ASX Health Stocks: Sub $50m market cap Austco nabs $7.4m contract, biggest in its history

Austco Healthcare’s stock price rose by 30 per cent after it announced its biggest-ever contract. Get the latest ASX health news here.

It's raining cash for Austco Healthcare after it landed a $7.4 million deal. Picture: Getty Images

Digital health company Austco Healthcare (ASX:AHC) surged by as high as 30 per cent on Friday morning after announcing that its subsidiary in Canada has secured a $7.4m contract, the biggest in the company’s history.

Under the deal, Austco will supply its Tacera alarm management and clinical workflow solution for the new 548-bed St Paul’s Hospital in Vancouver.

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This includes more than 1100 full IP patient stations, 1200 clinical workflow terminals, and Webservices interfaces for EMR and RTLS systems integrations set to be installed in the hospital.

These systems will allow critical messages, including medical emergency notifications, to be delivered to application stations installed throughout the facility, ensuring staff are promptly notified and can act quickly.

Two-way audio will connect patients to all healthcare personnel in real-time, improving workflow, driving efficiencies, and reducing risk.

The new hospital, currently under construction and set to open in 2026, will be a landmark healthcare facility in Canada’s western city of Vancouver.

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Austco, a sub-$50 million market capped company says that revenue recognition from the deal was expected to begin in this current financial year.

“We are thrilled to have won the St Paul’s hospital contract, which aligns with our company’s mission and values,” said Austo CEO, Clayton Astles.

“This is the largest contract win in the company’s history and demonstrates our growing sales momentum and the increasing reputation of our flagship product, Tacera, as the most advanced clinical workflow solution available today.”

At 3pm (AEST), AHC was still up more than 21 per cent for the day.

Changes at the top

Next Science (ASX:NXS) has announced the appointment of Harry Thomas Hall IV (commonly known as “I.V.”) as its new CEO, starting on July 10.

Over the course of 28 years in the global medical device industry, I.V. has held diverse general management roles including product development, global strategic marketing, commercial operations, and sales leadership.

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AVITA Medical (ASX:AVH) says new CFODavid O’Toole will start in the position on June 15.

O’Toole has more than 30 years’ experience in global corporate finance, capital markets, and accounting across biotech and life sciences companies. \

AVH says he e has a demonstrated track record of developing and executing successful growth strategies in a number of public companies.

Meanwhile Genetic Signatures (ASX:GSS) has named Karl Pechmann as CFO, COO and company secretary, effective June 26.

Pechmann has extensive experience in ASX-listed companies and multinational organisations, including OncoSil Medical, Kyckr and Immutep.

This content first appeared on stockhead.com.au

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Originally published as ASX Health Stocks: Sub $50m market cap Austco nabs $7.4m contract, biggest in its history