Health software company Orion Health has come a long way since it was set up in 1993 by chief executive Ian McCrae with just four staff. Staff numbers have reached well over 1000 in 27 offices globally and this year in particular has been a pivotal one for McCrae.
This year Orion secured several major collaborative deals, including one with the Waitemata District Health Board, and the company listed on the NZX.
After the first day of trading the shares closed up 10 per cent on the $5.70 issue price at $6.27 - valuing the company at that time at just over $1 billion. The stock has since fallen back a little, closing yesterday at $6.20.
The IPO raised $125 million with $120 million of new capital being used to fund growth and expansion of research and development, with McCrae planning to double R&D staff numbers to 700 within two years.
The capital will also be used to fund a major push into new international markets including the US.
