Unley software company Power Solutions plans to treble its turnover in the next few years with an assault on the US health-care market.
Director Patrick Power said the company's rapid expansion over the past two years – from $600,000 a year to $2.5 million and from five staff to 25 – would be dwarfed as the company took advantage of opportunities in the US.
Mr Power said turnover should double to $5 million in two years based on the company's Australian business – and the US market would provide even faster growth. Power Solutions' software allows hospitals to track the cost of patient care and identify cost-saving opportunities.
It enables hospitals to retrospectively analyze and dissect their business, Mr Power said.
It's a decision-support tool, it provides information to drive decision making, rather than doing it on a gut feel.
After selling their flagship product, PowerCost Manager, to Australia's largest hospitals, the company looked overseas.
Co-director Paul Venables said the US market was at least 10 times larger than Australia's.
Power Solutions decided just a year ago to test interest in the US, aided by the State Government's Centre for Innovation, Business and Manufacturing.
It won two contracts and then in September, 2003, established an office in the US.
It has formed a partnership with US health-care consulting company ISH, which will help it set up distribution channels.
Mr Power said the partnership has provided access to ISH's 3000-strong customer base.
It has also secured Power Solutions a prime position at the main US health conference in Orlando, Florida, next month which will be attended by about 20,000 people.
For more information
To arrange an interview with Mr Patrick Power or Mr Paul Venables, please call Ms Theen Moy on +61-419-820-958.
