28/05/2012 - 15:54

Perth investors back Azure Healthcare

28/05/2012 - 15:54

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Perth investors back Azure Healthcare

Perth-based technology entrepreneur Nathan Buzza is among a group of investors supporting medical technology business Azure Healthcare, formerly TSV Holdings.

Mr Buzza has teamed up with Azure’s chairman Robert Grey and Rewards Minerals director Michael Ruane to back the company’s $2 million rights issue by taking up the 35 per cent shortfall.

Mr Buzza, a former winner of WA Business News’ 40under40 awards, was the founder of clinical middleware provider CommtechWireless, which was acquired in 2008 by US company Amcom Software.     

Azure will use the proceeds to expand its research and development programme.

Mr Buzza said he was happy to be a cornerstone investor in the company, which includes the Austco suite of hospital products.  

“The Austco business has been operational for over twenty five years and has over 6,000 healthcare sites utilising their nursecall systems globally,” he said.

“Coupled with the additional $1.37 million of fundingfor R&D, with the 45% rebate provided by R&D Tax Incentive, the company is well positioned to capitalise on Clinical Workflow integrations.”

Azure has signed seven contracts in excess of $1.01 million each for its nurse call products.

One of the products is being installed at the Fiona Stanley Hospital in Perth and one in the Canberra Hospital in the Australian Capital Territory. 

Azure Healthcare shares added 3.57% to close at 2.9c.

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