Beamtree's Major Contract Win in Saudi Arabia

Beamtree Holdings Limited (ASX:BMT) has secured a significant recurring revenue contract in the Kingdom of Saudi Arabia (KSA). The company has won a second contract, valued at $1.4 million, to supply its clinical coding technology product, PICQ, to the Centre for National Health Insurance (CNHI) in KSA.

Beamtree CEO's Perspective on the Contract Win

Tim Kelsey, CEO of Beamtree, expressed his enthusiasm about the contract win, stating, 'Beamtree and Lean share a vision to improve patient outcomes and the more effective use of data in health services. It is a great privilege to serve the Centre for National Health Insurance as it sets world-class standards in data quality and in this way support the best financial and clinical outcomes for healthcare in Saudi Arabia.'

Summary of Beamtree's Contract Win and Future Outlook

Beamtree Holdings Limited (ASX:BMT) has successfully secured a major recurring revenue contract in Saudi Arabia, marking an important strategic milestone for the company in the region. The contract, valued at $1.4 million, involves supplying the PICQ technology to CNHI for monitoring data quality among Ministry of Health hospitals. This win not only adds approximately $1 million in annual recurring revenue to BMT but also validates the company's strategy for new international market entry. With Saudi Arabia prioritizing the improvement of hospital data for financial efficiency and clinical outcomes, Beamtree's software has demonstrated its competitive value proposition. The CEO's vision to improve patient outcomes and the effective use of data in health services aligns with the company's ambitions to serve world-class standards in data quality and support the best financial and clinical outcomes for healthcare in Saudi Arabia. Beamtree's future outlook involves targeting recurrent software contracts in other international markets following similar successful projects, indicating a positive trajectory for the company's corporate strategy and growth.