Ann: First two renewals for Silverlink PCS solution signed, page-2

FYI - Further traction, momentum starting to build.

4 April 2022
Australian Securities Exchange
20 Bridge Street
Sydney NSW 2000
First two renewals for Silverlink PCS solution signed
 Renewed contracts with Moorfields Eye Hospital and Liverpool Heart and Chest Hospital for use of
Silverlink Patient Care System (PCS) solution
 Combined total contract value (TCV) of $2.8M over 3 years
 Successful renewal of both customers triggers 50% (£1.5M) of earn-out consideration as part of the
Silverlink acquisition, with remaining 50% payable on select customers signing prior to 31 March 2024
 Further validates Silverlink’s long-standing customer relationships delivering stable recurring revenue
Melbourne, Victoria: Alcidion Group Limited (ASX:ALC) today advises it has signed contract renewal agreements
with two existing customers acquired as part of the Silverlink transaction. Both Moorfields Eye Hospital and
Liverpool Heart and Chest Hospital are long standing users of the Patient Care System (PCS) and have committed
to continue with PCS for a further three years.
The combined value of the renewal agreements will be $2.8M over three years, continuing to build upon
Alcidion’s recurring revenue profile.
Alcidion acquired Silverlink, one of the largest and few remaining independent specialist PAS1
providers servicing
the UK NHS market, in December 2021. The acquisition has been well received by both the healthcare industry
and Alcidion customers and has fulfilled a key aspect of the Company’s Electronic Patient Record
(EPR)/Electronic Medical Record (EMR) strategy. It equips Alcidion with core PAS capability, expanding its overall
product offering and positioning Alcidion to offer a cloud-native, modern and modular EPR to rival major global
vendors.
The signing of these two renewals triggers a payment of £1.5M (~A$2.6M), which is 50% of the earnout figure
agreed during the Silverlink acquisition, to be funded from cash on hand ($18.9M as at 31 December 2021).
Kate Quirke, Group Managing Director of Alcidion, said: “PCS forms a core part of our modular electronic patient
record strategy and we value the knowledge and experience that the PCS customers and staff bring to Alcidion
in this critical area of patient administration. Customers renewing contracts is a sign of commitment and
satisfaction with what Alcidion is providing and we are very much looking forward to working with all the
Silverlink customers as we deliver new, modern, open solutions to the NHS.”
1. PAS = Patient Administration System
ENDS
For further information, please contact:
KERSTIN WAHLQVIST
Alcidion
[email protected]
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About Alcidion
Alcidion Group Limited (Alcidion) has a simple purpose, that is, to transform healthcare with proactive, smart,
intuitive technology solutions that improve the efficiency and quality of patient care in healthcare organisations,
worldwide.
Alcidion offers a complementary set of software products and technical services that create a unique offering in
the global healthcare market. Based on the flagship product, Miya Precision, the solutions aggregate meaningful
information to centralised dashboards, support interoperability, facilitate communication and task management
in clinical and operational settings and deliver Clinical Decision Support at the point of care; all in support of
Alcidion’s mission to improve patient outcomes.
Since listing on the ASX in 2011, Alcidion has acquired multiple healthcare IT companies and expanded its
foothold in the UK, Australia, and New Zealand to now service over 300 hospitals and 60 healthcare
organisations, with further geographical expansion planned.
With over 20 years of healthcare experience, Alcidion brings together the very best in technology and market
knowledge to deliver solutions that make healthcare better for everyone.
www.alcidion.com
© Alcidion Group Limited 2022. Alcidion, Miya Precision, Patientrack and Smartpage are registered trademarks.
All other brands and product names and trademarks are the registered property of their respective companies.