On a list dominated by US companies, seven local firms are punching well above their weight.
Seven Australian firms have been named on Time’s list of the world’s best healthtechs for 2025, although none of them climbed into the ranks of “outstanding” companies.
Four were classified as “very high” in the health information and management category:
- Lumary – care management software vendor that provides solutions for the disability and aged care sectors.
- Mable – aged and disability care platform owned by US private equity giant General Atlantic that has recently been “exploring capital options”.
- Magentus – developed the cloud-based oncology information system Charm Evolution which was recently approved for electronic prescribing across Australia, and has been listed on the ADHA’s Electronic Prescribing Register for Conformance.
- MedAdvisor – developed an AI assistant program that allows patients 24/7 access to personalised advice and support for medication management.
Harrison.ai, which uses Al to read CT scans and X-rays to support detection and diagnosis of medical conditions, was ranked “very high” in the AI and data analytics category. In January of this year the Australian government invested $32 million into the company to keep it onshore.
Lenexa Medical, which developed LenexaCare, an integrated fabric-based sensor designed to monitor the patient’s position and presence, as well as their high-pressure areas, was rated “very high” in the medical devices and wearables category.
The seventh company, Healthengine, was rated as “high” on Time’s list, in the health information and management category.
The booking platform is an established SaaS technology for primary healthcare. Since 2006, the company has facilitated more than 90 million bookings across GP, dental, specialist, allied health, pharmacy and telehealth services.
Earlier this year it partnered with Magentus to provide new solutions for specialist practices.
Rachael Powell, CEO of Magentus, called it a “proud moment”.
“This is a whole-of-business win that reflects the strength of our platforms, the trust of our customers and partners, and the clarity of our vision and purpose,” she said in a LinkedIn post.
“In a list dominated by large US industry players, we’re especially honoured to be one of just seven Australian companies on the list, and 24 in the UK.
“Everyone at Magentus knows they are part of building something important. Their dedication is the reason the world is also taking notice.”
Time partnered with Statista to conduct a global analysis of companies delivering the most impactful technologies to improve health.
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The companies were ranked on three metrics – financial performance, reputation analysis and online engagement – and classified into categories depending on the service they provide.
“Companies focusing on AI and data analytics – perhaps unsurprisingly – earned the most high-ranking scores, a reflection of the current boom in using health data to improve everything from screening for disease to diagnostics and matching patients to the right treatments that are most likely to lead to the best health outcomes,” said Time.
“The category with the least highest-ranking companies was prevention, an area of medicine that experts widely recognise as important for lowering health costs by helping people to avoid disease in the first place.
“While both private and public insurance providers are required to cover more preventive services, including cancer screenings and immunisations, doctors aren’t rewarded for having the broader discussions about how to prevent chronic diseases, like heart diseases, diabetes, and obesity, at the same rate as they are ordering tests and performing procedures, which could be dampening innovation in the field.”
See the full list here.