Telstra Health today announced the acquisition of iCareHealth, one of Australia’s primary providers of software solutions to the aged care sector, as it continues to build capabilities to become Australia’s leading provider of integrated eHealth solutions.
iCareHealth is the only aged care software provider to offer a single person electronic health record that accommodates the entire continuum of aged care – from community care to residential aged care.
Telstra Health Managing Director, Shane Solomon, said that the acquisition recognises iCareHealth’s position as a leader in the aged care sector and the important role they can play in helping Telstra Health achieve its broader vision in eHealth.
“Our ambition is to build a more connected health system and part of this is to deliver better care to Australian’s as they age. Our acquisition of iCareHealth will help us to achieve this,” Mr Solomon said.
“We are excited to add iCareHealth and the expertise and capability that they bring to our team. Their nimbleness, innovation, creativity and expertise will be a strong addition and we are delighted that their key personnel will come across with the company.”
iCareHealth Managing Director Chris Gray believes the transaction provides the company with unrivalled scale and stability, which is increasingly important as the aged care sector undergoes its most dramatic transformation in over a decade.
“The aged care sector is undergoing significant change as the ageing population drives increased demand, the new Consumer Directed Care (CDC) regime comes into place and emerging technologies reshape service delivery,” said Mr Gray.
“This transaction provides iCareHealth with the backing to evolve and scale our solutions to support the growth of our clients across the continuum of the aged care sector. With the vision and support of Telstra, we will be able to provide greater integration across the sector to improve point-of-care service and drive productivity gains.”
“Furthermore, as part of Telstra, our increased scale will ensure we are best placed to provide software that eases the burden of increasing regulation and compliance for providers of aged care services. Importantly, we will maintain the focus on delivering the best outcomes for consumers of these services,” said Mr Gray.
iCareHealth is the only aged care software provider to offer a single person electronic health record that accommodates the entire continuum of aged care – from home care through to residential care. In the residential aged care sector iCareHealth’s Clinical and Care Management software is used in the provision of care for 50,000+ aged care residents – representing over 40% of the market that has now migrated off manual, paper-based systems for care management. It’s Medication Management software supports the administration of medications mitigating risk for 30,000+ residents – representing over 80% of the market. iCareHealth’s Home Care software simplifies staff management, rosters, payroll, invoicing, CDC budgets, statements, and government reporting.
About Telstra Health
Telstra Health’s ambition is to create a better health system for patients, providers and funders. Telstra Health aims to be the partner of choice, working with the industry, government, funders as well as the world’s best and most innovative eHealth companies to build a future where eHealth solutions are integrated together to create a brilliantly different health care system. Telstra Health is a business division of Telstra Corporation, Australia’s leading telecommunication company.
Helfen Corporate Advisory acted as strategic adviser to iCareHealth in this transaction.
Groom Kennedy and Minter Ellison acted as legal advisers to iCareHealth in this transaction.
Media contact: Lauren Murphy
Phone: 03 9652 8138