Today, Telstra Health’s Melbourne-based digital healthcare company, Telstra, announced an agreement to acquire a majority stake in PowerHealth, an Adelaide-based healthcare software provider.
The report states that the agreement is designed for approx $ 150 million ($ 110.7 million).
Founded in 1995, PowerHealth specializes in billing, payroll, budgeting, security and quality, solution support, and solution integration for hospitals and other healthcare businesses.
The company provides software that supports activity-based financing and is used in more than 20 countries.
In addition to Australia and Canada, PowerHealth also operates in Ireland and the Middle East. The largest consumers are the province of Quebec, the Hong Kong government hospital and the Ministry of Health of Saudi Arabia.
WHY IT’S IMPORTANT
In a statement, Telstra Health stressed that its investment in PowerHealth will help it expand in global growth markets while using an international business partner.
It will also enable the company to provide a “more integrated and enhanced digital health experience” for its customers in the health and care sectors.
The transaction is expected to be completed by the end of the second quarter of 2022, subject to regulatory approval.
After that, Telstra Health will also set up a development center in Adelaide. PowerHealth founder and managing director Patrick Power will soon join the company’s senior executive team as head of International Growth.
At the end of February, Telstra Health and Telecommunications TELUS signed a working agreement on cooperation and development of new digital solutions in the field of healthcare. Their partnership has launched the TELUS Health Exchange International platform in Australia through Telstra Health’s offerings. An open, standards-based platform supports collaboration and facilitates communication in the ecosystem of healthcare developers.
Two months later, Telstra Health introduced Kyra, a suite of integrated digital hospital solutions that provides compatibility. Available on mobile, desktop, and other digital devices, the healthcare platform uses data visualization to optimize care models and patient experiences. He also has decision support and forecasting analytics.
“Telstra Health has grown significantly over the past few years, and this announcement marks a significant boost in our capabilities, combining solutions and platforms at Telstra Health and PowerHealth to provide a more sophisticated and comprehensive offering of digital medical solutions in the international market,” said Mary Foley, Managing Director. Director of Telstra Health.
“Telstra Health’s strategic partnership and investment will enable the PowerHealth and Telstra Health teams to work together to encourage even greater innovation and the ability to find solutions to complex health and healthcare ecosystem issues,” commented PowerHealth’s Power.