IBA acquires HATRIX Pty Ltd
HATRIX develops medication software solutions for acute care, aged care and community health care providers in Australia and New Zealand.
As part of the acquisition, IBA will pay HATRIX shareholders an initial consideration of $2 million. A further earn-out, capped at $13 million, may be paid over three years in cash or shares.
In a statement issued to the ASX, IBA indicated that: “Through its iSOFT business, the company will leverage its global customer base to boost sales of HATRIX’s flagship MedChart medication management solution.”
MedChart is already integrated with iSOFT software products at a number of iSOFT’s installed customer sites, and the company plans to use HATRIX’s expertise in further developing its own LORENZO medication management solution.
MedChart also underpins a new solution that iSOFT will bring to market, initially in Australia, called MedShare. The new product will enable authorised clinicians from different health provider organisations to review and update a shared patient medication record that is held in a secure repository.
IBA Executive Chairman & CEO, Gary Cohen, said: “This is the kind of acquisition that allows us to leverage our global footprint with a proven and innovative medication management solution that will deliver real patient and carer benefits. We also believe this will position the company to work with the Australian government in its desire to rollout medication management solutions to the Australian public hospital sector.”
Posted in Australian eHealth