OneVentures team ‘charmed’ by Queensland Health-IT company
11 April 2013
Venture capital fund OneVentures has closed a significant investment in Charm Health Pty Ltd (charmhealth), a Brisbane-based developer and supplier of specialist oncology electronic medical record and clinical information systems.
OneVentures Partner Anne-Marie Birkill, who has been tracking Charm for seven years, said “When charmhealth went to market seeking growth capital OneVentures took the opportunity to invest in a company at growth stage and operating in the rapidly expanding Health-IT sector.
“charmhealth is among the first of a wave of software solutions that will transform healthcare by introducing new efficiencies that improve patient outcomes and the economics and efficiency of healthcare delivery,” she said.
Cancer incidence is rising dramatically in both developed and emerging economies and has become one of the most expensive and fragmented diseases for health systems to manage.
charmhealth’s flagship product CHARM™, is an Oncology Information Management Solution for cancer care clinical coordination and management.
It offers a pathway, best practice based, complete cancer treatment management solution in one package that integrates with other applications in the public and private healthcare systems to support clinicians with patient care. This includes prescriptions, radiology, chemotherapy, and transplant support within a single patient-centric electronic medical record that can be shared across facilities.
Ms Birkill will join Dr Paul Kelly, another OneVentures Partner, on the charmhealth Board alongside Founder Janine Garrett and Chairman Ken Smith. Dr Kelly is an experienced life sciences entrepreneur, executive and specialist physician.
“charmhealth has developed a leading pathway based product that addresses a significant market need in healthcare; the efficient, outcomes driven and cost effective integration of patient care when that care is provided by multidisciplinary healthcare professionals in both an inpatient and outpatient setting,” Dr Kelly said.
“Further product development will address in the increasing burden of inpatient and ambulatory care in other chronic diseases and in aged care.”
charmhealth CEO Mark Wild said the addition of OneVentures was a vital step in the evolution and growth of the company.
“We have made substantial investment in developing our new product range over the past three years and OneVentures joins us at an exciting time of expansion in both our customer base and market,” he said.
“OneVentures brings not only a depth of professional and commercial capability but also a deep appreciation of the healthcare market.”
CHARM™ is deployed at a growing number of private and public health facilities in Australia including Queensland’s Mater Health, the Peter MacCallum Cancer Centre in Victoria and the Royal North Shore Hospital in NSW.
charmhealth is currently developing a second suite of products that will allow expansion beyond oncology to address the broader chronic disease care market.
The Next Generation CHARM™ product will provide a comprehensive, unified electronic medical record (EMR) that supports the accurate and efficient creation of treatment orders; facilitates and streamlines patient bookings for treatment; and supports the manufacture, purchase, prescribing and administration of medicines.
It also provides advanced clinical decision support, an intuitive user interface and effective tools to enhance the collection and sharing of information across the continuum of care.
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OneVentures is a venture capital firm that invests in emerging Australian technology companies with true breakout potential, differentiated technology and compelling business models in the clean technology, information technology and life sciences sectors.
OneVentures is managed by a team of partners with a skills set and track record ideally suited to collaboration with entrepreneurial management teams to foster growth and create value: a unique blend of highly successful entrepreneurs, technology business founders and corporate executives with a strong scientific pedigree, extensive off-shore experience and networks.
The OneVentures Innovation Fund is a $40 million venture capital fund formed as an Early Stage Venture Capital Limited Partnership. OneVentures is supported by the Australian Government through the IIF program with this funding matched by institutional investors, individual high net worth investors and family offices. The IIF is an Australian Government venture capital initiative that provides investment capital and managerial expertise through licensed venture capital fund managers to investee companies.