Private equity firm takes majority stake in Genie Solutions

Superannuation fund-backed private equity firm IFM Investors has acquired a majority stake in market-leading specialist software vendor Genie Solutions, in a deal thought to be worth over $50 million.

Founded in 1995 by Paul Carr, who led the development of the company until handing over as CEO in November 2015, Genie is the market-leading vendor of clinical, billing and practice management software for medical specialists, with over 3500 sites in Australia.