Orion to raise $32.9M in rights offer after posting full-year loss, sees profit in 2018

Mon, 29 May 2017

By Pattrick Smellie May 30 (BusinessDesk) - Orion Health is to raise $32.9 million in a discounted two-for-nine rights issue to shore up working capital after posting a full-year loss that reflected weaker Europe, Middle East and Africa sales. It expects to be profitable in 2018 even after a drop in recurring income from a US customer. The health management software company's net loss was $34.2 million in the year ended March 31, down from $54.4 million a year earlier, and in line with its revised guidance last month that warned delayed e...

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