Just as we where about to see Genie Solutions debut on the Australian Stock Market (ASX), The Citadel Groups, Pacific Equity Partners (PEP) has made a bid higher than the expected IPO price to purchase the Medical Practice Software Management business.
Genie Solutions have been providing Medical Practice Management Solutions to Australian Medical Specialists for over 20 years. It is estimated that Genie Software currently has at least 50% of the specialist medical software market.
Genie was founded alongside PIPs Internet services in 1995, by Dr Paul Carr. Dr Carr, a General Practitioner in Bundaberg, frustrated by the lack of Apple Mac supported Medical Software in Australia lead him to develop his own. In 2015 Dr Carr, stepped down from the CEO role of Genie after 20 years at the helm.
During this time PIP has been providing direct and indirect support to Genie users. Both on-premises and since the turn of the century in PIPs private cloud or more recently the optional Microsoft AZURE public cloud infrastructure.
It is envisaged that the acquisition of Genie by PEP will not impact any Genie Medical Practices or the support of hosting of Genie PIP provides. PEP are an Australian based Private Markets Fund Manager, established in 1998. Their expertise in management should provide an excellent partnership with the excellent team at Genie.
Its great to see Australians investing in Australians and PIP will continue to provide the support and ease of use to these systems into the future.