Medtech Global expands into lucrative American market

Auckland November 3 2015: The New Zealand designed internet portal “Manage My Health” is about to be expanded through the United States following the 100% acquisition of Consova Corporation by healthcare technology solutions company Medtech Global (ASX: MDG).

Vino Ramayah, executive chairman of Medtech Global, says Manage My Health has already been trialled and customised for the US market.

“Consova has well established relationships with large US healthcare organisations like Kaiser Permanente and Cigna and it also provides solutions and services to major employers, some of whom are Fortune 500 companies in respect to health benefits management,” Mr Ramayah says.

Kaiser Permantente serves 10.1 million members in the US and had 2014 operation revenues of US$56.4 billion (around NZ$83.03 billion). Cigna, which has 14.5 million medical customers around the world, was ranked 97th on the 2014 Fortune 500 list.

The acquisition sees Medtech Holdings USA acquire all the minority shares in Consova completing 100% acquisition and folding the US company into Medtech as a wholly owned subsidiary. Medtech Global is funding the acquisition for a confidential sum from its own resources.

“With offices in Denver, Colorado and Nashville in Tennessee, Consova gives us immediate access to emerging healthcare innovation centres,” Mr Ramayah says. “It provides us with an exciting platform for growth in the largest healthcare market in the world.”

Manage My Health was created in Auckland and is being progressively rolled out in many general practices in New Zealand and Australia, especially the large number that also use Medtech’s practice management systems “Medtech 32” and its replacement “Evolution”.

The secure internet portal is a bit like online banking is to financial accessibility. Manage My Health allows people to access and maintain their own medical records, book appointments, request repeat prescriptions and view latest lab results online – even via their smart phones. Clinicians can communicate with patients online and securely share patient medical information with after hours, emergency and other primary care clinicians.

Mr Ramayah will lead a team of veteran industry experts at Consova as its interim CEO and Chairman.