and public and private hospital and healthcare groups in Australia & NZ.
Manchester University Hospitals NHS Foundation Trust is the largest NHS Trust in England and manages nine hospitals including the UK’s largest children’s hospital. It was the initial pilot site for Patientrack, where a published clinical trial in 2011 proved the benefits of the Patientrack software. This externally validated trial showed significant reductions in length of stay, cardiac arrests and unplanned ICU admissions.
Importantly, the new agreement with Bolton NHS Foundation Trust also represents a contract expansion with Patientrack’s electronic observations and patient assessments to be employed to monitor all patients 24 x 7 following on from the initial “Hospital at Night” deployment of Patientrack. The Royal Bolton Hospital has recently been named Digital Hospital of the Month by the UK Digital Health Age publication for its deployment of Patientrack for recording tasks at night and outside hours, as well as the allocation of these tasks to appropriate doctors.
Donald Kennedy, the Managing Director of Patientrack in the UK, said: “It is really gratifying that we have been able to retain all customers who have chosen to invest in Patientrack over the last eight years. This is a significant show of confidence in the continued benefits that Patientrack is delivering to these sites. We look forward to continuing to partner with these pioneering customers to progressively expand their use of innovative, realistically priced technology solutions to improve patient safety and deliver better and more cost-effective patient outcomes both inside and outside of the hospital.”
Alcidion’s Chairman, Mr Ray Blight added: “These types of contract wins are exactly the reason we have entered into acquisition agreements with Patientrack and its affiliate, MKM Health. We look forward to integrating Patientrack, a world class and successful healthcare IT software solution into our product platform. Additionally, these sales are further evidence of the proven capability of the Patientrack customer base to generate sustained revenue over time and a platform across which new solution capability can be sold.”
Reseller agreement with NextGate
MKM Health Pty Ltd (“MKM Health”) announced today that it has entered into an agreement with NextGate Solutions Inc., a global leader in healthcare enterprise identification, to become an authorised reseller of NextGate’s flagship Enterprise Master Patient Index (EMPI) and Provider & Organisation Registry software in both Australia and New Zealand.
NextGate products enable customers to overcome the challenges of today’s complex healthcare IT environment by linking patient and provider data across multiple disparate systems, sources and locations to establish a centralised record of care and reliable data exchange.
With NextGate’s industry-leading patient ID matching EMPI, health care organisations will be better able to manage their patient populations with a complete and accurate view of clinical data across the care continuum for greater clinical, operational and financial efficiency. To help customers effortlessly manage their physician and provider networks, NextGate’s Provider & Organisation Registry delivers centralised visibility across all systems and sources while preventing the proliferation of local provider registers with incomplete and often outdated provider data.
This partnership with NextGate also establishes MKM Health as a regional provider of implementation and support services to NextGate customers. MKM Health has already entered into a multi-year implementation and support contract with NextGate to support the Department of Health and Human Services (DHHS) deployment of NextGate’s EMPI technology across the Victorian Public Health Sector.
MKM Health’s Chief Executive Officer, Kate Quirke commented: “This exciting agreement with NextGate will allow MKM Health to extend its scope of system integration and data management services offered to the Australian and New Zealand health care sectors. We are pleased to have this opportunity to work more closely with the NextGate team and its market leading software.”
“Our agreement with MKM Health will greatly enhance and widen our market to help the global healthcare sector address their most challenging data sharing and patient identification issues,” said Andy Aroditis, CEO of NextGate. “Accurately and consistently connecting the right data to the right individual is a critical requirement in today’s digitised healthcare environment and we are extremely pleased to expand our relationship with MKM Health to mutually help customers maximise efficiencies, reduce errors and provide the best care possible.”
MKM Health and Patientrack acquisition update
The acquisition of MKM Health and Patientrack is subject to Alcidion shareholder approval for the issue of AU$10 million of upfront consideration shares under Listing Rule 7.1. An Extraordinary General Meeting of Alcidion shareholders will be convened for the purpose of obtaining this approval, with the meeting scheduled to be held on 14 June 2018. Shareholders are encouraged to lodge their proxy forms online at www.investorvote.com.au before 12 June 2018 if they cannot attend the meeting in person.
Completion is expected to occur on 29 June 2018, subject to shareholder approval and other conditions precedent, including receiving all necessary third party approvals and no material adverse change taking place in relation to MKM Health and Patientrack.