The Melbourne-based medical technology company has acquired Newly, an online aged care and disability employment service founded in 2014, according to Australian Ageing Agenda.
The total price paid includes $920,673 upfront and a deferred earn-out payment of 4x profit before tax for Calendar Year 2019 for founders Bill Mountford and Helen Kemp. Ms Kemp will also take on the role of CEO.
Newly offers a matching service for aged care and disability support workers that matches them with providers and clients.
They now say they plan to expand interstate, starting with QLD. Another sign that the disruption model market is heating up?