Dipra Ray is the CEO of mPort and Springday, the former being a health company specialising in 3D body mapping, to assist people on their wellbeing journeys while the latter is a corporate wellbeing organisation that develops bespoke programs for workplaces to keep their employees happy and engaged in their roles. The companies merged together at the end of 2019. 

What’s your journey in becoming a Chief Executive Officer?
I started my first business when I was in high school where I managed a network of really intelligent people who worked as tutors which gave me a strong foundation in being able to both hire and manage exceptional people. At university, I decided to pursue studies in Accounting and Finance as I thought would provide me with the base knowledge of how businesses operated and ended up completing an Honours in Finance. Post my Honours, I started my career as an investment banker with Deutsche Bank specialising in mergers and acquisitions. This gave me a broad base of commercial & capital markets knowledge and also the ability to work under high pressure environments. Post my stint at Deutsche, I founded mPort and was the first CEO there and have continued in that role since.

Tell us a bit about your business and how you are commercializing?
mPort and Springday are building clever ecosystems that help to improve the wellbeing of people. At mPort we do this via capturing accurate body measurements through our one-of-a-kind fully automated mPods that are located in most of Australia’s top shopping centres. People use our service to see how their bodies are changing over time and to keep themselves motivated on their fitness journey. Springday on the other hand provides corporates with a platform to help keep their staff engaged, happier and healthier. We work with businesses to build wellbeing journeys that are personalised, interesting and fun. We work with some of Australia’s leading businesses who are committed to improve the wellbeing of their people.

What’s the most exciting thing about running your business?
The most exciting part about running mPort & Springday is that we’re constantly growing and expanding both our products but also the range of industries and clients we service. Every week is an ability for us to continue building our product and create more value for our partners and customers. It’s also super exciting to see how we’ve been able to mature as a business and see the level of growth we’re generating for our own people.

How do you measure success?
Success = being happy 🙂

What do you think is the most important quality of being a CEO of a listed company?
The most important quality of being a CEO is to be able to set an achievable focused strategic vision and then focus ruthlessly on execution. Too many businesses set far too broad strategic visions or stumble when it comes to execution by getting distracted by anything new. Being disciplined and focused on one’s core strategies is really important for a high growth business.

What is your favourite book?
Liar’s Poker by Michael Lewis and Five Point Someone by Chetan Bhagat.

What message do you want to send to our readership in Asia & Australia?
Health and wellbeing will develop into a more sophisticated trend that what we’ve seen in the past few years. So far, the trend has been mainly focused on products such as health foods, dairy and alike. We’re seeing that shift as consumers become more aware of how important overall wellbeing is – both from an emotional and physical perspective. While emotional wellbeing still remains a taboo topic in a lot of Asian countries that will change as the younger generation demands better conditions and as the global workforce becomes more mobile. This is primarily why we see a huge opportunity to invest in wellbeing in the Asian markets.

How can people connect with you?
Linkedin: https://www.linkedin.com/in/dipra-ray/
mPort’s Website: https://mport.com/
Springday’s Website: https://myspringday.com.au/

The focus on digital health has become a global trend.

The long-term benefits of technological adaptation in this space will most likely be a reduction in unnecessary use of health services, alleviating the burden on undermanned or under resourced health providers, reduced costs and better, more efficient patient care.

Global Market Insights estimates the global digital health market  to be worth US$639B in 2026 and outlines several growth drivers, including the rising adoption of smart devices, improving healthcare IT infrastructure, favourable government regulations and initiatives, and rising demand for remote patient monitoring services.

The factors have been at the forefront of OneView Healthcare plc’s (ASX:ONE) thinking.

ONE is a health tech company that provides hospital patients a “virtual care and digital control centre” at their bedside to deliver the best possible patient experience during their stay.

Its software (SaaS) platform is sold as a yearly license fee per hospital bed, with the pandemic accelerating the uptake of this platform.

In fact its control centre, is currently used in 9,259 hospital beds around the world, including three of the top 20 hospitals in the USA.

ONE’s tech provides patients with a single touch screen at their hospital bed where patients can:

• Have virtual consultations with relevant medical specialists – local and from around the world
• Control all aspects of their room (bed, lighting, temperature),
• Order food, watch movies, get a nurse’s attention (think airline business class screens)
• Interact with tailored rehab, education and training videos for YOUR health situation, and;
• Monitor your health outcomes – Doctors and nurses have better info on you.

A single point of care

ONE was founded as a software and solutions business operations in 2008, with the objective of enabling healthcare organisations to make use of technology to drive cost efficiencies, improvements in clinical outcomes and enhanced patient satisfaction.

The idea was to create an experience leading to overall excellence in healthcare economics and quality of care.

For patients, ONE offers digital tools to help control their experience with virtual care at the bedside. ONE delivers a SaaS experience that transcends current in-room technology.

Oneview at the patient’s bedside

For the care team, optimisation of patient flow and patient experience becomes more personalised and engaging.

Effectively, Oneview offers a secure, flexible and scalable platform where the digital infrastructure for content, apps and services is at one point of care.

Uptake proves uplifting for ONE

Given the uptake and interest in the ONE solution, the company has delivered on many key metrics.

Highlights include:

• Expanded global footprint – live beds up 9% YOY to 9,259
• Recurring revenue up 13% to €5.1M, reflecting expanded user base despite short-term impact to recurring revenue growth as COVID-19 delayed scheduled deployments
• Improvement across key operational performance metrics, delivering reduced cash burn and cost
• Significant progress on product development–central to growth strategy including investment in next generation platform
• Process improvements and engineering offshoring
• Material improvements in productivity
• Enabling rapid delivery of the first cloud solution, Cloud for COVID-19.

Further to this recurring revenue is up by 13% to €5.1m (A$8.0m) due to expansion of live beds.

Covid-19 did have one negative impact for ONE: it prevented access to hospital sites, delaying installation and the go-live increase rate.

This is is expected to normalise in 2021.

Overall, the company has delivered higher gross margins. Gross profit margins improved 67% (up from 60% in FY19) due to changing revenue mix towards higher margin software recurring revenue.

The company had also enjoyed improved operational performance due to a  focus on cost control. It has reduced operating expenses by 44% and improved operating EBITDA by 60% to a loss of €6.2m (A$9.7m).

There is also reduced cash burn and the cash balance of €6.8m (A$10.6m) reflects the €4.8m (A$8.7m before costs) capital raise conducted in Nov/Dec 2020 and the significant reduction in operating cash burn.

Interestingly, ONE currently has $7.85M in Annual Recurring Revenue (ARR) and is projecting 45% growth this year. However, this does not factor in any future revenue from Samsung.

Samsung sees the value of ONE’s technology

ONE signed a Distribution Agreement with Samsung SDS America, Inc., the enterprise IT solutions provider of Samsung, to offer a bundled solution for bedside digital services for patients in the United States.

The agreement went live in February this year.

Samsung SDSA will bundle Samsung tablets with Oneview Cloud Start –the first tier in Oneview’s new product suite.

The bundle will be distributed to healthcare-enterprise focused enterprise resellers.

“Our move to the cloud accelerates speed to market and opens new possibilities for distribution, making it faster, easier and lower-cost for end-customers to benefit from the digital platform at the bedside,” ONE CEO James Fitter said.

“Never has this need been so apparent. Our partnership with Samsung provides a unique opportunity to address new virtual models of care and provide the solution for Samsung SDSA to enhance the value proposition for their reseller network.”

The agreement is designed to continue the improvement in US healthcare, in particular patient care.

Mingu Lee, Chief Business Officer and Senior Vice President, Samsung SDS America, said “Our distribution partnership with Oneview Healthcare enables us to deliver a more cost-effective and impactful solution, allowing caregivers to work efficiently while providing a connected experience for patients.”

The agreement not only opens up further revenue streams for ONE, but also provides customers with an upgrade path to ONE’s Cloud Enterprise tier with additional features.

Strategic partnerships including its Samsung agreement and an agreement with Microsoft, Cloudbreak and Caregility, with whom it entered a partnership to enable customers to scale inpatient telehealth across the enterprise as the COVID-19 pandemic continued to ravage Dublin, Ireland, continue to define ONE’s go to market strategy especially in the US where there are 6000 hospitals.

ONE’s full SaaS platform is anticipated by the end of Q1 2021.

ONE is trading at 21.5 cents.