Telstra Health, which provides software products, solutions and platforms for the aged care sector, is to pay $95 million for 70% of Adelaide-based PowerHealth, a global leader in healthcare and hospital software solutions.
It is a specialist provider in billing, costing and revenue solutions, budgeting, safety and quality, decision support and application integration solutions.
Founded by Patrick Power in 1995, PowerHealth’s software supports public and private hospitals and healthcare providers in more than 20 countries, with its largest customers the Province of Quebec, the New Zealand Government, Hong Kong Government’s Hospital Authority, Saudi Arabia’s Ministry of Health, the majority of Australian hospitals and Local Health Districts or Health and Hospital Service.
Telstra Health’s Managing Director, Professor Mary Foley AM, said in a statement, partnering with PowerHealth would enable Telstra Health to provide a more connected and improved digital health experience for the health and aged care providers it supports.
“This announcement marks a significant uplift in our capability by combining the solutions and platforms within Telstra Health and PowerHealth to provide a more sophisticated and comprehensive offering of digital health solutions to an international market,” she said.
When the transaction is completed, Telstra Health will create a development hub in Adelaide. Mr Power will join Telstra Health’s senior executive team as Head of International Growth.