Why the Oneview (ASX:ONE) share price is climbing today

Oneview shares are continuing their impressive gains for the year…

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The Oneview Healthcare PLC (ASX: ONE) share price is firmly in positive territory today.

This follows the healthcare technology solutions company’s announcement of a new contract.

At the time of writing, Oneview shares are up 4.82% to 43.5 cents.

Let’s take a closer look at what Oneview released to the ASX this morning.

What did Oneview announce?

Investors are snapping up Oneview shares after the company added its first Cloud Start customer in Australia.

In today’s statement, Oneview advised it has signed a key provider of public healthcare in Melbourne’s northern region, Northern Health.

Established in 2000, Northern Health is the major provider of acute, maternity, sub-acute and specialist services in Melbourne’s outer northern suburbs. The group comprises four main campuses which are Northern Hospital Epping, Broadmeadows Hospital, Bundoora Centre, and the Craigieburn Centre.

The emergency department treats over 107,000 patients, with over 94,000 patients admitted to hospital each year.

Under the agreement, Oneview’s Cloud Start product will be deployed to the Northern Hospital Stage 2 Inpatient Unit Expansion Project. The $162.3 million facility will enable patients to communicate with their clinicians through a digital platform. In turn, users can also connect with family and friends, view entertainment streaming services, and engage in patient education.

The project is expected to go live sometime in the third quarter of 2021. No financial details were given in relation to the revenue generation of the contract.

Oneview share price summary

Founded in 2007, Oneview is an Irish software company that provides interactive healthcare technologies for patients, families and caregivers. The business operates in the United States, Australia, and the Middle East.

Over the last 12 months, Oneview shares have recorded stellar gains, up more than 1,100%. When looking at this year alone, the company’s share price is equally impressive, jumping over 860%.

Based on valuation grounds, Oneview presides a market capitalisation of roughly $188 million, with approximately 432 million shares on issue.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. 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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