HSC announces cashflow positive quarter

HSC announces cashflow positive quarter

Healthcare Tech Outlook | Wednesday, February 03, 2021

Queensland headquartered and ASX-listed company HSC Technology Group have reported a strong December 2020 quarter with cash receipts of $1.329 million, and a positive net operating cashflow for the December quarter.

After a successful capital raise of $3 million in December, the company closed the period with total cash of $4.457 million, ideally positioning HSC for future growth opportunities.

Managing Director Graham Russell says he is very pleased with the company’s performance and progress in selling into key market segments.

“HSC has taken significant steps to drive the company’s revenue and have established the foundations for a very successful 2021,” says Mr Russell.

“These foundations include relocating to the east coast, hiring an experienced sales team, investing in an inventory management solution and refreshing the board of directors.

“We have a number of major projects underway and each win further validates our go-to-market approach.

“The over-subscribed capital raise demonstrates the market understands our vision and is prepared to invest in the company, which we see as a strong endorsement of our approach.”

During the same quarter, the company also reported an increase in subscribers, with more than 4,700 active commercial subscriptions throughout Australia and New Zealand.

Following on from the Royal Commission, the delivery of aged care is set to experience an overhaul, with assistive technology expected to be at the forefront.

With innovative tech, medical grade wearables, real time tracking technology and a cutting-edge data-driven platform, HSC is geared to kickstart a tech trend facilitating better care and ultimately, save more lives.

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