Healthcare

Global Health shares jump on regional VIC software contract

Mon 18 Jul 22, 1:52pm (AEST)
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Key Points

  • Global Health’s software to be taken on board by VIC Yarram district health service in Gippsland
  • “MasterCare” product the leading element of the 4-year $200,000 contract; bringing total customers up to 7
  • Global’s share price up 5% to 31.5c

Global Health Limited (ASX:GLH) has won a four year contract with Gippsland’s Yarram health service to provide the latter with its MasterCare product. 

The four year contract is valued at $200,000 (read: $50,000 a year in revenue). 

The Yarram health service is the seventh community health service entity to purchase MasterCare from Global Health on a software-as-a-service (SaaS) basis. 

Global’s share price has climbed 5% to 31.5c in early afternoon trade. 

Company management optimistic 

Global Health CEO Michael Davies says the move demonstrates Global’s ongoing acumen in developing its sales pipeline across Australia. 

“We’re delighted to provide solutions to improve community and mental health services and hospital care in regional Victoria,” Davies said. 

The Yarram district covers a significant portion of the Gippsland area; which has been targeted specifically by Global Health as it seeks to expand its presence through regional Victoria. 

Worth noting is Global’s penetration of the governance procurement market. 

The company provides the WA Mental Health Commission with its software solutions. 

How is Global Health doing? 

Global has not been spared from the sell-off season, with year to date performance down -10%.

One year returns for investors are worse off, at -37.6%. 

However, one month returns reflect 21.15%. 

The company has a market cap of $17.8m and is ranked 158 or 210 ASX-listed healthcare entities. 

Mind the gaps: Global's three month charts compared to the healthcare index
Mind the gaps: Global's three month charts compared to the healthcare index

 

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Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication. Email Jon at [email protected].

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