Appriss Health, a care coordination software company focused on behavioral health, has acquired PatientPing, which also provides care coordination software but focuses on seniors and patients with complex needs.
Appris Health announced the news Tuesday. While the companies did not formally disclose the terms of the transaction, PE Hub reported that PatientPing went for $500 million. The publication was first to break the news, citing “people familiar with the transaction” on Monday, before the official press release came out.
Backed by Clearlake Capital Group, L.P. and Insight Partners, Appris Health uses software and data analytics to help organizations identify and mitigate substance use disorders (SUDs). Health plans, health systems, pharmacies, and federal and state governments are among the company’s clients. Appriss Health’s cloud-based software connects nearly one million health care workers across 500 clinical software systems, including more than 140 electronic health records.
Meanwhile, Boston-based PatientPing is a software company that provides care coordination services to 1,250 hospitals and 6,000 post-acute care entities nationwide. Providers are notified every time a patient shows up at a particular site of care. The goal is to keep seniors and complex patients from falling through the cracks and to minimize the costs that come with it. In recent years, the company raised more than $100 million to date, according to the fundraising tracker website Crunchbase.
The combined company serves the largest integrated delivery system in the US, including 7,500 post-acute facilities, 2,500 hospitals and 25,000 pharmacies according to a press release announcing the news. Plus, it diversifies Appriss Health’s portfolio, PE Hub reported.
“The transaction will enable the combined companies to deliver more effectively on their shared mission of enabling various stakeholders in the health care ecosystem to utilize software and analytics solutions to facilitate better care for patients across the physical and behavioral health continuum,” according to the press release announcing the news. “Together, the software improves patient outcomes and lowers the total cost of care.”
Companies featured in this article:
