Ann: Partnership signed with Healthscope for data and analytics, page-32

In my opinion, the real significance of today's announcement is the fact that it is the first private hospital win in Australia (and with Healthscope as well!).

For all holders, this should be viewed as another important validation to the investment thesis. For a long time, it seems as if we were only capable to win contracts in the public health system but not the private system. The latter system is, in my opinion, more lucrative and has a much shorter approval and procurement process.

Currently, Alcidion is valued at approximately 20-21 times annualised recurring revenues. Not expensive but also not cheap, bearing in mind the tailwinds, structural drivers and increased validation on multiple fronts.

As some posters have alluded to, it all comes down to how ‘forward-looking’ the market is and how it is pricing that growth potential into Alcidion’s validation, bearing in mind the scale of some of the growth opportunities.