Australia Startup HealthEngine Nets $10.4 Million Investment

5-13-2013 9-30-31 PM

Australian startup HealthEngine announces that it has secured a $10.4 million investment led by media giant Telstra and Seven West Media. HealthEngine was founded in 2006 as an online directory of providers within Australia, but in 2012 the startup realigned its business model to begin coordinating appointments for patients, much like ZocDoc in the US.

HealthEngine charges a small, upfront annual fee to practices to be listed on the service to receive online appointments. Practices will also pay a pre-negotiated commission for every appointment booked throughout the year. With 450,000 unique visitors per month, the business model has the potential to generate a considerable profit.

The startup raised $1 million from angel investors in 2012. Telstra and Seven West Media will assume a significant but undisclosed ownership percentage as part of their investment.

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