| Decision | Consent granted Section 13 Overseas Investment Act 2005 |
|---|---|
| Decision maker | Overseas Investment Office |
| Decision date | 19 October 2018 |
| Investment | An overseas investment in significant business assets only, being the Applicants’ acquisition of rights or interests in 100% of the InterOperability Business and assets and 24.9% of the Healthier Populations Business of Orion Health Group Limited (Orion), for consideration exceeding $100m. |
| Consideration | $225,000,000 |
| Applicants | InterOperability Bidco, Inc. and Healthier Populations Holdco Limited European Public (43.0%) North American Public (40.0%) Middle Eastern Public (17.0%) |
| Vendors | Orchestral Developments Limited and Orion (Grafton) Limited McCrae Limited, New Zealand (49.84%) New Zealand Public (35.79%) G A Cumming, Canada (8.08%) Pioneer Capital Nominees Limited, New Zealand (6.29%) |
| Background | Orion is a global company that develops software for healthcare applications. Orion and its subsidiaries operate the InterOperability Business (IO Business) and the Healthier Populations Business (PHM Business). The IO Business and PHM Business involve the development, production, sales, and support of software services. These services are designed to integrate healthcare environments through the acquisition and exchange of health data, and to connect, consolidate, and structure healthcare information to make it accessible. The Applicants are ultimately wholly owned by HgCapital Mercury 2 Nominees Limited, which is a nominee company for the limited partnerships comprising the fund making the present investment. The fund is widely held and is managed by HgPooled Management Limited, a wholly owned subsidiary of HgCapital LLP. The Applicants intend to use their expertise and market position to grow the InterOperability Business and the Healthier Populations Business by strengthening their positions as technology leaders. The Applicants have satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicants have also demonstrated financial commitment to the investment. |
| More information | John Strowger Chapman Tripp PO Box 2206 AUCKLAND 1140 |
See the attached assessment report linked below, which was published in response to an Official Information Act request: