Oneview Healthcare (ASX:ONE) recently released its Q3 2024 update, showing progress despite ongoing market challenges.
The company specialises in patient engagement technology, offering a suite of digital tools for hospitals and healthcare facilities. Its flagship Care Experience Platform (CXP) is designed to enhance patient care by integrating services like virtual nursing, patient monitoring and interactive in-room solutions.
For the quarter ending 30 September 2024, Oneview reported a net operating cash outflow of €1.3m (A$2.0m), marking a 67% improvement from the same period last year. This reduction was driven by an uptick in customer receipts, which surged by 197% to €3.7m (A$6.0m). Increased sales activity and strategic payment timings contributed to the rise, although higher staff costs due to new projects slightly offset these gains.
A notable development was the extension of Oneview’s Value-Added Reseller Agreement with Baxter International. The agreement, which now extends to June 2027, includes Canada in addition to the US market. This partnership has led to new purchase orders and heightened expectations for product deployments in North America. CEO James Fitter highlighted the significance, stating, “The extension with Baxter provides unparalleled access to North American markets and is a testament to the success we’ve seen so far.”
Innovation remains central to Oneview's strategy, as evidenced by the launch of MyStay Mobile. This cloud-based platform allows patients to access digital services on their own devices, aiming to reduce the dependency on in-room hardware and broaden market reach.
Financially, Oneview maintains a stable position, with a cash balance of €4.7m (A$7.7m). However, construction delays, such as those at Children's Hospital Ireland, have impacted the company's revenue, with project launches now expected in early 2025.
