The Citadel Group has closed its acquisition of medical practice management software vendor Genie Solutions to bolster its own health software portfolio.
Acquired for an unknown sum following the initial acquisition announcement in October last year, the Canberra-based IT services provider claims Genie’s products are used by 65 per cent of medical specialists across Australia, as well as also being used in countries across Oceania, Asia, Europe and the UK.
ARN understands that Genie's entire workforce of approximately 160 employees will make the transition to the new ownership.
Citadel also said that bringing Genie under its roof was "the first time such world-class clinical diagnostics, treatment and practice management software has all been brought together”.
The company anticipates the move will provide medical professionals with faster access to data, therefore allowing more time for patient care.
Previously, Citadel acquired healthcare software-as-a-service vendor Anaesthetic Private Practice in an all-cash deal worth around $2 million back in April 2018.
“We are thrilled to welcome the Genie team and their customers to The Citadel Group. We identified a strong alignment in our values and our patient-centred approaches to innovative health data management," said Citadel CEO Mark McConnell.
“This strategic acquisition means we are now a genuinely integrated health tech business with market leading best of breed software across primary and secondary care.
"We see significant opportunities to combine our offerings to provide medical practitioners with the tools to create efficiencies and improved diagnostics via an integrated approach.
“With a clear strategy for increasing the scale of investment and pace of innovation, we are proud to be an Australian health tech company taking our market leading products global.”
Meanwhile, Genie CEO James Scollay said Citadel is set to be “a great home” for the software vendor.
“We are excited by the opportunities that the combined business can create. Like Genie, Citadel prioritises the improvement of health outcomes and securely manages critical data and systems so that medical professionals can focus on their patients,” he added.