Besides a ramble from a slightly unhinged Pulse+IT journalist last week, which turned out to be our most-read article, the big news this week was the sale of specialist software vendor Genie Solutions to a proudly ethical private equity firm. The value of the deal is confidential but we understand it is substantial and so it should be.
Founder Paul Carr and his extended family deserve all the financial benefits that come from having done the hard yards to build Genie into a popular product and a substantial Australian health IT company over the last 22 years.
It's never nice to kick someone on the redundancy line when they are down but the sub-editor at the Daily Telegraph who decided to come up with a headline screaming about your optometrist finding out about all of your abortions because of the My Health Record seriously needs to reevaluate their career choices.
While we had a nice little story about pathology reports finally going up to the MyHR from public hospitals in NSW, over at the Terror it was full-on nonsense mode, in which the fact that access controls are set on universal by default is somehow a 'bungle'. It's not, they've always been like that, consumers can change them whenever they like and no, it doesn't mean 600,000 people will be exposed to your haemorrhoids.
Poor old Orion Health took an absolute bath on the stock exchange this week, its share price plummeting 15 per cent on Monday and another 14 per cent on Tuesday after it provided an update to the market. The reason? A slightly lower revenue forecast, a shrinking bank balance and a few new contracts sliding into FY 2018, including a small but important win to provide a shared care record in the county of Dorset in the UK.
Orion is doing well in the massive US sector, which has been its largest market for some time, but it's likely that the company will have to ask investors for a bit more dough in the short term or start to draw down on its debt facility. As a health IT company like Orion is a long-term bet, you do have to wonder what the scaredy cats who deserted it this week were doing investing in the first place.