20 February 2025
Advent is pleased to announce the successful sale of MedTech Global (MedTech), a leading provider of Practice Management Software (PMS) for general practitioners and medical specialists across New Zealand and Australia, to Banyan Software, a US-based acquirer of enterprise software businesses.
This transaction marks a significant milestone in MedTech’s transformation journey, as it partners with Banyan Software to accelerate its growth and innovation across the ANZ region.
When Advent invested in MedTech, the vision was to modernise the Business into a scalable SaaS platform, with a strong customer focus and a broadened product offering. This vision has been realised by accelerating the migration of sites onto MedTech’s leading Evolution product, the launch of a new integrated payments solution and secure integration layer and substantially improving staff and customer satisfaction.
Under Advent’s ownership, MedTech’s revenue doubled, and the company achieved strong growth combined with disciplined operational efficiency.
The exit concludes a successful investment for Advent Partners, supported by a targeted and strategic sale process.
Advisors to Advent on the transaction included Allier Capital, Herbert Smith Freehills, PwC and L.E.K. Consulting.
Geoff Sayer, CEO and Investment Partner of MedTech stated “Advent has been a steady and thoughtful partner during a key phase of MedTech’s evolution. With their support, we’ve made solid progress modernising the platform, broadening our capabilities, and strengthening the team for the future. Their guidance through the exit process was also valuable, helping to position the business for its next chapter with Banyan.”
For any further information, please contact Rob Hooke, Robert Radcliffe-Smith, or Hesh Dantanarayana on +61 3 9690 9566.
