Genesis Automation has signed a multimillion-euro deal with the Scottish government that will see the company's software rolled out to hundreds of National Health Service hospitals in the country.
The Cork-based healthcare software company, which is led by founder Noel O'Hanlon, said this is the first time that an agreement of this magnitude has been reached by the Scottish government with a technology provider on behalf of NHS Scotland.
Founded in 2010, Genesis Automation specialises in solutions that improve patient safety while cutting costs and eliminating waste for healthcare providers. Its key product is an inventory and cost management software system that allows hospitals to easily manage inventory and supply chains as well as analysing the cost of patient care.
“We are the world leader at what we do and what makes us unique is that our software manages everything from warehouse stock right through to an individual patient in the emergency room,” said Mr O’Hanlon.
"Genesis Automation is already the market leader in England and works closely with the NHS there, but we had no locations in Scotland up to now. This five-year multimillion-euro deal, which comes after a six-month in-depth evaluation, sees us replacing an old system that had been in situ for 20 years. Our software will be in hundreds of hospitals across Scotland," he added.
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Mr O'Hanlon has been based in Florida for the past few years as the company seeks to expand in the US. It signed a major deal with private US hospital chain Novant Health in 2019 that saw its software being rolled out to 15 hospitals across North Carolina, South Carolina and Virginia.
Mr O’Hanlon, a former EY Entrepreneur of the Year finalist, said while Genesis is still experiencing growth, Covid has had an impact.
“Covid has been both good and bad for our business. Good to the extent that it is being used to monitor things like PPE use in hospitals, and in doing so is showing just how valuable the system is. But at the same time, a number of big contracts we were about to sign with private hospital groups in the US were put on hold at the start of the crisis and are only just getting sorted now,” he added.
Genesis Automation secured €21 million in investment from backers in 2019. Mr O’Hanlon said the company was expecting to do another fundraise of between €5 million and €10 million this year as it looks to further increase its footprint in the US.
