Alcidion Healthcare Technology (ASX:ACL)

Alcidion (ASX:ALC) Acquires ExtraMed and $17.9m Capital Raise

Henslow is pleased to have acted as Corporate Advisor to Alcidion (ASX:ALC) on the acquisition of ExtraMed Ltd, a UK provider of patient flow management software that helps address key pain-points for hospital administrative staff. Concurrent with the acquisition, Henslow acted as Lead Manager to raise $17.9m, with funds being used to restore cash reserves following the purchase of ExtraMed and ensure Alcidion has sufficient investment funds and working capital to continue its growth strategy. Alcidion have delivered strong organic growth in FY21 (with sold revenue up 33% as of Q3), with the acquisition of acquisition of ExtraMed only further accelerate this growth profile. The acquisition will add nine NHS Trusts (6 being new to Alcidion), expanding their NHS presence to 27 Trusts or ~19% of target Acute NHS market, with upside revenue potential on cross sell opportunities for Miya (their flagship product).

Unlocking new innovation and insights in the healthcare industry.

Alcidion is transforming healthcare with smart, intuitive technology solutions that provide real-time clinical decision support. It integrates with EMR providers and assists doctors and nurses, covering functions such as; streamlining patient journeys, smart analytics to help with clinical decisions, improving patient safety, improving productivity amongst clinical staff through messaging applications, and data capture and interpretation.

The Highlights

  • ExtraMed

    Acquisition

  • $17.9m

    Recently Raised (April 2021)

  • $47.5m

    Total Transaction Value

Funds used to boost growth strategy through investment in sales, marketing and clinical support resources

The successful transactions (both the acquisition and capital raise) provide a further example of Henslow’s ability to partner with exciting growth companies and provide combined and complementary M&A and equity markets services. Having worked with Alcidion since 2018, we look forward to building upon our relationship as they continue their progression of becoming a leading global healthcare organisation.

Timeline


November 2018

Block Trade - $4.0m

November 2019

Placement - $16.2m

April 2021

Placement - $17.9m

April 2021

Acquisition of ExtraMed - $9.4m

“Alcidion is well-placed to scale up and pursue a significant global market opportunity. The adoption of technology in healthcare is accelerating, driven by access to digital patient data, increasing demands on healthcare and a shifting regulatory environment.”

Kate Quirke, Managing Director of Alcidion