Orion Health Group half year revenue up

Company News

by Rachael Jones

Orion Health Group (ASX:OHE) released their half yearly report today and show how they sold their Rhapsody business to Hg Capital and retained a 24.9 per cent interest and additionally sell a 24.9 per cent shareholding of the remaining Population Health Management business to Hg.

The transaction settled on 31 October 2018.

Revenue for the company was up just over NZ$28 million compared to over NZ$22 million in the six months prior. Profit before tax was over NZ$13 million compared to NZ$7 million on the prior corresponding period.

The company has taken approximately $40 million in expenses out of the Population Health Management business over the last 18 months to drive the business towards profitability.

Shares in Orion Health Group (ASX:OHE) last traded at $1.10.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.