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Oneview (ASX:ONE) share price jumps 15% today. Here’s why

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The Oneview Healthcare PLC (ASX: ONE) share price has continued to surge today, more than a week after announcing its world-first cloud-computing healthcare software.

At the close of trade today, the Oneview share price is up 15.2% at 42 cents per share.

Oneview provides patient engagement and clinical workflow technology solutions to healthcare facilities and had a major windfall when it launched its Cloud Care Experience Platform, a platform that allows health systems to quickly adopt technology for engaging patients.

The company provides various inpatient, outpatient and clinical pathway solutions. It generates its revenue in the form of software usage and content revenue, support services, and license fees.

Geographically, Oneview operates in Ireland, the United States, Australia, and the Middle East and North Africa. It generates the majority of its revenue from the USA.

Why is Oneview’s Cloud Care Experience Platform useful?

Oneview says that implementing a cloud-based platform for managing patients reduces non-clinical demands on care teams and optimises clinical and operational effectiveness.

The fact that Oneview’s platform has had strong support from Microsoft and runs on its platform, Azure, has proven to be a key breakthrough for the company in ensuring an easy rollout into hospitals.

The strong investor response to Oneview’s share price has also been due to the product’s world-first nature and its release during a time of increased stress on public and private healthcare systems.

Developed with a medical centre

The CXP Cloud Enterprise platform was developed in partnership with NYU Langone Health, a leading academic medical centre in New York, which rapidly rolled out the virtual engagement platform across its facilities during the coronavirus pandemic.

NYU Langone CIO Nader Mherabi said it had arrived at a pivotal time for the healthcare industry.

COVID-19 strained resources and challenged most hospitals to examine how virtual pathways can enhance patient care.

Oneview helped us build an in-patient virtual care platform, which has been instrumental during the pandemic and will continue to be key as we deliver a new level of patient engagement.

Oneview share price snapshot

The Oneview share price has been in the red for 9 of the past 14 days, but today has seen a rapid increase in investment. On the days that the share price has jumped, it’s often increased by between 15 and 30%, while declines have been far more moderate.

The Oneview share price is up more than 480% this month and 875% over the past 12 months. 

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Motley Fool contributor Lucas Radbourne-Pugh 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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