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Why this small cap ASX tech share jumped 5% higher today

James Mickleboro
Health technology shares

The Alcidion Group Ltd (ASX: ALC) share price is on course to end the week on a positive note.

In morning trade the healthcare technology company’s shares are up 5% to 19.5 cents.

Why is the Alcidion share price pushing higher?

This morning Alcidion announced that it has signed an agreement with Dartford and Gravesham NHS Trust to implement the OPENeP Electronic Prescribing and Medications Administration (ePMA) system produced by Better. This follows Alcidion’s award as preferred provider by the Trust.

According to the release, the total value of the contract is £1.02 million (~A$1.9 million) and will be recognised over a period of six years.

What is OPENeP?

OPENeP is a comprehensive electronic prescribing and medication management system, constantly improved in collaboration with pharmacists, doctors, and nurses.

The system has been designed as a stand-alone solution, with easy integration options to connect to the existing EHR system, and medication related decision support systems.

Alcidion was appointed as a reseller and implementer of the OPENeP solution in April 2019 for the UK, Australia, and New Zealand health sectors.

This agreement represents Alcidion’s first implementation of OPENeP. It also extends Alcidion’s existing relationship with Dartford and Gravesham, where a contract was signed earlier in 2019 for the first implementation of Alcidion’s full product suite in the UK.

The Patientrack solution was implemented earlier this year, and planning is currently underway to implement the Miya Precision and Smartpage solutions.

Alcidion’s Managing Director, Kate Quirke, commented: “After receiving preferred provider status in July, we are delighted to extend our existing relationship with the Dartford and Gravesham NHS Trust. Our approach to improving healthcare delivery is closely aligned with the goals of the Trust and we are excited to demonstrate the effectiveness of the consolidated solution.”

Roko Malkoč, OPENeP’s Business Unit Manager, added: “Patients should be the focus, and it is in their interest to always get accurate treatment of the highest quality. By collaborating with Alcidion at Dartford and Gravesham NHS Trust, we aim to create an environment which maximises patient safety, improves collaboration among staff, and prevents unnecessary errors. All this will lead to better patient outcomes.”

The post Why this small cap ASX tech share jumped 5% higher today appeared first on Motley Fool Australia.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Alcidion Group Ltd. The Motley Fool Australia has recommended Alcidion Group Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019