Why the Oneview (ASX:ONE) share price is rocketing 29% today

The Oneview Healthcare PLC (ASX: ONE) share price is rocketing 29% today after announcing the launch of its cloud-based platform.

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Oneview Healthcare PLC (ASX: ONE) shares are among the best performers on the ASX today. The healthcare software company’s shares have rocketed to 37 cents, up 25.9% underpinned by the launch of its cloud-based platform. This brings the Oneview share price within sights of its multi-year high of 48.5 cents.

CXP Cloud Enterprise launch

Consequently, investors are driving Oneview shares higher after the company’s latest update.

According to its release, Oneview advised that it has launched the world’s first cloud-based care experience platform, CXP Cloud Enterprise.

Available on Microsoft Azure, the CXP Cloud Enterprise platform offers in-patient care services across health systems such as hospitals. This also includes patient education, meal ordering, patient service requests, apps and digital services, virtual rounding, visitation, and translation services.

Furthermore, Oneview highlighted that its newest platform seeks to reduce non-clinical demands on care teams. This is particularly important given the current digital needs for patients during the pandemic.

The platform was developed in partnership with New York leading academic medical centre, NYU Langone Health. Both parties collaborated on an initial cloud-based version. This partnership saw NYU Langone rollout key capabilities of the platform to over 400 beds in a few weeks. Additionally, this was used to respond to the strain put on healthcare systems, freeing up care teams for other duties.

Today, however, the launch of the CXP Cloud Enterprise platform delivers a full suite of options for patients.

Management commentary

Oneview CEO James Fitter commented:

The cloud-based platform is a key pillar of our growth strategy.

Being the first and only cloud-based care experience solution gives us a strong competitive advantage and means health systems can rapidly implement the capabilities that meet their needs today while providing the agility, scalability and investment protection to grow as their health system changes.

We are excited to know that CXP Cloud Enterprise will help transform the hospital experience for patients, families and care teams.

Microsoft Australia healthcare industry executive Dr. Simon Kos added:

The cloud enablement of Oneview’s patient experience platform is a game changer.

It means that health organisations can deploy more quickly, with greater predictability and less specialised resources, all on the trusted Azure cloud. This is a win for patients, clinicians and healthcare organisations that put patient experience and outcomes first.

Oneview share price review

Over the past 12 months, the Oneview share price has increased by over 900%. In particular, this is mostly attributed to year-to-date gains.

Based on the current share price, Oneview presides a market capitalisation of around $141.2 million, with 397.7 million shares outstanding.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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