Yet another vote of confidence in the future of aged care.
Australian diversified alternative asset management company Tanarra Capital has acquired a majority stake in software developer Health Metrics.
Founded by CEO Steven Strange (pictured above) and Lisa Papettas in 2008, Health Metrics now has more than 170 customers in residential care facilities, retirement villages, home care, disability care and nursing homes. primary health care in Australia and New Zealand.
Steven and Lisa will retain a stake in the business and continue to lead the business, while Hani Fayed, senior data scientist at Tanarra, will help Health Metrics drive the use of data and analytics to improve client outcomes.
“I am very happy to have a partner with the strength of Tanarra who supports our vision”, Steven said. “This will give us the impetus to accelerate our plans for growth in an entirely new area of solutions and support for the healthcare and social care industry. Our goal is to be the undisputed market leader in a sector that needs what we provide more than ever.
Tanarra was founded by top investment banker John Wylie and now has $1.7 billion in assets under management in private equity, private credit, venture capital and some strategic corporate investments. including dairy company Barambah Organics and workforce management software group INX Software.
Health Metrics represents its fourth private equity investment under its current tenure and was led by Maja Sliwinski and David Wright of Tanarra.
“We were actively looking to invest in the space and we are excited to invest in the best technology,” said Ms Sliwinski.