|20 Jun 2022|
As Orion Health celebrates 30 years in business, the company has announced it has achieved 12% year-on-year growth revenue across its financial year ending 31 March 2022.
Orion Health, the global leader of population health software, grew revenue to $150 million in FY22, underpinned by a profit before short term incentives of $8 million. This is a continuation of Orion Health’s new era of profitability, after delisting in 2019.
Ian McCrae, Founder and CEO of Orion Health, says Orion’s profitability speaks to the company’s international prowess and commitment to being nimble and innovative at all levels.
“More than 80% of revenue of our FY22 revenue came from offshore, with significant multi-year wins in Saudi Arabia and Canada.
“Based on customer feedback and the pitches we’re being invited to; we are the clear leader in population health IT across the world. We have transformed our publicly-listed juggernaut into a business of start-ups, which has fuelled our profitability and delivered value to customers around the world.
“Looking at the financial year ahead we can already plot an upward trajectory and expect to achieve north of $170m revenue,” says McCrae.
New leaders unlocking future growth
After thirty years of leadership and following treatment for a brain tumour, Ian McCrae is adjusting his role to deliver the company’s people plan and leadership transition as the last phase of his five-year rebuild strategy.
“Part of the five-year plan involves me getting Orion Health into a strong position for growth with a strong leadership team across all areas of the business and globe,” says McCrae.
Lucy Porter has joined Orion at a governance level and for special projects. She re-joins the company, after holding various roles within the organisation including business operations of Rhapsody, Orion Health Product Research & Development and UK Professional Services Project lead.
As a Director in the business, Lucy rounds out the governance team of Orion Health, alongside Ian and Orion Health’s chairman, Michael Falconer.
Craig White and Grant Anthony have joined as Orion Health’s Chief Data Officer and Chief Information Security Officer, respectively.
Craig returned to Aotearoa for the role, after two decades offshore working in the healthcare industry, focusing on data and its application to complex healthcare problems.
In contrast, this is Grant’s first role in health, and he brings a wealth of experience from the finance and broader technology sector.
Orion’s Global Leave and Travel People Strategy
Orion Health’s leadership and people strategy extends to offering new benefits for all team members.
“Our new era of growth means we can invest further in our people. Travelling is in our DNA, so as a Kiwi company we want to make it possible for all of our team to travel in whatever way suits their life.
“We toyed with implementing unlimited leave for the team, but we found evidence that people don’t make the most of unlimited leave schemes. So instead we’ve empowered our leaders across the business, to increase leave uptake across the business and then back this up with other initiatives to make travel possible,” says McCrae.
Orion Health is encouraging their employees to reconnect and explore the world with three new initiatives – LeavePlus, TravelFlex and Orion Health OE.
Orion Health is allowing all managers to grant their team additional paid leave as they see fit with LeavePlus.
With TravelFlex, all Orion Health employees can work from anywhere in the world for 30 days. This provides people with the opportunity to reconnect with their loved ones and continue working in some capacity.
Orion Health OE enables team members to work indefinitely from any of Orion Health’s offices in the UK, US, Canada, Australia and Middle East.
“As a result of these programmes, the company has mostly avoided the ‘great resignation’ with low staff turnover of 16% and an average tenure of more than 5 years. We have also had a number of great ex-employees returning to the business.
“Thirty years ago, Orion Health was an idea based on seeing health problems in New Zealand I knew technology could help solve. Now we’ve amassed a track record of breakthrough innovation – from being the first New Zealand company to get the internet, right through to revolutionising healthcare for end users via our Digital Front Door technology – and we’re backing this up with consistent profitability,” says McCrae.