PointClickCare Technologies Inc. announced last week it is acquiring Collective Medical in an effort to more than double its platform size. PointClickCare Technologies is a software platform supporting a network of more than 21,000 skilled nursing facilities, senior living communities and home health agencies. It is backed by JMI Equity and Dragoneer Investment Group. Collective Medical is a leading real-time care notification, activation, and collaboration platform. The company’s platform collects data from electronic health records (EHRs) and health information exchanges to help providers make informed decisions. Sources cited in Business Insider value the merger at approximately $650 million.
Collective Medical’s software platform is used by more than 1,300 hospitals, thousands of ambulatory practices and long-term post-acute care providers, as well as accountable care organizations and every national health plan in the country, across 39 states. The acquisition is expected to close by the end of December 2020.
The acquisition will follow a partnership, created between the companies in August 2019, which streamlined the integration of Collective Medical’s solution for care transitions with PointClickCare’s leading cloud-based software platform.
PointClickCare Technologies’ first acquisition was announced only in 2019, but it seems to be expanding rapidly, with three deals on the books (including the one for Collective Medical), according to search results in our Healthcare Deal Database. In May, PointClickCare Technologies acquired Co-Pilot from Consonus Healthcare for an undisclosed sum. Co-Pilot specializes in pay-for-performance areas such as rehospitalization insights, market share insights, and enhanced quality measurements.
Back in March 2019, the company bought QuickMAR, which offers a medication management software solution for the long-term post-acute care market including pharmacies, senior living facilities, rehab hospitals, group homes, correctional facilities, behavioral health providers and more. Both deals expanded its presence in the long-term care market.