Sales surge for hospital software group Oneview

Australian-listed Irish group reports strong pipeline for interactive patient care solution

Oneview chief executive James Fitter with founder Mark McCloskey. Photograph: Peter Moloney

Oneview chief executive James Fitter with founder Mark McCloskey. Photograph: Peter Moloney

 

Oneview Healthcare, the Irish hospital software group, has reported strong revenue growth in its first year as a listed company.

Sales have jumped to just over €9 million from €2.3 million in 2015. Recurring revenue – an important metric for the business – was 73 per cent stronger at €1.28 million and, according to the company, “continues to grow”.

At the end of 2016, the Oneview software system was installed in 2,666 hospital beds across 20 separate hospital facilities, with a further 2,515 beds contracted for the product.

In addition, Oneview said, it is in contract negotiations for a further 4,510 beds and working in a tender process on an additional 7,704 beds worldwide.

However, the rapid expansion by the company which is still in the early stages of commercialising its software, saw net losses rise from €9.8 million to just over €16 million.

Accounts filed for the company state that it had cash reserves at end-2016 of €35.1 million.

Headcount more than doubled last year to 151 from 64 at the end of 2015 at the group, which was founded by Irish businessman Mark McCloskey. It said it hopes to bring staff numbers up to 200 by mid-2017.

Oneview is focused on markets in Australia, the United States and the Middle East. In 2016, the bulk of its income came from the Australian market though it has begun to aggressively market its product in the US. The company noted that two major customers accounted to just short of 75 per cent of sales last year.

More recently, it has moved into the “senior living”, or sheltered accommodation market and has announced plans to enter the British market in a collaboration with Oxford University. Its system is also deployed at the Laura Lynn Children’s Hospice in south Dublin.

“ The market for interactive patient care is strong, and the need for a high-quality patient experience has never been more important,” Mr McCloskey said. “Our technology has revolutionised patient care and we are excited to continue to roll out across international markets.”

Oneview became the first Irish company to list in Australia when it floated on St Patrick’s Day last year.