Induction Healthcare deploying platform in south west London

4th Apr 2022 11:59

(Sharecast News) - Virtual care technology provider Induction Healthcare announced on Monday that the South West London (SWL) integrated care system will deploy its 'Zesty' product for their outpatient programme.

The AIM-traded firm described Induction Zesty as a "digital front door" for hospitals, with an interface giving patients access to appointments, correspondence and virtual consultations from their smartphone.

It said patients could access a "joined-up view" of their care journey, spanning multiple care providers through a single digital platform.

Comprising four of the acute NHS Trusts within SWL, the combined contracts had terms between two and nine years, and would result in total revenue of £3.6m with an annual recurring revenue of around £0.65m from the 2023 financial year onwards.

Induction said it expected to recognise about £0.45m of revenue in 2023 as implementation work was completed.

The contracts were partly driven by the firm's strategic collaboration with Cerner Corporation, which created a joint product available as part of a value-added reseller agreement to NHS Trusts that are already Cerner clients, as an extension to their existing contracts.

In June, Induction acquired 'Attend Anywhere', which is SWL's preferred platform for remote video consultations.

The board said the opportunity to combine the complementary capabilities of both platforms would strengthen patient engagement, and underpin its growth strategy for 2023 and beyond.

"This is an exciting first step and strong proof point in our strategy to support regional digital transformation via newly forming Integrated Care Systems," said chief executive officer James Balmain.

"We have a strong pipeline of further Cerner customers who are keen to purchase the joint Induction-Cerner patient portal.

"Equally encouraging is the positive reaction we've seen from customers around the integration of Attend Anywhere into our Induction Zesty product."

At 1111 BST, shares in Induction Healthcare Group were down 0.96% at 40.11p.