Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Allied Healthcare Group new contract win, a portent of further growth  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 07/11/2012

No. of Ratings : 0
Add to Mixx!


 


The contract with Mater Health Service North Queensland is on top of a strong 25% increase in revenue for the September quarter. The contract neatly positions Allied as a leading provider of innovative medical products and technologies, to Australian and New Zealand hospitals and healthcare facilities.
(MENAFN - ProactiveInvestors - Australia) Diversified healthcare company Allied Healthcare Group (ASX: AHZ) has won a five year contract to supply an infusion management platform to a North Queensland hospital.

Sales revenue of up to 2 million is expected across the life of the contract with Mater Health Service North Queensland.

Allied currently generates around 7 million in sales annually from its range of unique cardiology and infusion products.

Allied has the sole license to distribute Swiss-made Arcomed's technology platform in Australia. MHSNQ is the first facility to introduce the infusion platform since it became available in Australia earlier this year.

Allied reported a strong 25% increase in revenue for the September quarter relative to the corresponding quarter, indicating continued strong growth in revenue for its sales and marketing division.

Lee Rodne, Group managing director, Allied Healthcare Group said the contract was the latest in a period of strong sales growth and it validated efforts to bring the technology to Australia.

"This robust and cutting-edge device represents the latest in infusion management technology, which is designed to improve both hospital efficiency and clinical outcomes for patients by using data management to ensure patients receive the correct medication at the correct time.

This five year supply contract also signals a growing recognition of Allied as a leading provider of innovative medical products and technologies, to Australian and New Zealand hospitals and healthcare facilities."


Strong progress

Recently, Allied received early access approval of its lead regenerative tissue product CardioCel via the Authorized Prescriber Scheme in Australia.

Allied anticipates receiving full regulatory approval of CardioCel in at least one jurisdiction in 2013.

Allied's sales and marketing division are also preparing for the launch of its lead regenerative tissue product CardioCel.

The company will leverage off its experience and infrastructure to sell CardioCel into a number of countries, including Australia and New Zealand once it is approved.

Allied anticipates the global launch of CardioCel to significantly increase revenue for the company once approved.

Momentum building

Allied has a specialist sales team that has a presence across all states of Australia and in New Zealand.

It is expecting strong growth from its existing product range.

Under the guidance of managing director Lee Rodne it plans to introduce a string of new technologies that will further expand revenue from the Sales and Marketing Division in coming years, with new products coming to market.

Analysis

Over the past 12 months Allied has continued to grow as an integrated healthcare company.

It has now completed the integration from the merger of Allied Healthcare Group Limited and Allied Healthcare Group Investments Pty Limited.

During the year to June 30, 2012, Allied took a non recurring impairment of goodwill charge of 5.4 million from the merger.

During the period Allied also invested 2.37 million to increase its holding in Coridon.

Coridon is a fascinating company founded by Professor Ian Frazer and developing next generation DNA vaccines. He is well recognised for his groundbreaking research that led to Merck & Co.'s highly successful cervical cancer vaccine, Gardasil.

Coridor's current product development is currently focused on herpes virus vaccines. Coridon is currently in the pre-clinical phase of evaluating a combined prophylactic and therapeutic HSV-2 vaccine with a view to commencing a clinical studies in 2012.

Considerable progress is considerable towards commercialisation of Allied's leading product CardioCel for the repair and treatment of heart defects caused by congenital heart disease in children.

With an initial marketing approval in at least one marketing jurisdiction in the next 12 months there is potentially strong growth ahead with CardioCel.

The Allied share price has picked up since July 2012.

With momentum growing in its sales, the current share price of 0.023 appears to significantly undervalue the company given growth from CardioCel and any breakthrough from Coridon with its herpes virus vaccines.

 






  MENA News Headlines
Apr 24 2014Qatar- HH Sheikha Moza Meets Mayor of Kobe Visits RIKEN Research Institution ,Qatar News Agency
(MENAFN - Qatar News Agency) Kobe April 24 - Her Highness Sheikha Moza bint Nasser Chairperson of Qatar Foundation for Education Science and Community Development (QF) today held a meeting with the ...

Apr 24 2014Qatar- Sidra-BMC Event Boosts Biomedical Research Publishing ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - A symposium organised jointly by Sidra Medical Research Centre and BioMed Central (BMC) mulled trends in research and on open access publishing here ...

Apr 24 2014Australian Federal Parliament Deputy Speaker Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Canberra April 24 - Australian Federal Parliament Deputy Speaker Bruce Scott met here Thursday with HE Qatar's Ambassador to Australia Yousef bin Ali Al ...

Apr 24 20143 GCC countries among top 30 on network readiness index ,MENAFN
(MENAFN) According to an annual global technology survey for network readiness index for 2014, three GCC countries have made it to the top 30 list for the third year in a row, Gulf Daily News ...

Apr 24 2014Morocco Admitted As Observer Member to SICA ,Qatar News Agency
(MENAFN - Qatar News Agency) La Romana Dominican April 24 - Morocco has been admitted as an observer member in the Central American Integration System (SICA) which also includes each of Belize ...

Apr 24 2014UN Chief: All Parties in Syria Blocking Aid ,Qatar News Agency
(MENAFN - Qatar News Agency) w York April 24 - The UN Secretary General Ban Ki-moon has accused all parties in Syria's civil war of "flagrant violations" of international law over the delivery of ...

Apr 24 2014Saudi government to invest in medical project ,MENAFN
(MENAFN) A cooperation agreement between China International Development and Investment Corporation Limited (CIDIC) and Saudi developer Trans Sadara Company has been established to form Lana medical ...

Apr 24 2014UAE- Investcorp continues expansion ,Khaleej Times
(MENAFN - Khaleej Times) Investcorp a global provider and manager of alternative investment products announced that it has opened a new representative office in abu dhabi. the office is situated ...

Apr 24 2014UAE- Al Maabar hands over 60% units at Moroccan project ,Khaleej Times
(MENAFN - Khaleej Times) Abu dhabi-based real estate developer al maabar said that 60 per cent of the residential units of phase one at its moroccan bab al bahr project have been delivered to its ...

Apr 24 2014Qatar- QFC Authority Five-a-Side Football Tournament Kicks Off ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Financial Centre (QFC) Authority's first Five-a-side Football Tournament is displaying dribbling skills of executives from Doha's financial ...

Apr 24 2014UAE- Dh8 billion Emaar bonanza for its shareholders ,Khaleej Times
(MENAFN - Khaleej Times) This includes 15 per cent cash dividend ? equivalent to about dh975 million ? and 10 per cent bonus shares or 650 million shares valued at about dh7. in a step certain ...

Apr 24 2014UAE ranks second in government ICT use index ,Khaleej Times
(MENAFN - Khaleej Times) The report covering 148 countries this year ranks countries in terms of leveraging information and communications technologies to boost national competitiveness. the uae ...

Apr 24 2014BaByliss for Men E877EE837E Trimmers Mens styling comes of age ,MENAFN Press
(MENAFN Press) BaByliss for Men E877E & E837E Trimmers Men's styling comes of age Jeddah- 20/04/2014 BaByliss has for over half a century been the first preference of beauty salons and ...

Apr 24 2014Umrah cancellation rumors scotched ,Arab News
(MENAFN - Arab News) The haj ministry has not received cancellations for umrah reservations in the wake of the coronavirus said abdullah marghalani undersecretary at the haj ministry and general ...

Apr 24 2014Qatar Stock Exchange Down 0.05% ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - The Qatar Exchange ended in the red area when trading closed Thursday at 12954.93 points (0.05%) down 6.63 points from the previous closing of 12961.56 ...

Apr 24 2014Afghan Guard Shoots Dead 3 Foreigners in Hospital ,Qatar News Agency
(MENAFN - Qatar News Agency) Kabul April 24 - Three foreigners including a doctor were shot dead and their colleague wounded when a guard of a private Cure Hospital opened fire on them in the ...

Apr 24 2014Georgian Justice Minister Leaves Doha ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - HE Minister of Justice of Georgia Tia Tsulukiana left Doha on Thursday morning wrapping up a two-day official visit to the country. An agreement on ...

Apr 24 2014Egyptian Premier Off to Chad ,Qatar News Agency
(MENAFN - Qatar News Agency) Cairo April 24 - Egyptian Prime Minister Ibrahim Mehlib left cairo on Thursday for Chad the first leg of a three-day two-state trip that will also take him to Tanzania ...

Apr 24 2014Omani non-oil exports to enter African markets ,MENAFN
(MENAFN) A senior official at the Oman Chamber of Commerce and Industry (OCCI) said that the Sultanate is seeking expansion in new African markets, in a time it is looking forward to reduce its ...

Apr 24 2014Uruguay Public Health Minister Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Montevideo April 24 -Minister of Public Health in Uruguay Maria Susana Mu?iz met here on Thursday with HE qatari ambassador to the republic of Uruguay mohamed hassan ...

more...


 
Live Currency Rates






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help