Sláinte adopts a patient approach

Sláinte Healthcare was established in 2006 and through its Vitro and Claimsure processes has seen turnover increase by more than 1,600%. Now it is eyeing a US launch, writes Trish Dromey.

The international launch of an innovative electronic patient chart has helped Dublin company Sláinte Healthcare increase its turnover by more than 1,600% over the last five years.

Nominated in the emerging category for this year’s Ernst & Young Entrepreneur of the Year award, Sláinte has set up sales offices in Australia, the Middle East, and Brazil, and is preparing for a US launch later in the year. Employing a staff of 110, the company is currently recruiting an additional 30.

Chief executive and founder Andrew Murphy says success in international markets has come about through the development of Vitro, an intelligent paperless patient record.

“The advantages are that it captures data electronically and reduces the risks that were associated with the use of paper,” says Mr Murphy, explaining that it combines the familiarity and flexibility associated with paper with the benefits of an electronic solution.

Established in 2006, Sláinte started out with a health-insurance claims processing software product. Previously a plant manager at Henkel, Mr Murphy identified a gap in the market while studying for an MBA.

Supported by Enterprise Ireland — which identifies sláinte as a high-potential start-up — the company developed the Claimsure software solution and launched it in 2008.

Six years on, this is used in 40 hospitals in Ireland and some in the UK.

“Now over €1bn worth of claims are being processed annually through our systems. We are working in partnership with the HSE to roll out this product to hospitals throughout the country,” Mr Murphy says.

As the company was developing sales in Ireland and exploring international markets in 2008, Mr Murphy realised there was a gap in the market for an easy-to-use electronic patient record system.

“We found that very little clinical information was being captured electronically. We talked to nurses, doctors, and hospital administrators and discovered that paper charts were still being very widely used,” he says.

“Our solution was to develop a product which looks like paper, is familiar, easy to navigate, easy to update, and you can draw on it.”

While continuing to develop sales of Claimsure in Ireland, Sláinte invested in R&D and launched Vitro in 2011. The company set up a sales office in Australia, where it secured a contract to supply its electronic patient chart solution to a medical organisation with 24 sites.

In 2013, Sláinte won a contract in Abu Dhabi with a healthcare company with 11 hospitals. “We are still in rollout mode and have this year set up a sales office in Sao Paulo in Brazil where we now have one client, a large private healthcare company.”

At present, the Vitro solution has been installed in around 40 hospital sites and the company aims to increase this to 100 by the end of 2015.

Around 85 of its employees are based at its headquarters in Sandyford while the remainder are employed at offices in Australia, the Middle East, the UK, and Brazil, while the company also has some technical staff based in the Philippines.

This year, Sláinte agreed to provide its Vitro solution free of charge to Operation Smile — a charitable organisation with operations in 65 countries. Mr Murphy says: “This will be our largest implementation to date and will be very significant for us.”

At this point, 60% of Sláinte’s income comes from Vitro and he expects this to increase as the company develops global markets. “At present, sales are growing by 100% a year and we are targeting a turnover of €100m within four to five years.”

The US market is expected to be significant for the company, which is now working on a cloud-based version of Vitro for the launch there. Mr Murphy is in the process of selecting a location for the Sláinte US office.

This year, Sláinte secured investment from the AIB Start-Up Fund, to help international growth. Mr Murphy says: “In 2015 we plan to start selling in Europe and we also want to develop a strategy for the African market. We also see scope and opportunities in Asia.”

In 2013, Sláinte Healthcare was ranked third in Deloitte’s 50 fastest growing companies for 2013 and ranked in the top 100 of the Technology Fast 500 EMEA 2013. “We are now the fastest growing healthcare technology company in Europe,” Mr Murphy said.