hTrak strengthens market position through acquisition by Healthlogistics
hTrak Pty Ltd, Australia’s leading supplier of procedure costing and billing solutions has been acquired by Healthlogistics.co.uk Ltd, one of the leading providers of e-procurement solutions to the UK’s National Health Service (NHS).
The companies’ combined product offering will provide both public and private healthcare providers across Australia with a unique end-to-end solution for their e-procurement requirements, enabling them to make significant efficiency, financial and time savings whilst achieving high levels of reductions in stock wastage.
With both organisations already well established in their home markets, through this acquisition customers will benefit from the introduction and easy integration of their services. This means that hospitals and other healthcare providers will be able to obtain accurate procedure costing information for each patient, supported by bar code scanning, contract pricing of consumables, auto-replenishment of stock and full track-and-trace.
Kirk Kikirekov, Managing Director, hTrak said: “Our companies have been established for about the same length of time. We both have fully developed and proven products and we are both at an extremely promising stage of development. In the key area of private patient billing, for example, our customers routinely report 30-40% increased revenue from prosthetics claims alone from their hTrak implementations.”
Because the UK and Australian healthcare markets share many of the same characteristics, the combined solution of the two companies has already been in operation at the Derby Teaching Hospitals NHS Foundation Trust in England since April 2014.
Peter Elwin, joint Managing Director, Healthlogistics said: “We believe that our combined expertise will have a transformational impact by enabling both clinical and business process improvements. Executives of both companies are passionate, committed individuals who want to make a difference, and delivering quality is ultimately the key factor that will provide a sustainable business.”