If there was one positive takeaway from the pandemic, it is that public health systems have upgraded their facilities for better use of resources by leveraging technology to provide better patient outcomes. In Singapore, this has been powered by Austco Healthcare (ASX: AHC) which has been awarded a $1.6m contract for its nurse call system at 1,100 beds.
The contract will see Austco manage the maintenance of its Tacera Nurse Call platform at Singapore’s 700-bed Ng Teng Fong General Hospital (NTFGH) and the 400-bed Jurong Community Hospital.
Using the system, patients at both hospitals have access to nurse call functions but the platform is also integrated into mobile devices for remote communications and monitoring for greater efficiency and convenience.
“This five-year maintenance agreement with NTFGH further cements the strategic partnership between our companies and follows the announcement in December 2020 of the $1.3 million refresh of our Tacera Nurse Call system,” said Austco CEO, Clayton Astles.
“The works on the refresh are still underway, somewhat delayed due to COVID-19 restrictions, but are due to be completed later this financial year.”
The 5-year contract which will run through to 2026 continues a strong run of deals for Austco which was recently awarded a separate $3.3m contract to supply the Tacera Nurse Call platform to the 795-bed general and acute care hospital Khoo Teck Puat Hospital, also in Singapore.
For the year ended 30 June 2021, Austco Healthcare generated $31.2m in revenue which was in line with the previous year but net profit after tax improved 36% to $3.4m.
Improvement in margins followed on from Austco’s strategic focus to make long-term R&D investment in nurse call and workflow solutions which have been under the healthcare spotlight in response to the COVID-19 pandemic. In many instances around the world, the pandemic brought to the attention of hospitals their operating weaknesses which can be addressed by better workflow management.
Despite their strong financial performance, Austco flagged supply chain delays and international travel restrictions as an impediment to further global adoption of their Tacera Nurse Call platform.
In the months ahead, Austco has flagged intentions to increase their global sales force while also exploring growth by acquisition in the US and European markets.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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