Health-tech company Oneview raises €12.9m via placement

Irish healthcare technology group Oneview, which is listed on the Australian Stock Exchange (ASX), has raised A$20 million (€12.9m) in a placement.

The company, which is headquartered in Dublin, is securing the funding via two tranches, with the smaller A$2.5 million one to be issued subject to security holder approval.

Oneview, which provides digital tools for patients, families and care-givers, was founded by Irish businessman Mark McCloskey in 2007. He remains president of the company, and is its largest individual shareholder.

Under the placement Oneview is issuing 74,074,074 new CHESS depository interests (CDIs) over new fully paid ordinary shares in the company in two tranches. The placement was priced at A$0.27 per new CDI, which represented a 18.2 per cent discount to the closing price of Oneview's CDIs on the ASX on Wednesday last.

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The first tranche is being issued on Friday, with the second tranche being held until the company’s EGM in mid-December.

In addition to the placement, Oneview said it will be undertaking a security purchase plan to provide an opportunity for retail investors to participate in the capital raise.

"This funding round comes at a time of great opportunity in healthcare given the acceleration of digitalisation as a result of the pandemic," said chief executive James Fitter.

“As nurse and other hospital staffing pressures and shortages worsen, we are pleased that our solution can relieve some of their burden by providing digital tools to increase the efficiency and effectiveness of care for both patients and providers.”

Oneview said proceeds from the placement and the security purchase fund will be used to further develop the company’s Cloud Enterprise product, accelerate its growth strategy and strengthen its balance sheet.