Orion Health edges closer to going public, hiring 'IPO comms' firm

Orion Health CEO Ian McCrae (right) and Director Andrew Ferrier

Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.

Launch Radio player

Orion Health, whose cloud-based software manages patient data for some 300,000 clinicians worldwide, gave another hint it plans to go public this year, hiring a corporate public relations firm that has specialised in initial public offerings.

Auckland-based Senescall Akers, whose clients have included Gentrack [NZX: GTK], ikeGPS [NZX: IKE], Hirepool, Airwork [NZX: AWK], A2 Milk and Synlait Milk [NZX: SML], has been retained by the health software group ahead of what will be one of the biggest share sales this year.

A spokesman for the PR firm declined to comment and Orion Health didn't immediately return calls, but executives have previously said they've been in talks with brokerages First NZ Capital and Craigs Investment Partners. There has been speculation the capital raising would be $500 million, making it second only to the Genesis Energy IPO that raised $736 million for the government.

Orion's revenue climbed 22 percent to $122 million in 2013, ranking it third on the Tin100 list of fast-growth companies. The company increased sales to both Europe and North America and the company is "emerging as the leading vendor," which is "driving unprecedented growth," according to the tinetwork.co.nz website.

Orion today announced that it has was supreme winner of the American Chamber of Commerce Success and Innovation Awards 2014 and winning an exporter of the year award.

What do you think? Are tech companies listing on the stock exchange too early? Click here to vote in our subscriber-only business pulse poll.

(BusinessDesk)


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7304 -0.0009 -0.12%
AUD 0.9340 -0.0001 -0.01%
EUR 0.6676 0.0011 0.17%
GBP 0.4726 0.0001 0.02%
HKD 5.6621 -0.0036 -0.06%
JPY 88.9130 0.0110 0.01%

Commods

Commodity Price Change Time
Gold Index 1204.0 -0.520 2015-05-22T00:
Oil Brent 65.9 1.310 2015-05-22T00:
Oil Nymex 59.7 -1.040 2015-05-22T00:
Silver Index 17.0 -0.081 2015-05-22T00:

Indices

Symbol Open High Last %
NZX 50 5795.0 5800.4 5795.0 0.05%
NASDAQ 5085.4 5103.8 5090.8 -0.03%
DAX 11881.5 11881.8 11864.6 -0.42%
DJI 18286.9 18286.9 18285.7 -0.29%
FTSE 7013.5 7061.7 7013.5 0.26%
HKSE 28462.3 28524.6 27992.8 1.21%
NI225 20431.3 20456.4 20413.8 -0.07%