Venkat Raman
Auckland, June 4, 2020
Medtech Global, a leading medical technology company of New Zealand, has sold its Practice Management System (PMS) to Australasian healthtech advisory and investment company Acclivis Group and Advent Partners, a private Australian investment fund.
Financial details of the transaction have not been disclosed.
Medtech Global will retain its advance Practice Management Software and state-of-the-art solutions used by General Practitioners, Specialists, Allied Health worker and health organisations.
Founder and Executive Chairman Vino Ramayah said that the sale will allow him to restructure Medtech Global to meet the existing and emerging challenges of the market.
The Sales Process
Acclivis Group and Advent Partners were advised by Allier Capital during the sales process.
Cereus Holdings was advised by KPMG Corporate Finance in Brisbane and Maddocks during the sale process.
At the time of the sale, patient health and consumer portal Manage My Health was spun out of Medtech Global into Mr Ramayah’s investment firm Cereus Holdings Limited.
Mr Ramayah said that ‘Manage My Health’ has 700,000 users in New Zealand and a growing international footprint.
The personal health software enables people to manage their own health and well-being together with their GP and other healthcare providers.
“I am a firm believer in the democratisation of health. I also maintain strong interest in the development of cutting edge technologies in health. I am divesting from the wider business because it is time for new talent and leadership and further growth,” Mr Ramayah said.
About Vino Ramayah
Born in Singapore, Mr Ramayah served as a Commissioned Officer in the Singapore Armed Forces (National Service). His educational qualifications include Bachelor of Laws with Honours (University of Singapore), Master of Laws (University of London), and Diploma in Airspace Law (London School of Economics). A qualified Solicitor of the Supreme Court of England and Singapore, he practiced Corporate and Commercial Law in many countries and served as a Director on the boards of serval multinational companies (especially in the Aviation industry) in Asia Pacific.
A visionary with proven management expertise, Mr Ramayah is Chairman of Cereus Holdings Limited, an investment holding company, which has investments in New Zealand, Australia, Asia and Europe in health and bio-informatics, bio and information technology.
Mr Ramayah was the Guest Speaker at the Third Indian Newslink Sir Anand Satyanand Lecture held on July 29, 2013 and Master of Ceremonies at the Lecture held on August 7, 2017.
About Geoffrey Sayer
Acclivis Group Managing Director Geoffrey Sayer, who becomes Chief Executive of Medtech Global, brings to his new assignment 20 years of experience as a business builder and industry leader in the healthcare tech market across Australia and New Zealand.
He was previously Managing Director of Toniq, New Zealand’s largest pharmacy software business, which was sold to Clanwilliam, a group of health technology companies in 2017.
Mr Sayer, who has a record for growing businesses, said that the ability of Medtech Global to adapt to the evolving needs of customers will drive the company’s future growth and success.
“In these challenging times, new models of care have arisen. Medtech has to meet those challenges if we are to make things easier for our users and partners,” he said.
About Medtech Global
Medtech Global is recognised worldwide for its innovative leading-edge software solutions, ability to securely share data and high level of integrity and dependability. The Company enables availability of clinical health information where and when needed most.
Its Practice Management Systems are used by more than 80% of GP practices and a large number of Specialist and Allied Health practices in New Zealand, Australia, USA, UK and India.
The Company’s website says, “Covid-19 has been classified a global pandemic and we acknowledge that our clients are the backbone, supporting the community during this unique time. We realise that practices resources are stretched. Please be assured that providing the highest levels of support during this time is our priority. We have expanded capacity in the support area to cope with increased demand and are doing our utmost to resolve your support queries quickly.”
About Geoffrey Sayer
Acclivis Group Managing Director Geoffrey Sayer, who will become Chief Executive of Medtech Global, brings to his new assignment 20 years of experience as a business builder and industry leader in the healthcare tech market across Australia and New Zealand.
He was previously Managing Director of Toniq, New Zealand’s largest pharmacy software business, which was sold to Clanwilliam, a group of health technology companies in 2017.
Mr Sayer who has a record for growing businesses, said that the ability of Medtech Global to adapt to the evolving needs of customers will drive the company’s future growth and success.
“In these challenging times, new models of care have arisen. Medtech has to meet those challenges if we are to make things easier for our users and partners,” he said.
About Acclivis Group
Acclivis Group acquires, manages, brings together and operates quality digital health companies that make a long lasting and positive impact for the clinicians. The Group strives to lead in innovation, openness and a willingness to move forward with an ecosystem of connected customers, patients, suppliers, carers and funders which shapes the financial benefits for growth and stability.
About Advent Partners
Advent is one of Australia’s leading private investment firms, and currently has about A$700 million in funds under management. Since 1984, Advent has focused on partnering with businesses to support their growth ambitions.
Advent support liked-minded executives and founders, providing capital, access to their networks and strategic guidance. Advent has made over 90 investments and the team has a combined experience of more than 80 years in principal investing.
