Azure Healthcare (ASX: AZV) has extended an agreement with a major US healthcare and hospitals company to provide its IP nurse call system and Tacera Pulse software platform for an additional three years.
The agreement was secured via Azure’s US subsidiary Austco Marketing and Services and will build on the previous five-year contract, which has generated A$35 million in revenue since the 2015 financial year.
In FY 2019 alone, the agreement brought in US$5.1 million (A$7.58 million) revenue – up from the initial US$3.2 million in FY 2015.
“With the re-signing of another three-year product and services agreement to such a leading and well-regarded healthcare organisation, it gives me great pleasure to deliver this news to shareholders,” Azure’s US-based chief executive officer Clayton Astles said.
“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 mee the market and we are standing out and building a reputation for our products.”
Mr Astles said he anticipated the global healthcare sector will continue to “grow steadily”.
Tacera IP nurse call system
Under the extended agreement, Azure will continue to provide its Tacera IP nurse call system to 130 healthcare facilities across more than 30 US states.
Although the company in the agreement has not been named, Azure disclosed it was listed on the NYSE with a market cap exceeding US$7 billion and annual revenue of around US$4.6 billion.
Tacera is Azure’s flagship product which is currently supplied to 60 countries and is installed in more than 4,500 healthcare facilities.
The technology enables nurse call alarms to be monitored and collects alarm and response data to measure performance outcomes, which can be aggregated to provide an audit of performance and improve patient satisfaction.
Patients are essentially linked in real-time with healthcare personnel, support systems and internal processes responsible for their care and safety.