Since 2004, Polonious have been engaged, providing assistance to IMAN Australia as they grew from a small member base to 10,000+ today. The bottom line to t
his is a revenue growth towards 20 Million and a 10% profitability. This all at the same time growing at a compound rate of 20% per annum.
IMAN’s original owner John Braithwaite provided this impetus. A great management team was in place to back up his thinking. Polonious provided the IT muscle to enable John’s team to test the market with new initiatives on a regular basis. Compared to his competitors such as Medibank Private, John ran in ‘startup mode’ through his whole tenure at IMAN.
When John engaged Polonious, he had a number of business problems to solve. These included:
- Ensuring his growth in sales outstripped his growth in administration costs.
- Keeping pace with the constantly changing regulatory environment of 457 Visas.
- Ensuring IMAN where the most regulatory compliant Health Fund in Australia.
- Building a flexible IT infrastructure so that new initiatives could be launched without waiting years for IT to catch up.
- Tracking and improving productivity any time it started to reverse.
In 2010, John began negotiations with NIB Health, a large Newcastle-based health provider. These were concluded with a buyout figure of 13xEBIT. This press release covers the story.
John’s new venture Austjobs is also growing with help from Polonious.
