Next Investors logo grey

ProVision selects 1stAvailable to service optical stores

Published 23-NOV-2016 17:00 P.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

Online health portal, 1st Available Limited (ASX:1ST), has penetrated the optical market through an agreement with ProVision, Australia’s largest independent network of optometrists with 440 doctors in total.

ProVision has chosen 1ST to manage its online optical appointment bookings following a successful pilot of 1ST’s platform that was tested on 20 optical practices beginning August 2016 and closed in November 2016.

ProVision provides independent optometrists with business support, enabling them to benefit from its collective resources and wholesale buying power.

Over 80 ProVision practices have already signed up to use 1ST’s services, including many businesses also using 1ST’s value-added product, easyRECALL.

The easyRECALL product replaces often mundane, labour intensive and costly phone calls, letters and basic SMS messages used in practices.

The automated digital service aims to improve patient re-booking, enabling them to book and appointment online in just three clicks of the mouse. The product also reduces practice administrative costs.

The agreement with ProVision will enable a rapid rollout of 1ST’s services, which will also enable 1ST to offer add-on services to independent optometrists in order to improve their business operationally.

With almost 3,000 optical stores throughout Australia providing optical services to around 50% of Australia’s population, 1ST is well placed following this latest deal to increase its coverage of the optical market.

However, this is still an early stage play and investors looking at this stock for their portfolio, should seek professional financial advice.

When Finfeed last wrote about 1ST, it had just delivered a strong first half performance results from a financial and operational perspective, while also forging some promising client relationships.

The company’s monthly recurring revenue represented year-on-year growth of more than 40% and monthly new consumer registrations had increased by 400% to more than 20,000 a month.

The ProVision deal should help expand its revenues and reach and help 1ST meet its objective of building Australia’s leading online health services community.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.