Broker Panmure Gordon & Co described healthcare systems group Avia Health Informatics (LON:AVIA)'s acquisition of IP rights as a "good strategic move".
The broker recommends a "buy" for the stock targeting a price of 45 pence (current price 45 pence).
The firm revealed today that it had acquired the intellectual property rights to sell and manage the future development of Pathfinder - an online patient referral and clinical communication system.
The Pathfinder system has been acquired from Northampton-based Nene Commissioning Group by Avia’s subsidiary Plain Healthcare.
Nene has already successfully rolled the system out across Northamptonshire. Plain will further develop and market the product, branded as PathFinderRF.
PathFinderRF enables NHS Commissioning Groups and other primary care organisations to manage referrals from GP surgeries to specialist and community services for further treatment efficiently and cost effectively.
With the financial and other pressures currently being put on the NHS, Plain believes this is one of the key reasons health service commissioners will see its advantages and be persuaded to buy the product.
Analyst at Panmure George O'Connor said: "Plain can now offer NHS organisations a better ’end-to-end’ solution as now the product range spans initial self-assessment using Odyssey SelfAssess, assessment by the clinician using PatientAssess and the referral by the clinician to general or specialist care using PathFinderRF."
In its announcement today, Avia said the acquisition of PathfinderRF rights will be for paid solely in the form of sales royalties on the licences to use the product. The payments will be on a decreasing sliding scale over a five year period. Avia will fund the limited continued development cost of the product.
Barry Giddings, executive chairman of Avia, said: "We feel that PathFinderRF sits perfectly alongside and complements our Odyssey clinical decision support products and it will mean we can offer further solutions to both new and existing customers within the UK and Ireland - as well as the potential of international opportunities in the near future."