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Orion Health shares jump 6.4% on US health insurer deal

Wednesday 30th March 2016 1 Comment

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Orion Health Group shares jumped 6.4 percent after the Auckland-based medical software provider said it's signed a deal with a major healthcare insurer in the United States which will see its Amadeus platform rolled out for use with its 3 million strong membership base. 

The agreement will allow the insurers' partners access patient information from across all the departments at which they've been examined instantly. The shares rose 20 cents to $3.32, leading the S&P/NZX 50 index higher. Despite that gain, Orion's shares have fallen 33 percent from a year ago.

Orion Health chief executive Ian McCrae said the deal would benefit both the insurers' members as well as lowering costs. 

“This is an extremely progressive health insurer that understands the need to work closely with its provider partners to build a comprehensive, longitudinal patient record that will improve the quality of care to its members, as well as lower costs," he said. 

The company currently manages more than 90 million patient records around the world. 

In February, Orion announced an agreement with the US IT health company, Cognizant Group, allowing Cognizant to use the Amadeus platform.   


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Comments from our readers

On 31 March 2016 at 2:06 pm Steve Lockwood said:
This company is a very interesting listing on NZ exchange. Wish it a prosperous future. Have a financial interest I declare.
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