Tuesday, August 05, 2014

Now Those Who Made Money Delivering A Pathetic PCEHR Are Trying To Cash In.

This appeared a few days ago.

Blue sky talk stirs interest in NZ’s Orion Health float

Edited by Sarah Thompson, Anthony Macdonald and Gretchen Friemann
Another day, another cloud-based software initial public offering contender. This time it is New Zealand’s Orion Health, with brokers First NZ Capital/Credit Suisse and Deutsche Craigs on board to handle the listing.
The two banks took Orion to meet potential investors earlier this month, in round one of pre-marketing for a potential $100 million raising and $500 million float.
The company is expected to seek a primary listing in New Zealand with a secondary listing on the ASX.
It’s a similar structure to Metro Performance Glass, which made a solid debut on Wednesday, and the raft of Kiwi energy privatisations over the past two years.
The brokers have already started drumming up interest among Australian fund managers ahead of an October float.
Orion is a cloud-based software provider making about $150 million revenue a year through the sale of its cloud-based health record-keeping and data collection software.
More here:
So the people who brought us the slow, clunky, information concealing user interface for the PCEHR are hoping to raise money and cash in on the backs of share-purchasers who really have not experienced how inefficient and user unfriendly some of the software they sell is.
This IPO (Initial Public Offering) is a total ‘Avoid’ in my humble opinion. There are many better products out there and you can be certain there are one or two nimble software developers and providers who are already developing the replacements for what Orion offers and that will displace them.
Caveat Emptor!
David.

5 comments:

Anonymous said...

Give us a break David - that's business. We wore the risk, invested our money, did the hard yards, built the business, slogged our guts out and now it's time to reap some reward - to get some of our money back with an ROI and invite others to share the risk going forward to take the business to new highs. We'd also like to invite you to invest in our business and share the rewards going forward.

Dr David More MB PhD FACHI said...

No way re Investing...

When you choose to flog stuff to Government that is as unfit for purpose as the PCEHR is - well sorry.

The PCEHR is flawed conceptually and practically - stacking lists of records is hardly useful for most - and the whole project was flawed.

Orion should have realised just how stupid the Government was being - and should not have been suckered in by the money - and so on.

You guys profited on the basis of a solution and a programme which was not fit for purpose and was utterly ill-conceived in my view.

So sorry if you disagree.

BTW - you won't see a cent from me!

David.

Anonymous said...

Would depend on if Andrew Howard gets a fat bonus after the float, however I think all Mr Howard is guilty of is flogging a solution looking for a problem then like most sales people was unable to deliver the goods and in a panic slapped lipstick on the pig, got the invoice paid and repositioned himself. Sadly his legacy still lives on at NEHTA

Anonymous said...

Nice rant that is devoid of any facts. Perhaps a mention of who implemented the software, as well as those who had a hand in its configuration and rollout, would be better than bagging the company that developed the underlying software and continues to invest in enhancing it.

It would also be nice if this blog took more of a subjective view of Health IT in Australia. A scroll through the titles of the posts shows much negativity and bias towards anything Health IT/PCEHR related. There are some talented people doing amazing work this field. It wouldn't hurt to highlight the good work on occasion.

Dr David More MB PhD FACHI said...

It is good to see the Marketing people of Orion on the case.

If you read rather than scrolled you might get to understand I am very pro Health IT DONE PROPERLY - hardly something you can accuse the PCEHR of being.

On the float all I can say is that I do not believe it is a good investment and have some sound reasons for saying so. Others mileage may vary as they say.

David.