OneView Healthcare expands agreement with Inova Health to service 1900 more hospital beds

Hospital care in the United States is set for greater digitisation with hospital services provided Inova Health expanding their Master Services Agreement with medtech company OneView Healthcare (ASX: ONE). 

Through the increasing transition towards digitisation of hospital services, gone are the nights of having nurses walk in and out of the room frequently throughout the night just to check clipboards.  

The expanded agreement builds on the 15,908 contracted beds under its purview of OneView, and adds 1,900 beds from Inova Health System. The total contracted bed count rises to 17,808, representing a 12% increase.

The contract includes the deployment of the OneView Cloud Hosted Care Experience Platform (CXP) and Digital Door sign at Inova’s Oakville Potomac Yard facility. 

Inova Health System is a nationally recognised healthcare provider in the USA, has earned acclaim for its exceptional quality of care, particularly in heart care services. It  has been praised by the American College of Cardiology and featured prominently in the “Best Hospitals” issue of US News & World Report.

This contract is part of the 4,572 beds identified by OneView Healthcare as being in the late stage of contract negotiations, as detailed in the company’s Annual Report released to the ASX on March 28, 2024.

The terms of the agreement stipulate standard software fee arrangements on a per-bed-per-day basis, with no material conditions required to be satisfied before the customer becomes legally bound to proceed with the contract.

OneView Healthcare’s Care Experience Platform (CXP) is tailored to serve hospitals, healthcare systems, academic medical centres, and paediatric hospitals globally. The platform offers a comprehensive suite of digital tools in a single bedside solution. By connecting patients, families, and care teams with services, education, and information during hospital stays, OneView’s CXP enhances the overall care experience. 

The platform is fully automated, integrated, and personalised, thereby positively impacting safe and timely discharges while streamlining nursing workflows.

As per the Annual Report released last week for the Year ended 31 December 2023 (FY23), OneView reported €9.4 million total revenue which represented a 5% increase on the previous year. Net loss after tax also improved to €8.8 million, up from €10.5 million the previous year.