Telstra and media group Seven West Media will invest A$10.4 million ($10.49 million) in Australian online healthcare directory site HealthEngine.
Telstra said both parties will each invest A$5.2 million ($5.2 million) through a combination of cash and value-in-kind to secure a significant stake in HealthEngine.
Telstra's media group managing director Rick Ellis said the HealthEngine investment fits the company’s strategy of developing new growth businesses and providing and growing capability in mobile health and e-health.
“This investment fits with both our Sensis digital marketing services business and Telstra Health, our new health business unit. HealthEngine will be an important asset as we build capability in this area,” Ellis said.
It will also enable Telstra to tap the country’s growing healthcare market, a sector that generates annual revenue of more than A$100 billion.
This demand is highlighted in a recent Roy Morgan survey of Australians over the age of 14 years which found that 27% (or more than 5 million Australians) had paid for a doctor’s visit in the last four weeks and 35% (or more than 6 million Australians) considered the internet the most useful source for health-related information.
HealthEngine is Australia’s largest online health directory and includes appointment booking service Open Appointments. Healthengine.com.au receives around 450,000 unique visitors each month.
Under the deal, Telstra Global will provide a fully managed MPLS solution to Braemar Shipping Services. The commercial terms were not disclosed.
Implementation is expected to be completed in the next six months and when fully rolled out will span the entire Braemar network including Asian, European and Australian sites, Telstra Global said.