Pulse+IT collectively choked on its early winter porridge this week when we read an edition of the Australian Financial Review’s Street Talk column which touted the sale of general practice management system vendor MedicalDirector by its private equity owners for the astoundingly silly sum of $500 million.
As we have noted before, anyone seriously considering that sort of money for a middle-sized Australian medical software firm needs to have their heads read. The Fin was quoting $300m three years ago and we hear this is closer to what is being asked for today, but it is still a highly optimistic valuation for a company that is not really going anywhere in a hurry.
