- Healthcare tech company Pacific Knowledge Systems (PKS) renews key contracts and wins new clients
- The company has seen a near complete contract renewal rate — keeping 99 per cent of its customers
- Notably, this puts PKS ahead of expectations of recurrent revenue exceeding 70 per cent of total operating revenue
- New contracts have been signed with Ramsay hospitals, which includes WA’s Joondalup and Hollywood Private hospitals, as well as Brisbane’s Greenslopes hospital
- On the market this afternoon, PKS is up 6.41 per cent and is trading at 41.5 cents per share
Pacific Knowledge Systems (PKS) has successfully renewed key contracts and won new clients.
As the end of the current financial year is coming to a close, the healthcare technology company has seen a near complete contract renewal rate — keeping 99 per cent of its customers.
Notably, this puts PKS ahead of expectations of recurrent revenue exceeding 70 per cent of total operating revenue.
Major contract renewals for its data products, PICQ and RISQ, include Healthscope, St John of God, Cabrini and more. The company also renewed deals with state health departments, such as NSW, Victoria, South Australia, Northern Territory and Tasmania and a number of major health services in Queensland.
New contracts have been signed with Ramsay hospitals, which includes WA’s Joondalup and Hollywood Private hospitals, as well as Brisbane’s Greenslopes hospital.
“The company’s retention rate underlines the importance of PKS’ services to supporting healthcare clients and confirms how our best-practice data and decision support technologies assist improvement in the quality and efficiency of clinical outcomes,” CEO Tim Kelsey said.
“It is a privilege to serve health services in Australia and around the world as they continue to manage the impact of COVID-19 on their communities.
“The strength of renewals and new business in the final months of this financial year underscores the value that clients put on our data and decision support services.”
On the market this afternoon, PKS is up 6.41 per cent and is trading at 41.5 cents per share at 2:20 pm AEST.