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Healthcare technology group Magentus expects to appeal to a broader range of labs after the acquisition of fellow Melbourne-based software solutions provider Labflow for an undisclosed sum, adding a new suite of pathology-focused solutions to its existing platform.
Founder-led Labflow will add another 20 team members to Magentus' 800-strong employee base worldwide, which has grown significantly since it was acquired by Sydney's Pacific Equity Partners (PEP) for around $500 milllion in 2020, now with offices in Melbourne, London and Manchester.
Founded by Mark McConnell in 2007, Magentus was originally known as Citadel Health, but its name was changed in 2023 a couple of years after further acquisitions of UK-based radiology and maternity software company Wellbeing Software and Australian medical specialist practice management software provider Genie Solutions.
Incubated and backed by venture studio Equinox Ventures, Labflow was founded in the same year that PEP took over Magentus' predecessor, and continues to be led by its co-founders Ben Richardson and Brendan White as CEO and COO respectively.
The younger company already has a presence in Australia and India following the 2024 opening of its Chennai office, along with deployments underway in Malaysia and Singapore.
When combined with Magentus' laboratory information management system (LIMS) Evolution vLab, the group believes Labflow's software creates a 'unified pathology ecosystem that supports high-volume networks, smaller labs, and emerging markets across Australia, New Zealand, the UK, and South and Southeast Asia'.
"This is a pivotal moment for Magentus and for pathology providers globally," says Magentus chief strategy officer Martin Hayden.
"Labflow’s modular innovation and proven interoperability unlock new opportunities for us to serve a broader spectrum of labs, from national networks to smaller agile providers, while accelerating our mission to deliver smarter, safer, and more connected care."
It is expected that Labflow's flexible architecture allow Magentus to enter new markets more quickly, and offer tailored solutions that meet local needs and scale with demand.
"Joining Magentus allows us to amplify our impact," says Labflow CEO and co-founder Ben Richardson.
"Together, we’re building a modular, future-ready pathology platform that combines speed, configurability, and clinical insight, helping labs embrace the future to deliver faster results, reduce admin burden, and improve patient outcomes," Richardson adds.
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