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Regional NSW-based telehealth group Hyphen Health co-founder CEO James Sneddon has bought out fellow co-founder Dr Mitchell Tanner in a move the company says streamlines its leadership team to focus on accelerating business growth.
Hyphen Health, which was founded by Sneddon and Tanner in 2015 and is based at Maitland, has assisted more than 50,000 people since inception via three platforms that deliver discreet services ranging from PrEP (pre-exposure prophylaxis) medicine for HIV prevention, to sexually transmitted infections (STI) and testing for performance-enhancing drugs.
“This is an important milestone as we restructure our cap table to position Hyphen Health for growth and agility,” says Sneddon, who notes the buyout of Tanner’s stake in the company has been undertaken on amicable terms.
“I deeply appreciate Dr Tanner’s foundational contributions and look forward to leading Hyphen Health into its next phase, with an intensified focus on innovation, strategic partnerships, and expanding access to sexual health for all," says Sneddon, a finalist in the upcoming 2024 Australian Young Entrepreneur Awards.
Among its immediate plans, Hyphen Health is seeking out merger and acquisition opportunities, with a restructured capitalisation that Sneddon says has been designed to enhance the team’s capabilities and allow the business to scale rapidly.
Tanner, a medical practitioner, founded Hyphen Health with Sneddon, a rugby-playing accountant and entrepreneur, with a mission to make sexual health available to Australians who like to avoid awkward face-to-face doctor visits.
Roidsafe is the newest platform launched by Hyphen Health which the company says is a “game-changing world first” by delivering a harm minimisation service for the steroid, sport and hormone community.
The business is understood to have achieved almost 100 per cent revenue growth over the past year with its platforms now supporting more than 4,000 patients a month.
Hyphen Health has become Australia’s largest sexual health service, offering nationwide accessibility to STI testing, sexual health services and comprehensive online support.
“It’s been a wild decade, and Mitchell has been an amazing partner,” says Sneddon, reflecting on the early roots of the business.
“While this transition is the best thing for Mitchell, the business, and myself, I’m deeply grateful for our partnership and friendship.
“We pioneered an industry, set standards, turned heads, sparked conversations, and made an impact. We’ve overcome many challenges to reach where we are today, and I couldn’t be prouder of what we’ve built together.”
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