Auckland-based health IT company Medtech Global has been acquired by software acquirer Banyan Software from the United States.

Founded in 1989, Medtech claims to develop the first practice management system in New Zealand. It also offers a payment solution and a digital health application integration platform. 

WHY IT MATTERS

Medtech was first sold during the thick of the pandemic in 2020 to Australian private equity firm Advent Partners and Geoffrey Sayer, its current CEO and managing director.

Following this second sale, Sayer will remain CEO; Banyan is also keeping its present senior leadership team. 

"With Banyan, we now have the relationships, resources, and long-term commitment that ensure we can continue to invest in developing Medtech software," Sayer commented about the acquisition.

Banyan, which also operates in London and Canada, is expanding across Australia and New Zealand. The company holds an office in Melbourne. 

THE LARGER TREND

Besides providing practice management software, Medtech also offers health data analytics capabilities through DrInfo, which it acquired in 2021. The population health tool delivers organisations critical insights, including health targets, recalls, and enrolments.

Last year, Medtech enabled radiology reporting to GPs in near real-time. It collaborated with Zed Technologies and private diagnostics company Horizon Radiology to establish the API connection that allows the direct sharing of diagnostic reports to doctors.