New Zealand Atlantis Healthcare Sells 50% Stake To UK Private Equity Fund
20 July, 2010, Dow Jones Newswires
WELLINGTON -(Dow Jones)- New Zealand healthcare company Atlantis Healthcare said Tuesday it had sold a 50% stake in the company for NZ$20 million to UK-based private-equity company White Cloud Capital.
Atlantis Healthcare Chief Executive Michael Whittaker said the money would enable the privately owned company to continue expanding into new markets.
"As a company we've grown 30%-40% over the last four years. We see a huge opportunity (in this partnership) at a point in time when we need to be in a number of new markets," he said.
Whittaker said while the company needed a partner for capital, it believed it would benefit from White Cloud Capital's Northern Hemisphere connections and its guidance.
Atlantis Healthcare owns and develops software for the healthcare industry and is currently operating in nine markets.
