Leading Canadian wireless service provider, TELUS Corporation is reportedly investing in heath care based software providing company, Get Real Health. Given the opportunities in the health care technology industry, which is expected to grow around $250 billion by 2015 according to the World Bank, we believe the current investment bodes well for Telus’ long-term growth.
The investment is also likely to support Get Real Health’s product development goal and addition of features to InstantPHR – its current health care software. Further, Get Real Health is also looking forward to utilize the new funding for marketing and sales initiatives, enter into tie-ups to increase market penetration and offer more integrated health care technology solutions.
For Telus, the new investment would provide the company with a diversification opportunity from a highly competitive domestic wireless market, aggravated by the likelihood of Verizon Communications Inc. entering the Canadian market.
Previously, Telus took a significant step towards establishing itself in the Canadian health care telecom market through its acquisition of Emergis, a business process outsourcer specializing in health care and financial services. This acquisition strengthened Telus’ industry solutions for health care and financial services.
Apart from health care, the company also acquiredToronto-based Fastvibe Corporation, a leading provider of innovative and superior quality Web streaming solutions for businesses. The buyout added a unique technical, event and production Web management capability to the company’s portfolio.
Telus, which operates with other Canadian peers – BCE, Inc. and RogersCommunications Inc. – has a Zacks Rank #3 (Hold).