North America continues to be Orion Health’s largest region, with revenue of $125m, an increase of 32% on the previous year. Strong growth in Canada was driven by the deployment of the first electronic patient care plan in its largest region Ontario.
In the U.S. performance was mixed, however the year ended with the signing of two substantial agreements – a contract with Horizon Healthcare Services, Inc, a large insurer based in New Jersey with over 3.8 million members and the partnership with leading healthcare software vendor Cognizant. Cognizant have just secured the first sale under this partnership to a healthcare insurer with over 3 million members.
In APAC, revenue declined from $38m in FY2015 to $32m in FY2016. The primary reason for this was the sale of one-off perpetual licenses in New Zealand in 2015, which carried limited revenue forward into FY2016. After a period of consolidation in Australia, the company secured two exciting new contracts in Queensland, and revenue increased in Asia with successful deployments in Vietnam and a strategic new contract in Malaysia.
Mr McCrae says in the coming year revenue increases will be driven by global expansion, the shift to SaaS-based deployments, strategic partnerships and providing greater value for new and existing customers as they transition to the new cloud technology platform.
“Our software now manages over 100 million patient health records globally. This puts Orion Health in a powerful position as the health sector experiences major disruption through new technology and as patient records begin to move to the cloud,” Mr McCrae says.
“We are excited about our vision for delivering to our customers both today and in the future when precision medicine is enabling the perfect care for every health consumer.
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