Up another 6%, Oneview (ASX:ONE) share price hits 10-bagger status today

Additional contract information sends this healthcare tech company to the moon.

| More on:
four excited doctors with their hands in the air

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Oneview Healthcare PLC (ASX: ONE) share price has surged as high as 52 cents today, the highest point it's been since 2019.

The healthcare software company's shares have pulled back slightly, still up 6.38% trading at 50 cents at the time of writing.

Let's take a look at what's driving the Oneview share price out of the doldrums to new highs in 2021.

Oneview reveals contract details

Last Friday, Oneview revealed it had signed public healthcare provider Northern Health, its first Cloud Start customer in Australia.

Cloud Start is a fully-managed Samsung tablet solution, enabling virtual care, entertainment, up-to-date patient information and other services.

Under the agreement, Cloud Start will be deployed at the Northern Health, Stage 2 Inpatient Unit Expansion Project, enabling patients to communicate with their clinicians in a COVID-19 safe manner.

In today's announcement, Oneview provided the material terms of the contract with Northern Health.

According to the statement, the agreement will include an initial contract for 126 beds with a term of 5 years.

The implementation will include standard software fee arrangements on a per bed per day basis, where no material conditions need to be satisfied before a customer signs up and becomes legally bound to a contract.

Oneview advised that it does not expect the revenue from this deal to be material in 2021.

The Oneview share price hits ten-bagger status

The Oneview share price has taken investors who bought shares in January to the promised land, surging ~1,010% this year from 4.5 cents to 51 cents at the time of writing.

The healthcare technology company first started making moves on 1 February, when it signed a distribution agreement with Samsung. Under the agreement, Samsung would distribute Oneview's Cloud Start product to healthcare-focused enterprise resellers.

The Oneview share price surged from ~115% from 4.5 cents to 9.5 cents on the day.

The second leg up came about on 12 March, after the company signed an investor awareness agreement with S3 Consortium trading, better known as Next Investors. The company's shares surged 100% from 8 cents to 16 cents on the day of the agreement.

Since then, the company has continued to kick goals, including the attainment of ISO 27001 certification award, the launch of its cloud-based care experience platform, CXP Cloud Enterprise and Friday's first Cloud Start customer signing.

Kerry Sun 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.

More on Share Gainers

A young man punches the air in delight as he reacts to great news on his mobile phone.
Share Gainers

Why EOS, Evolution Mining, Renascor, and Woodside shares are jumping today

These shares are ending the week on a high. But why?

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a volatile, but negative day for ASX investors this Thursday.

Read more »

Woman with an amazed expression has her hands and arms out with a laptop in front of her.
Share Gainers

Guess which ASX 200 stock turned $5,000 into $34,264 in just three years!

Investors have been piling into this ASX 200 stock for years, sending the share price soaring.

Read more »

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Share Gainers

Why Beach Energy, Meeka Metals, Monash IVF, and Qantas shares are racing higher today

These shares are having a better day than most on Thursday. But why?

Read more »

Rising gold share price represented by a green arrow on piles of gold block.
Share Gainers

2 ASX All Ords stocks that would already have more than doubled your money this year

These ASX All Ords stocks have gained 126% and 145% year to date. But how?

Read more »

Ten smiling business people wave to the camera after receiving some winning company news.
Share Gainers

Here are the top 10 ASX 200 shares today

It was an historic day for the ASX, with the market setting a new record.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Fletcher Building, Johns Lyng, Pilbara Minerals, and Zip shares are charging higher

These shares are having a strong session on hump day. But why?

Read more »

A cool dude looks back at the camera while ziplining above the treetops.
BNPL shares

Zip share price rockets 19% on full-year earnings upgrade

Surging again today, Zip shares are now up 127% since their recent April lows.

Read more »