UBS AG advised Genesis Care, which had earnings before interest, tax, depreciation and amortization of 60 million Australian dollars (US$60.3 million) in the most recent fiscal year. Record Point provided financial advice to KKR. The deal was agreed at a multiple of around 10 times forward earnings and KKR will take a stake of more than 60%, one of the persons said. Healthcare has proved to be a bright spot for private equity, which has struggled to complete deals in other sectors like retail in recent months. In 2010, TPG Inc. and Carlyle Group acquired hospital operator Healthscope in a deal that valued the company at A$2.7 billion dollars. That was followed by Archer Capitals purchase of private hospital operator Healthe Care last year. Driving these deals is the increasing sums that Australians require to stay healthy. According to March figures from the Australian government, real total health spending per capita was A$5,479 in the 2009-2010 fiscal year, up from A$4,710 just four years earlier. Moreover, citizens aged over 65 spend more on their health than those in their twenties. Thats significant as the World Health Organization predicts the number of Australians aged 65 years or more will increase from 3 million in 2010 to 8.1 million in 2050, when they will represent just under a quarter of the total population.
Telstra invests in electronic health record specialists IP Health
IP Health CEO, Ashley Renner, said the Verdi solution enables doctors to access and update patient information and treatments, greatly reducing risks and improving response times. Many doctors are called upon out-of-hours to respond to patient needs. Verdi enables those doctors to have the patients full history at their fingertips. This means that if a doctor is called at home for an emergency they could monitor a live read of a patients ECG on their iPad, cross check their pathology results from a number of laboratories and make a recommendation to the nurse on call. Having this information on hand means that more accurate decisions can be made more quickly and at the end of the day that saves lives, Mr Renner said. There are currently more than 5000 clinicians using Verdi at the Peter MacCallum Cancer Centre and satellites in Victoria, and the Mater Hospital group in Queensland. Director, Division of Cancer Medicine at the Peter MacCallum Cancer Centre in Melbourne, Professor John Zalcberg, OAM, said that Verdi made life much easier and saved time for busy clinicians using the medical record to monitor their patients. Everything is available and trackable. We also know who has looked at what record when, which is important in terms of clinical trials and maintaining confidentiality and privacy. The Telstra Health Solutions Clinical Workbench, powered by Verdi is currently available to all hospitals in Australia. — End — About IP Health IP Health is an electronic medical records specialist with over 20 years experience helping hospitals access patient records when and where required. Verdi is the latest version of their interactive and updatable software, built with clinicians for clinicians. About Telstra Ventures Telstra Ventures invests in breakthrough companies that are strategically important to Telstra. Its investment strategy focuses on high growth opportunities that offer technology and solutions which leverage Telstras assets and enable Telstra to offer new products and services to its customers.