I want to add a couple of points from the latest ann which I feel have been missed.
- iCVIS has now been proven to be able to integrate in to Cerner Patient Administration System
- Cerner Patient Administration System (PAS) is the overarching system deployed across the entire spectrum of NSW Health
- This Coffs Harbour Campus is ALC's first success in to the NSW market & it went live on 25-Oct-2016
If you all recall - ALC had a 1:1 with the NSW Health Minister on 4-Aug (Announced 2-Aug). So it took less than 3 months to deploy one aspect of our tech in to this new market after demonstrating an obviously compelling business case to the NSW health minister...
Further - given this iCVIS deployment is within the JV with FUJIFILM (which btw is a Japanese Giant Corporation listed on their markets) I would be inclined to believe there is a firm confidentiality agreement between the 2 JV partners as this is common practise. Now for those who don't know, a confidentiality agreement trumps the ASXs continuous disclosure rules.
In my experience, with these agreements, both parities need to agree to release information regarding any activity within the JV. So they would have had to sign-off on the information contained in the media release. Given the amount of back & forth that transpires, I dare say that this is why we only just found about the new contract.
This in itself is interesting as it took 2 months to come to market with this contract, which begs the question... how many more contracts have been agreed upon & the JV partners are 'drafting' the release?
Circling back to the successful integration with Cerner Patient Administration System for a second... this is the PAS deployed across the entire NSW spectrum & our tech has been successfully integrated. So the next hospital in NSW will not face the possibility of integration risk as it is no longer there. Thereby, it reduces a possible barrier to entry for ALC in to the rest of NSW Health.
So what does this all mean...?
- We have a multi-billion dollar JV partner with a market leading platform (Synapse CV) which has just successfully presented a JV solution - ALC's solution (iCVIS) - and integrated it in to Cerner Patient Administration System.
There is no wonder Ray is as excited as he is in the ann where is says "We have now reached a level of maturity that will allow for a rapid rollout of the iCVIS to the broader market"
Oh & this is only 1 product that ALC has on the go... It's only one commercialisation channel for which there are many...
This won't be sub-100m mkt cap for long.
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