Beamtree score $3.6M contract to expand hospital technology into Saudi Arabia

Beamtree Holdings Ltd (ASX:BMT) – an Australian company producing artificial intelligence technology for decision support and data gathering in medical settings – has won a $3.6 million contract to work with Middle East healthcare giant Dr Sulaiman Al Habib Medical Service Group (HMG) in Saudi Arabia.

The focus of the contract will be Beamtree’s data-gathering technology, which will be used by HMG hospitals over the next 18 months to help plan and decide the Group’s future human workforce, as well as its technology resourcing requirements in hospital coding activities.

Central to this will be use of the company’s assisted coding audit quality assurance technology, PICQ®, and Beamtree’s proprietary RippleDown® technology, which will enable assessment of opportunities for automation of clinical coding itself.

Introduction of the PICQ® product and associated coding technologies to the Saudi medical system is a win for Beamtree, which has already introduced the system to Australia, New Zealand and the Republic of Ireland, with plans to expand it into the United Kingdom and Canada.

CEO Tim Kelsey said the contract was a step in the right direction for exposure of the technology.

“This is an important milestone for Beamtree as we expand our work in the Kingdom to the private sector,” he said.

“It is a great privilege to work with such an innovative hospital group, and we are proud to bring Beamtree’s field-leading technology and expertise to HMG,” he said.

“Our proven expertise in clinical record classification and audit together with our PICQ® and automated coding software, assist health services in improving the quality, reliability and use of data to create a learning health system and deliver better outcomes for patients.”

Beamtree’s share price rose 6.67 percent (since market open) on the news, sitting at 1.4 cents at 13:55 AEST.