The Alcidion Group Ltd (ASX: ALC) share price is having quite the month, up 32.25% so far in April. Shares in the company have risen off the back of a number of positive catalysts.
The Alcidion share price is showing no signs of slowing down. At yesterday's close, the company's shares were up another 10.96% to a price of 41 cents.
On this note, shares in Alcidion were brought to a halt on April 14, regarding news about a potential acquisition and capital raise. Just 24 hours later, all was revealed and the company released a number of announcements.
ExtraMed Acquisition
Firstly, there was the news that Alcidion would be acquiring ExtraMed, a UK national health service (NHS) software provider.
Post-purchase, Alcidion expects to be the leader in the UK digital market. Having a 19% market share in the NHS system. Moreover, the acquisition is expected to add $2.7 million in revenue from FY22.
Capital Raise
Secondly, the company announced a $17.9 million capital raise. This was made up of an institutional placement and a share purchase plan (SPP). Both shareholders and institutional investors will be able to purchase additional shares at 32 cents.
Defence contract
Next was the news that Alcidion had been selected as the preferred provider for a $21 million Department of Defence contract. The five and a half year, $21 million contracts are still subject to final negotiations and funding approvals. The contract involves major healthcare IT project to capture data and support clinical decision-making across the Australian Defence Force.
Updated Results
Finally, the company released an investor presentation regarding quarter three and its acquisition. Alcidion outlined its $24.7 million of revenue for the financial year thus far. With $3 million being earned in the most recent quarter.
Nonetheless, it is worth noting that the company's full quarterly report is due on Wednesday.
About the Alcidion share price
With four trading days left this month, it's anyone's guess where the Alcidion share price will be come close on Friday.
However, Alcidion shareholders certainly won't be disappointed with the company's stellar 135% return since this point last year.
