Orion Health inks deal for Singapore interoperability technology
- 18 September, 2017 08:51
Ian McCrae - CEO, Orion Health
New Zealand health software developer Orion Health will deliver its Healthcare Enterprise Service bus interoperability service to Singapore's lead health technology agency in a new five-year deal.
Singapore's Integrated Health Information Systems (IHiS) opted for Orion's integration engine, Rhapsody, to deliver the interoperability services and infrastructure for public hospitals using the National Electronic Health Record of Singapore.
The project will commence immediately, Orion told investors, and contribute to the company's outlook for the 2018 financial year.
NZX- and ASX-listed Orion disappointed investors in April when it announced it was considering raising cash after sales faltered in the second half of 2017. The company said it remained committed to reaching profitability during the 2018 financial year.
Orion's share price plummeted 28c, or 14.5 per cent to trade at $1.65 on the news. Meanwhile, shares were trading at $1.15 today after peaking at over $5 in mid 2016.
In May, after announcing a $33 million loss for the year to the end of March, the company said it would raise $32 million in a rights offer, with CEO and founder Ian McCrae commited to taking $15 million of the new shares with other investors and directors funding the rest.
Orion Health won the Singapore deal following a competitive tender, with the project designed to improve how systems across the health system in Singapore integrate and communicate with each other.
"This strategic win is very important to Orion Health, and are looking forward to seeing hospitals and patients benefit from the efficiencies it will bring," Orion Health executive vice president of Asia Pacific Darren Jones said.