Australian Healthcare to buy NZ-based MedTech

Perth-based Australian Healthcare Technology Ltd has agreed to purchase Auckland-based MedTech Global Ltd, a provider of information technology products for the healthcare industry.

Australian Healthcare's view is the purchase will increase the scale of the company's operations, ultimately improving the company's competitiveness and enhance growth prospects.

Australian Healthcare said the acquisition would provide greater depth in management, product development and support services and would enable provision of enhanced product range to a significantly expanded combined customer basis on a lower cost per unit basis.

The company will issue 2.25 times its current issued capital in shares to the vendors of MedTech as consideration for the purchase with an Information Memorandum to be available early in 2006.

MedTech provides healthcare software to approximately 11,000 users in New Zealand and Australia and is in the process of expanding into Asia.