The group was focused on maintaining its longstanding relationships with several high-profile healthcare providers in the region, such as Alberta Health Services where Orion recently delivered improved functions to the existing Orion Health services.
The improved functions allowed a more efficient advisory service that would result in reduced waiting times for 4.15 million patients throughout the province.
Orion's operating revenue for the six months ended September fell 22% to $82 million from the previous corresponding period, largely driven by a weaker performance in the North American region.
On a constant currency basis, the fall in operating revenue was made up of a 32% fall in North America and a 10% fall in EMEA (Europe, Middle East and Africa) countries and 11% growth in APAC (Asia-Pacific countries), he said.
The group reported an operating loss of $25 million for the period, higher than the $16.5 million loss in the pcp. Its after-tax loss rose to nearly $26 million from a loss of $18 million last year.
In a release to shareholders, Mr McCrae said the operating revenue of $81 million led the group to revise its full-year guidance to $175 million to $190 million, based on current exchange rates.
The updated guidance was reflective of a revised approach to revenue forecasting.
Further cost reductions had been and were being made
in response to the more conservative revenue forecast, he said.
Orion Health historically managed costs in alignment with its revenue and that was the discipline to which the group was returning.
In New Zealand, the launch of HealthOne in the Nelson-Marlborough region in August meant all five South Island district health boards were now sharing relevant patient information electronically.
Orion remained committed to innovation and advancing its suite of products while maintaining a fiscally responsible research and development programme as part of the drive to achieve sustainable profitability, Mr McCrae said.
Orion Health raised $32 million through a rights issue earlier this year to put it on a healthier footing as it chased a return to profit after a challenging 2017 forced restructuring. In May, a strategic review to search for sources of additional capital, including minority investments in the company, was given a broader mandate to bolster the long-term capital structure of Orion. The strategic review remained ongoing and was expected to take additional time as the group continued to evaluate a number of alternatives.
The company had total cash and cash equivalents of $16.1 million as at balance date, compared with $24.2 million a year earlier. The company said its working capital facilities, totalling $40 million, were extended, giving it a total of $56 million of available cash and banking facilities.
