Ann: Alcidion signs milestone $9.5M deal with NHS Trust, page-11

Hi all,

This morning we announced our largest ever Miya Precision contract – a five-year deal with South Tees Hospitals NHS Foundation Trust in the UK to digitalise its delivery of patient care and medications management. The contract value is $9.47M (£5.15M) over five years, with approximately $5.48M (£2.98M) of this being recognised as revenue in FY2021.

South Tees is the largest hospital trust in Tees Valley in the UK. The contract will see Miya Precision and Better’s OPENeP platform implemented across 1,000 beds and used by approximately 9,000 clinical and operational staff who provide care for more than 1.5 million people in the UK. Importantly, South Tees is the second NHS Trust in the last year to procure a combination of Miya Precision and OPENeP, following Dartford and Gravesham NHS Trust last December.

This contract is significant for several reasons. It is our largest Miya Precision deal to-date, and an important validation that our investments in expanding our sales capabilities and UK presence are taking hold. It is also an indicator that the healthcare environment is stabilising, as providers now have protocols in place to manage COVID-19 cases and are returning focus to digital health investments. Including this contract, our total revenue able to be recognised in FY2021 is $20.2M (vs $18.6M total revenue in FY20), with seven months of the year still remaining.

We appreciate the ongoing support of our shareholders and look forward to sharing further updates moving forward.

View the ASX announcement here.