Telstra Health, a practice management software company, agreed to acquire healthcare practice management software company MedicalDirector for $350 million.
MedicalDirector provides software for electronic health records, patient and practice management, billing, scheduling, care coordination, medicines information, and clinical content for general practitioners and other specialists in the Austria healthcare sector. According to the company, its software solutions deliver more than 80 million consultations a year and support approximately 23,000 medical practitioners.
According to Telstra Health, MedicalDirector’s acquisition will add a desktop and cloud-based software capability for GPs and other specialist medical practitioners, joining Telstra’s existing network of digital health services for hospitals, pharmacies, and the aged care sector.
Telstra Health said in a statement, “Following our acquisition, we will significantly increase investment in MedicalDirector to provide GPs, other specialists, and allied health practitioners with the best digital solutions across desktop and cloud to support the future delivery of primary healthcare.”
The acquisition is expected to close within this financial quarter, according to the press statement. “This acquisition helps realize our vision to connect and coordinate across the continuum of care, enabling smoother experiences for those who need care as well as for providers of care,” Telstra Health said.
Telstra Health said: “Telstra Health said With digital solutions across the entire spectrum of health and aged care, we can better support patients and providers by removing siloes between sectors to improve the delivery of quality health care,” Telstra Health added.
The latest acquisition follows Telstra Health’s recent announcement to acquire a majority stake in PowerHealth, a provider of billing, clinical costing and revenue solutions, budgeting, safety and quality, decision support, and application integration solutions for hospitals and other healthcare enterprises.
One hundred thirty-six digital health companies were acquired in the first half of 2021 compared to 83 in 1H 2020.