AUSTRALIAN pharmacy management software provider, Z Software, has been acquired by private equity firm, Acclivis Group.
Acclivis, led by former Telstra executive, Geoffrey Sayer, completed the transaction for an undisclosed fee over the weekend, the Australian Financial Review (AFR) has reported.
Z Software, which was previously known as DispenseIT, was developed by pharmacist, John Le, and two software engineers, in 2013.
Since its inception, Z Software has grown to offer register, dispense and back office platforms, which are operating in more than 1,000 pharmacies nationwide.
"We think it's a good business; it has good tech supporting its customers," Sayer told the AFR.
"But we think there's more we can do to help pharmacists in the primary care ecosystem; how they interact with aged care facilities, people home care, the way medicines are funded, and the like."
Under the terms of the deal Le is set to continue to run the business, with Sayer being named as Z Software's new Chair.
Sayer has previous experience in the pharmacy IT space, as managing director of Toniq, New Zealand's largest pharmacy software business.
The Z Software takeover follows Acclivis' acquisition of a stake in New Zealand-based GP practice management software group, Medtech Global, last year, and the Kiwi GP audit and health management tool Dr Info.
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