Medtech sold to Banyan Software

NEWS - eHealthNews.nz editor Rebecca McBeth 

The largest supplier of practice management systems (PMS) to Kiwi GPs has been bought by a global software investor Banyan Software.

Medtech Global is estimated to supply its systems to more than 70 percent of the New Zealand GP market and has assured practices that the sale will not mean any change in personnel or approach for them.

The sale includes Medtech Evolution and Medtech Artia PMS’, Medeor® payment solutions, and Medtech ALEX®. 

The company was previously owned by Advent Partners, an Australian private equity firm, and Geoffrey Sayer, the managing director of Medtech Global. 

Sayer says in a letter to customers that under Banyan’s ownership he will continue as managing director and the company’s senior leadership team will remain in place.

“This is a vote of confidence in Medtech: our software, our people, our support, our business model, and New Zealand software development overall,” Sayer says.

Partnering with a long-term investor “creates exciting new possibilities for what Medtech can do for medical practice management.

“Under Banyan, Medtech will continue to lead in health tech innovation. We will have the relationships, resources and long-term commitment that ensure we can continue to build better software and offer better support,” he says. 

Banyan Software has a growing footprint in Australia and New Zealand, completing more than 70 acquisitions globally since its founding in 2016. Chief executive David Berkal says he is looking forward to helping Medtech “reach even greater heights”.

“Once we invest in a business, we continue to grow the business for life, never selling it again. Medtech will have support from a global community of software businesses, ensuring it has the resources needed to fuel its continued success,” he says.

Founded in 1989 and headquartered in Auckland, New Zealand, Medtech collaborated with medical centres and healthcare practitioners to develop the country’s first Practice Management System.  

Sayer says Banyan has a proven track record of long-term partnerships with the software companies it invests in. 

“This philosophy aligns with Medtech’s mission to support medical practices in operating at their best today while preparing for the future,” he says.

To comment on or discuss this news story, go to the eHealthNews category on the HiNZ eHealth Forum

You’ve read this article for free, but good journalism takes time and resource to produce. Please consider supporting eHealthNews by becoming a member of HiNZ, for just $17 a month

Read more Sector news

Return to eHealthNews.nz home page