Tuesday, August 05, 2014
Now Those Who Made Money Delivering A Pathetic PCEHR Are Trying To Cash In.
This appeared a few days ago.
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.
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.
Posted by Dr David More MB PhD FACHI at Tuesday, August 05, 2014