The private equity-backed Appriss Health has announced the acquisition of PatientPing, a large care coordination platform based in Boston, Massachusetts. PatientPing has developed a platform that enables providers to collaborate on shared patients through a comprehensive suite of solutions and allows provider organizations, health plans, governments, individuals and the organizations supporting them to leverage real-time patient data to reach their shared goals of improving the efficiency of the healthcare system. PatientPing’s network connects over 1,250 hospitals, 7,000 post-acute care facilities, and hundreds of other providers such as Federally Qualified Health Centers, social and human service agencies, urgent care clinics and behavioral health organizations among others.
PatientPing has raised roughly $101.2 million since launching in 2013, including a $60 million Series C in August. Its backers include F-Prime Capital, Andreessen Horowitz and GV, the VC investment arm of Alphabet Inc. (NASDAQ: GOOG). According to sources cited in PE Hub, the deal for PatientPing is valued at approximately $500 million.
Appriss Health, a portfolio company of Clearlake Capital Group and Insight Partners, provides state government agencies with substance dispensing information, and delivers real-time clinical decision support, critical insights and interventions to physicians, pharmacists, and care team members through millions of patient encounters each year. According to search results in our Healthcare Deals Database, Appriss Health first reported a deal back in October 2019 for OpenBeds, a cloud-based platform that provides real-time behavioral health treatment facility and program availability.
The combined Appriss Health and PatientPing platform will serve the largest integrated delivery systems in the U.S., including 2,500 hospitals, 7,500 post-acute facilities, 25,000 pharmacies including every national pharmacy chain and 43 state governments. The deal is expected to close by the end of Q2:21.
