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Careteq acquires Home Medicines Review platform


  • Acquisition of first-to-market Home Medicines Review software platform, a marketplace that connects general practitioners (“GPs”) to pharmacists 
  • Expected to be cash flow positive post synergies, and contribute profitability to the Company for FY24
  • Fast-growing adoption with a revenue run rate of $300k p.a., up 200% over the prior corresponding period (pcp)
  • Highly strategic and complementary to existing operations:
     o  with c.400 GPs currently on the platform, Careteq is able to introduce this offering to its network of c.5,000 GPs
     o Ability to introduce and cross-sell Careteq’s assistive living technologies to the expanding home care market

Careteq Limited (ASX: CTQ) (“Careteq”, "CTQ" or “the Company”), an emerging health-tech company with a focus on delivering best in class technology solutions for the health and aged care sector, is pleased to advise it has entered into a binding agreement to acquire the business and assets of New Medical Enterprises Pty Ltd trading as HMR Referrals for total consideration of $250k cash and $250k in ordinary shares at 2.5c per share (“Acquisition”).

For more information, download the attached PDF.

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