Fairfax Media makes strategic investment in HealthShare

Fairfax Media makes strategic investment in HealthShare

Press Release — November, 2013.

Fairfax Media Limited [ASX:FXJ] Digital Ventures division has acquired a minority interest in Sydney-based digital health services company HealthShare.

HealthShare.com.au, founded in 2010, is an easy to use digital health platform connecting people to trusted and reliable health information and services. The platform can be used to find healthcare practitioners and make appointments. Already more than 1.5 million Australians have used HealthShare to improve their health outcomes.

HealthShare has also developed a range of information products and content for General Practitioners (GPs) to use. HealthShare’s applications integrate into GPs’ clinical desktop software and provide them access to quality health content and information that can be passed on to patients at the time of consultation.

HealthShare has partnerships in place with more than 100 of Australia’s leading healthcare organisations, including not-for-profits, pharmaceutical and medical device companies.

Guy Reypert, Group Director, Fairfax Digital Ventures, said: “Our investment strategy is focused on identifying high-potential digital growth opportunities in sectors ripe for digital disruption, and that can benefit from Fairfax’s strengths and capabilities. This strategic investment in HealthShare gives us exposure to the large and fast-growing health sector, which accounts for around 10 per cent of Australia’s GDP.

“HealthShare’s outstanding team has built innovative digital products that have the ability to improve the healthcare experience and health of consumers, as well as add value for health practitioners and health marketers. We look forward to working with HealthShare to accelerate the growth of the business.”

HealthShare Chairman, Gavin Solsky, said: “The investment by Fairfax will allow us to fast-track the development and launch of a number of new innovative products targeting improved health outcomes for Australians, and the efficient and effective delivery of healthcare information and services. We are delighted to be partnering with Fairfax Digital Ventures and welcome Guy Reypert to our Board.”

HealthShare remains majority-owned by the company’s Board and management who have a proven track record in building technology and healthcare businesses. The Board includes the current CEO of MYOB, Tim Reed, and former CEO of Medical Imaging Australia and audiology group National Hearing Care, Paul Mirabelle, as Non-executive Directors. Alex Stewart, former Chief Operating Officer of NineMSN and long-serving executive at Microsoft, is HealthShare’s Chief Executive Officer.