Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Orion shares jump 9% on US defence deal

Orion shares jump 9% after Leidos syndicate wins US defence contract

By Jonathan Underhill

Oct. 6 (BusinessDesk) - Orion Health shares jumped 9 percent after the listed healthcare system software developer said it was part of a group that won a US Department of Defense contract to help modernise the department's healthcare data system.

Orion said it is the "integration and interoperability partner" of the Leidos syndicate that will provide off-the-shelf electronic health record software for the department and deploy it across the military health system. The contract is part of "Defense Healthcare Management System Modernization", a project to update the US military's healthcare system, enabling patients and clinicians to capture and share health data, Orion said in a statement.

The department has chosen Orion's Rhapsody Integration Engine, which is "designed for rapid interoperability between healthcare IT systems, regardless of technology or standards", it said.

Rhapsody will provide the link between the Department of Defense's Cerner electronic health record system and the facilities that provide care to over 50 percent of military personnel, it said.

Orion’s share price rose 31 cents to $3.75 on the NZX. The stock has dropped 40 percent since listing last November. The shares sold in the company's initial public offering at $5.70 apiece. The company posted a $60.8 million loss for the year ended March 31 as it chased revenue growth and in July said it was performing in line with management expectations.

Its biggest market is in North America.


© Scoop Media

Business Headlines | Sci-Tech Headlines


R&NTU: KiwiRail strike notices withdrawn following new offer

Strike notices on KiwiRail have been withdrawn. Rail and Maritime Transport Union General Secretary Wayne Butson says following negotiations between the RMTU and KiwiRail, a new offer from KiwiRail will be taken back to union members for ratification... More>>

Banking: Stress Tests Show Strengthening Bank Resilience

The latest stress tests carried out by the Reserve Bank of New Zealand – Te Pūtea Matua show strengthening resilience in the banking sector and the benefits of continuing to build capital buffers... More>>

Statistics: Building Activity Down In September Quarter
The volume of building activity in New Zealand fell 8.6 percent in the September 2021 quarter, compared with the June 2021 quarter, Stats NZ said today. Residential building activity fell by 6.4 percent in the September 2021 quarter, while non-residential building activity fell 12 percent... More>>

Reserve Bank: Deputy Governor Reflects On Time At RBNZ
Central bankers must continue to look forward to guard against the unpredictable, Deputy Governor Geoff Bascand says in a speech published today. Mr Bascand joined the Reserve Bank of New Zealand – Te Pūtea Matua in 2013 during the aftermath of the Global Financial Crisis... More>>

Xero: Data Reveals ICT Expenditure Key To Small Business Sales Growth
Xero, the global small business platform, today released a new report which shows New Zealand small business ICT expenditure has increased 25 percent compared to pre-pandemic levels - more than the UK (20%) and Australia... More>>

Fonterra: Lifts Forecast Farmgate Milk Price Range And Revises Earnings Guidance At First Quarter Update

Fonterra Co-operative Group today lifted its 2021/22 forecast Farmgate Milk Price range, reported a solid start to the 2022 financial year and revised its earnings guidance... More>>

Canterbury Museum: New Research - Bald Haast's Eagle Feasted On Moa Guts

New Zealand’s extinct Haast’s Eagle (Hieraaetus moorei), the largest known eagle, gulped down viscera like a vulture and may even have been bald, new research suggests... More>>