Wednesday, August 18, 2021

What To Make Of Telstra Health Buying Medical Director For $350 Million.

We first heard about this for sure here:

Telstra secures deal to buy GP software group MedicalDirector

Anthony Macdonald and Yolanda Redrup

Telecommunications bigwig Telstra is set to acquire Australian patient management software company MedicalDirector.

Sources said Telstra and MedicalDirector’s owner, private equity firm Affinity Equity Partners, signed a deal over the weekend after an auction run by investment bank Jefferies.

Telstra chief executive Andy Penn has said that Telstra Health is a long-term bet. He’s now helping the business considerably increase its footprint in the general practice sector.  

The deal will see MedicalDirector join the telco’s Telstra Health unit, which provides IT and software services to health and aged care groups in Australia including government-run services and private providers.

MedicalDirector is the second biggest provider of in-practice software to GPs in Australia. The company says about 23,000 clinicians use MedicalDirector to deliver more than 80 million consults a year. The software includes practice management, clinical health records, billing, reporting and referral management functions.

MedicalDirector was formerly owned by ASX-listed Healius (formerly Primary Health Care), before it was sold to Affinity for $155 million in 2016.

 

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