Why the Global Health (ASX:GLH) share price is up 5% today

The Global Health (ASX: GLH) share price is up 5.3% today following a positive announcement of a significant contract win by the company.
The post Why the Global Health (ASX:GLH) share price is up 5% today appeared first on Motley Fool Australia. –

increase in asx medical software share price represented by doctor making excited hands up gesture

The Global Health Limited (ASX: GLH) share price is on the rise today after the company released a positive announcement regarding a significant contract win. In early morning trade, shares in the digital health company were down 6.5% to 35.5 cents before the Global Health share price rallied to its current level of 40 cents at the time of writing. In comparison, the All Ordinaries Index (ASX: XAO) is up 1.16% to 6,586.30 points.

What’s moving the Global Health share price?

The Global Health share price is on the move today after the company reported it has signed an important contract with Butterfly Residential Care. The new deal will see both companies integrate a client management system that focuses on dealing with mental health issues.

Butterfly Foundation is the national organisation for people living with eating disorders and body image issues. The organisation’s mission is to change lives by providing evidence-based support services, as well as delivering prevention and early intervention programs.

Backed by the federal government, Butterfly established a subsidiary called Wandi Nerida which is operated by Butterfly Residential Care. Located on Queensland’s Sunshine Coast, Wandi Nerida is Australia’s first, community-based residential facility for eating disorders.

The state-of-the-art, purpose-built facility will house 13 beds and provide a phased treatment structure to address mental illness. Providing the company is able to secure enough funds, the clinic is expected to open in mid-2021.

The integrated client management contract is worth in excess of $122,000 to Global Health for the initial 12 months. The agreement will feature a portfolio of Global Health products such as its MasterCare services, ReferralNet program, and HotHealth Virtual Care platform.

What did management say?

Wandi Nerida Executive Director, Ms Jodie Ashworth, spoke about the new partnership. She said:

Butterfly Foundation has partnered with Global Health to provide an EMR and PAS solution for Wandi Nerida, Australia’s first residential eating disorder facility. Global Health maintained a high focus on customer service and adaptability throughout the selection process. Their experience with ICT solutions for mental health services made them a clear choice for developing innovative solutions for leading edge health providers.

Adding to Ms Ashworth’s comments, Global Health Managing Director, Mr Matthew Cherian said:

Our team acutely understand what is happening in the mental health space in Australia, having developed the IT services to assist and recognise the importance of this initiative. We are strongly committed to supporting the Wandi Nerida facility to become the benchmark and ultimately viewed as the best practice model in dealing with the specific needs of people living with an eating disorder.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

Find out the names of our 3 Post COVID Stocks – For FREE!

*Returns as of 6/8/2020

More reading

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why the Global Health (ASX:GLH) share price is up 5% today appeared first on Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!