The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Orcoda’s (ODA) subsidiary, Orcoda Healthcare Logistics, has signed a $900,000 contract with TransitCare
  • Under the agreement, Orcoda Healthcare will supply its specialised vehicles and drivers to the organisation for 40 months
  • TransitCare, a Queensland-based not-for-profit, organises and runs transit routes for those who have difficulty getting around Brisbane and other areas
  • Orcoda also has a history of working with TransitCare in the past, first providing them with optimisation software in 2018
  • Shares in ODA are trading 10 per cent in the red, at 18 cents per share

Orcoda’s (ODA) subsidiary, Orcoda Healthcare Logistics, has signed a $900,000 contract with long-time partner TransitCare.

Under this latest agreement, Orcoda Healthcare has agreed to supply its specialised vehicles and drivers to the organisation over a period of 40 months.

The supplied drivers and vehicles will help supplement the not-for-profit’s existing services.

TransitCare essentially organises and runs transit routes for those who have difficulty getting around Brisbane and other areas of Queensland.

The contract will earn Orcoda’s subsidiary $900,000 in revenue, though that figure could increase is more vehicles are added to the fleet.

“We are currently bidding on some very large contracts to expand the Transitcare capability throughout Queensland,” TransitCare CEO Terry O’Toole said.

Before today’s contract was announced, Orcoda had already worked with TransitCare in the past — first providing them with optimisation software in 2018.

“Orcoda’s state of the art transport technology platform “OLMS” has facilitated the ability for Transitcare to grow and Orcoda will play a major role in our ongoing business through their provision of vehicles and drivers to our network and through their ongoing support of OLMS,” the CEO explained.

“I look forward to continuing to work with the Orcoda’s innovative team and professional drivers as we win further contracts and grow our service base,” Terry said.

Shares in ODA are trading 10 per cent in the red, at 18 cents per share at 3:21 pm AEDT.

ODA by the numbers
More From The Market Online
Military Drone

Elsight’s Halo shines on take off in the Land of the Rising Sun

Elsight’s Halo (ASX:ELS) has been selected by ACSL, Japan’s largest drone manufacturer, as the Beyond Vision Line Of Sight (BVLOS) Communications platform for

Family tracking app Life360 eyeing a US IPO as profitability approaches

Family tracking app developer Life360 announced on Friday that it is applying for a US IPO…

UNITH’s digital humans expand into Amazon; Facebook

AI-powered 'Digital Human' chatbot developer UNITH has announced its in-house tech can now harmonise with that…

Unith wraps up Q1 with $5M in cash as digital humans evolve

Unith has wrapped up Q1 of 2024 with nearly $5M in cash and opex reduced. But…