Australian healthtech company Azure Healthcare (ASX: AZV) is set to further stamp their footprint on the United States healthcare system with a 3-year extension of their supply agreement for the Company’s nurse call systems which service more than 30 states.
The Tacera Pulse system is used to monitor nurse call alarms, collect alarm and response data as well as measure performance outcomes to audit patient outcomes with this new 3-year extension following on from a successful 5-year provision signed by one of the largest U.S. healthcare providers in 2013.
“With the re-signing of another 3-year Product and Services agreement to such a leading and well-regarded healthcare organization, it gives me great pleasure to deliver this news to shareholders,” said Azure CEO, Clayton Astles.
“That we have been able to secure such a relationship with one of the largest US healthcare providers, validates our strategic plan and product development roadmap. Our products continue to evolve to meet the market and we are standing out and building a reputation for our products.
“The global healthcare industry will continue to grow steadily, and I look forward to bringing further confirmation to our shareholders that our growth strategy is rolling out successfully in 2020.”
Azure’s unnamed client is a NYSE listed company which reported more than US $7 billion in revenue for 2019 and will continue operating the Tacera IP nurse call system to approximately 130 healthcare facilities across more than 30 states
Beyond this major client in the United States, Azure supplies its call systems to more than 4,500 healthcare facilities through its global reseller network and is the largest manufacturer of call systems in the southern hemisphere.
Following news of the 3-year extension, shares in AZV rose to a high of $0.115 in morning trade, a rise of 22% on the previous day’s close of $0.09.
The agreement also continues a strong run for Azure which last month reported a higher earnings forecast than expected driven by uptake in its call systems as a result of the US-China tariff regime.
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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