Openpay (ASX:OPY) share price drops despite positive announcement

The Openpay Group Ltd (ASX: OPY) share price is under pressure on Monday despite the release of a positive announcement.

In morning trade the buy now pay later (BNPL) provider’s shares are down 3% to $2.56. This follows further weakness in the tech sector. 

What did Openpay announce?

This morning Openpay announced that it has entered into the Australian hospital segment via a partnership with St John of God Health Care. It is one of Australia’s largest Catholic providers of healthcare services, with hospitals in Victoria, New South Wales and Western Australia.

The company notes that this makes Openpay the first BNPL provider to enter the hospital segment.

According to the release, a six-month initial launch has now commenced…