Infogeni seeks $1m investment

TOM PULLAR-STRECKER
Last updated 05:00 07/02/2013

Relevant offers

Industries

Fresh attack on dolphin deaths based on falsehood, says Seafood NZ Analysts toast F&P Healthcare's success as shares settle above $10 Big banks could ditch exposure to coal projects in five years 90 Seconds' Tim Norton: how Kiwi firms can secure world class investment Almost 10,000 vacant properties in Queenstown Lack of infrastructure holds up new Queenstown homes - developer NZ a land of opportunity for entrepreneur Marian Makkar Jobs secured after Ericsson sells Porirua factory for $5.5m $1 Lamborghini auction from Trade Me rival, but there's a catch Callaghan Innovation boss Mary Quin joins Westpac board

Wellington software company Infogeni is seeking at least $1 million from private investors who see a financial opportunity in improving the co-ordination of aged care.

Infogeni sells an application used by about 25 organisations, including Healthcare New Zealand, Presbyterian Support and iwi, to help manage the provision of services to about 20,000 elderly New Zealanders living at home.

The 10-person company, founded in 2001, claims about 40 per cent of the domestic home care market. Its software can record what services are needed and delivered to the elderly and by whom, and also manage rosters and billing.

"What we are trying to do is apply Kiwi ingenuity" to the aged care crisis, chief executive Mike Sheedy said. "New Zealand and other countries have got this huge problem; people are getting older and how do we look after them more cost-effectively?"

The company will start searching for additional investors in the next few weeks to take its software overseas and add features designed to appeal to retirement-home operators.

Investors could cash in through a possible public listing or trade sale in three to six years.

Infogeni raised $300,000 from friends, family and staff in 2011 and last year appointed former Inland Revenue chief information officer Ross Hughson as chairman.

Governments benefited from helping the elderly stay in their homes as long as possible but that required good services and, therefore, technology, Hughson said.

While technology was not often top of mind among aged-care providers, New Zealand providers were more advanced than many, Sheedy said.

Hughson said Infogeni had got "more than a foothold" in the home care market but the use of technology by retirement-home operators was still relatively immature or fragmented.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content