The Citadel Group Limited (ASX: CGL) announced today that it has entered into a definitive agreement to acquire Charm Health International Pty Ltd and its subsidiaries as part of expanding its e-health offering.
Operating as part of the Citadel Health division, Charm Health will continue to provide its best-of-breed oncology information management system CHARMTM to public and private cancer care facilities both locally and internationally.
Charm Health CEO, Gary Lakin said Charm Health has grown rapidly to support more than 100 sites throughout Australia and New Zealand, using the CHARMTM platform to ensure cancer patients receive the best quality care. CHARMTM delivers proven clinical benefits through increased efficiency, improved safety, improved communication and documentation and comprehensive data capture resulting in increased patient satisfaction.
“In CHARMTM everything is built around the patient, with standardised practice using the best evidence-based procedures, improving the delivery of medical oncology treatment in a complex medical care environment. Becoming part of the Citadel Group is a natural fit for us given they are the leaders in information management in complex environments,” Mr Lakin said.
“Having grown Charm Health to be the leading Australian oncology e-health solution provider, we’re delighted to become part of Citadel to drive the business through its next phase.
“There is a strong cultural fit between the two organisations, and Charm Health’s people and clients will benefit from being part of the innovative Citadel Group,” Mr Lakin said.
For Citadel Group, the Charm Health acquisition expands its e-health offerings.
Stephen Lynch, General Manager of Citadel Health said “Citadel and Charm Health have developed best-in-class capabilities with highly complementary e-health product portfolios. We plan to leverage the best of both companies to improve and cross-pollinate technology and go-to-market strengths. This means we can accelerate innovation resulting in the highest return on investment and solutions that meet the rapidly changing needs of the health sector.”
Citadel’s CEO Darren Stanley said Citadel’s acquisition of Charm Health is strategically aligned with the Group’s ambitions in the growing e-health sector. “We are excited to work with the Charm Health team to deliver even greater innovation and value to our public and private customers as we expand Citadel’s connected e-health programs,” Mr Stanley said.
Citadel Group Executive Deputy Chairman, Dr Miles Jakeman said cancer was a growing and complex area of medicine requiring multiple forms of treatment over increasingly extended periods of time. “Last year alone, there were approximately 130,000 new cancer cases diagnosed in Australia, with new cases expected to grow by 70% globally over the next two decades. CHARMTM is a best-of-breed solution that can help improve care and survival rates, as well as reduce the burden on our health care system,” Dr Jakeman said.
Both the Citadel Group and Charm Health Board of Directors have unanimously approved the acquisition. It is subject to customary conditions precedent, and is expected to complete by mid-September 2017.
For more information about Charm Health, visitwww.charmhealth.com.au.
For more information about Citadel Group, visitwww.citadelgroup.com.au.