Telstra buys a stake in Fred IT Group

The acquisition follows several other e-health investments from Telstra

Telstra has taken out a 50 per cent in Fred IT Group, which provides IT services and dispensing software to pharmacies and is part owned by the Pharmacy Guild of Australia.

The acquisition follows several other e-health investments from Telstra, which is looking to build up its health portfolio as part of a strategy to develop new growth businesses.

In August this year, the telco acquired e-health software company Database Consultants Australia in the telco’s first standalone health acquisition.

Telstra recently also completed an investment in electronic health operator IP Health, which provides patient information to medical practitioners on their smartphones and tablets.

In May this year, Telstra and Seven West Media signed a $10.4 million agreement with HealthEngine for a stake in the online health directory business, which allows patients to make GP and dental appointments online and through its mobile app.

“This strategic partnership with Telstra underpins our commitment to providing IT innovation and leadership for pharmacy and pharmacy customers over the long term,” Paul Naismith, Fred IT Group CEO and pharmacist, said in a statement.

“It allows us to continue to invest strongly in e-health and cloud computing, which are vital in improving patient health and safety, creating new ways for pharmacy to service its customers and run its business.”

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