Telstra and Seven West Media have agreed to enter into a $10.4 million Telstra and Seven West Media will each invest $5.2 million through a combination of cash and value-inkind to secure a significant stake in the business.
HealthEngine is Australia’s largest online health directory and includes appointment booking service Open Appointments. HealthEngine.com.au receives more than 450,000 unique visitors each month. To date, the open appointments service has offered 600,000 health appointments with more than 2,000 practitioners at 400 health practices across Australia. Patients are able to make appointments 24/7 online or via HealthEngine’s popular mobile app.
Telstra and Seven West Media believe HealthEngine is well-placed to capitalise on the growing demand for healthcare in Australia – a sector that generates annual revenue of $100 billion. This demand is highlighted in a recent Roy Morgan survey of Australians over the age of 14 years which found that 27 percent (or more than five million Australians) considered the internet the most useful source for health-related info.*
Telstra Media Group Managing Director Rick Ellis said the HealthEngine investment aligned with Telstra’s strategy of developing new growth businesses and providing and growing capability in mHealth and eHealth.
“This investment fits with both our Sensis digital marketing services and Telstra Health, our new health business unit. HealthEngine will be an important asset as we build capability in this said,” said Mr Ellis. The new partnership will help HealthEngine accelerate its growth and take a clear leadership position in the market at a time when consumers look to online and mobile booking solutions.”
“Seven West Media Group Chief Operating Officer Rohan Lund said the investment aligned with its strategy of building an audience company and investing in adjacent verticals relevant to Seven West Media’s audiences.
“We see a tremendous opportunity to partner with Telstra to build Australia’s biggest patient and practitioner marketplace. This is an exciting space and the combination with Telstra and Seven West Media presents a formidable alliance,” said Mr Lund.
HealthEngine CEO Dr Marcus Tan welcomed the investment by Telstra and Seven West Media and said it would enable the company to grow more quickly.
“Our current customer focus is GPs and dentists and we have plans to expand into the allied health and medical specialist sectors,” said Dr Tan.
“This strategic partnership with Telstra and Seven West Media will position us strongly for growth into the emerging electronic health records, online health transactions and telehealth markets as a leading eHealth business in Australia.”
*Source: Roy Morgan Single Source, January – December 2012
