Our investment in Medtech Global
MedTech is a leading SaaS provider of Practice Management Software for general practitioners and medical specialists across New Zealand and Australia. MedTech plays a critical role in digitising the clinical and administrative workflows of primary care providers.
The Opportunity
Advent saw the opportunity to transform MedTech from a legacy software provider into a modern SaaS platform with integrated payments functionality and improved commercial performance. The strategy centred on replatforming, expanding the product suite, and professionalising the business to support growth across Australasia.
To support this vision, Advent implemented several foundational initiatives. A high-performing executive team was built, including the appointment of a new CFO, CIO, GM of Integrations and GM of People & Culture. Governance structures were enhanced through the introduction of a formal board and robust performance reporting.
During its investment, Advent championed product innovation, with the launch of a new integrated payments solution that provided material upsell opportunities. Functionality was also introduced to better support third-party integrations, broadening MedTech’s ecosystem and revenue streams.
Demonstrated Impact
Under Advent’s ownership, MedTech delivered strong performance improvements across commercial, operational, and product dimensions. Key outcomes included:
- Revenue doubled over the investment period, reflecting both product expansion and improved pricing strategy
- Market leading net revenue retention underscoring strong customer engagement and upsell success
- The business maintained a Rule of 40 performance of 65%, balancing growth with operating leverage
- A new integrated payments solution was launched, unlocking new monetisation opportunities
- Functionality was developed to support better third-party integration and marketplace monetisation
- A new tiered pricing model was implemented, improving unit economics and aligning value with cost
- A high-performing executive team was recruited, bringing structure, capability, and leadership to the organisation
These strategic initiatives positioned MedTech as a modern, competitive player in the healthcare software sector with an expanding feature set and sustainable commercial model.
Exit
Advent exited MedTech in 2025 via a sale to Banyan Software. The transaction followed a targeted, strategic process supported by Advent’s active involvement in exit preparation and positioning. Under Banyan’s ownership, MedTech is well-positioned to continue its growth trajectory and take further market share.
