Oneview Healthcare to raise $21M to back AI developments

Oneview Healthcare (ASX:ONE) has received strong support in oversubscribed commitments for a two-tranche placement to raise approximately $19 million. At the same time, the company has also announced a security purchase plan (SPP) to raise up to approximately $2 million more.

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Proceeds raised under those two will support the company’s pipeline of projects and advance its new AI-powered virtual patient assistant, Ovie.

Oneview CEO, James Fitter, said the company is well funded to make continued improvement of the AI software development life cycle and other automation and AI initiatives to drive business efficiency.

“In an environment where global capital markets remain distinctly risk‐off, affected by geopolitical instability in the Middle East and broader macroeconomic uncertainty, the successful completion… represents a strong endorsement of Oneview’s strategy, execution, and long‐term potential,” Mr Fitter said.

“Health systems continue to face significant structural pressures, including rising patient expectations, acute workforce shortages, and the demands of ageing populations.

“As virtual care adoption accelerates, the need for technology‐enabled efficiency is increasing. Oneview’s platform is becoming progressively more strategic in this context, supporting patient empowerment, reducing clinical burden, and enabling the orchestration of digitally supported models of care.”

The placement comprises two tranches. Tranche 1 will raise $12M and is expected to settle on March 24. Tranche 2 will raise $7M will issue of 36,842,105 new CDIs to the company’s largest shareholder, Manderrah, subject to shareholder approval at an extraordinary general meeting expected to be held in May.

Ovie is an AI software that runs on the devices already in the room and connects to clinical systems to guide patients, handle requests, and show operations what’s happening across the unit. Patients can interact by voice or touch. For those who can’t speak or prefer not to, the same features are available on screen. Ovie supports many languages and works intuitively for elderly patients.

ONE is up +3.66%, to 21.3¢. Mkt cap $96.25M.

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