21 Jul 2010

British investor puts $20m into healthcare company

4:05 pm on 21 July 2010

An Auckland-based healthcare company has received a $20 million cash injection from an angel investor in Britain to expand the reach of its specialised programme that helps patients stick to their prescribed course of treatment.

White Cloud Capital is taking a 50% stake in Atlantis Healthcare and a seat on the board in return for $20 million investment.

Atlantis Healthcare helps patients with chronic illnesses such as diabetes manage their treatment themselves, which can save on hospitalisation costs later.

It has 45 programmes running in New Zealand, Australia and Britain

Chief executive Michael Whittaker says the programmes can potentially save millions of dollars and the company will use the cash and White Cloud's expertise to expand into the Middle East and Asia.

Fisher & Paykel founder Gary Paykel will also join the Atantis board.