The technology driving the future of aged care

With a dedicated focus on the needs and challenges in aged care, Mirus has developed three leading software platforms – helping providers manage their revenue, admissions and workforce. It now has 126 clients, representing a third of Australia’s aged care facilities, with ambitions for global growth.

But to keep growing, the software business needed a banking partner who would be just as focused on the future. One who could understand and share their vision.

“We wanted to move away from a transactional banking partner to one who could be more strategic,” says Mirus co-founder James Price.

After being introduced to Macquarie Bank through his broker, Price admits he was impressed by the sophisticated approach they took with his small business.

“Having worked with a major consultancy firm, I knew that level of expertise was usually reserved for bigger businesses than ours. We met with a Macquarie tech expert very early on, and he just got what we wanted to do. Most bankers we’d worked with before hadn’t understood the development lifecycle in that way.”

Mirus was also looking for more flexibility across their banking requirements. The co-founders had previously been required to use their residential and commercial property investments as collateral, but Macquarie was able to set up the business’ business lending as a separate facility.

With a compelling interest rate on offer, both co-founders also switched their personal mortgages to Macquarie. “As a partner, they were on board with everything we needed. They didn’t try to fit us into a box that wouldn’t work for us.”

Mirus’ business model has matured over the years, and it now has more than 50 employees across Australia and an offshore process support office. Uptake of the workforce management platform grew 340% in the past year, and it has potential for international application.

Price says Macquarie’s flexibility with how they’ve set up facilities has given them the confidence to explore new opportunities.and so has their proactive and genuine support.

“Macquarie reached out early when COVID first hit, and were really helpful talking through our options and scenario plans.”

Infection control quickly became a serious risk for Mirus’ clients, so the team focused efforts on helping providers manage that efficiently through the rostering platform. “We now see potential for safely managing any remote or dispersed team – including our own,” Price says.

Throughout this period of uncertainty, Price says Macquarie’s professional, consistent and responsive approach was valuable. “They listen, understand and show respect: they know how to ask the right questions and have the right conversations.”

While Price acknowledges his business is still relatively small, he feels like Macquarie treats Mirus like it’s a big business. “I think that's quite important. Because one day we will be, and our bank can look back and say they were there with us from the beginning.”