17 Jun Global Health Business Update June 2020
Business Update
Whilst the impact of COVID-19 has been unprecedented in terms of its economic and social impact in Australia, and indeed throughout the world, Global Health has successfully adjusted and navigated through these changed conditions.
We have seen a rapid increase in demand since COVID-19 broke out, and in commenting on the increase in demand, Mathew Cherian, CEO of Global Health, said:
“We have just been amazed at how digitisation in the healthcare sector is now top of mind. Demand and interest have never been higher.
“We thought the disruption in health — more telehealth, digital engagement and collaboration between providers and consumers – would occur progressively over a five to seven-year timeframe, but it’s looking like five to seven months now.
“It’s a big positive that COVID has forced us to rapidly change a system that’s traditionally been slow to change. Healthcare is information intensive and needs to be very defensive because incomplete information has often led to poor decisions which can have a devastating impact on people’s lives.
“COVID has accelerated the pace of disruption in health and companies like Global Health are experiencing strong demand as a result.”
Our sales pipeline is strong with several significant active opportunities expected in the first half or 2020-2021. Subject to audit, the expected FY20 Financial Highlights are:
- Revenue up 15%
- Positive EBITDA
- Borrowings reduced by 45% to $600K
- New Contracts for FY21 delivery up 50% on prior period
To read more of Global Health Update, see the ASX announcement: ASX website here
Or download the Global Health Business Update here: 2020-06 Global Health Business Update