Louisville, KY and Boston, MA – March 23, 2021 – Appriss Health, a leader in cloud-based care coordination software and analytics solutions focused on behavioral health and substance use disorders, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and Insight Partners, announced today that it has entered into a definitive agreement to acquire PatientPing, a leader in care coordination data and software solutions focused on patients with complex needs, and senior care. Terms of the transaction were not disclosed.
The transaction will enable the combined companies to deliver more effectively on their shared mission of enabling various stakeholders in the healthcare ecosystem to utilize software and analytics solutions to facilitate better care for patients across the physical and behavioral health continuum. Together, the software improves patient outcomes, and lowers the total cost of care. The combination will result in more effective collaboration among healthcare professionals on shared patients across their entire spectrum of needs, creating the largest and most diverse care collaboration network in the country, connecting close to one million healthcare professionals across all 50 states at virtually all care settings including primary and specialty care, emergency departments, inpatient facilities, skilled nursing facilities, post-acute facilities, behavioral health treatment centers, pharmacies, home health agencies and state health agencies.
“Appriss Health already provides its technology, data and analytics to improve how care is provided in over a billion patient encounters each year. We are excited to be able to immediately serve this broader community of healthcare professionals with unique insights, and real-time clinical decision support,” said Rob Cohen, Appriss Health President. “Care team members will now be able to come together on a common platform and positively impact the patient’s whole care experience, both physically and behaviorally. Everyone recognizes the impact of behavioral health issues on a person’s physical and mental well-being, and we are proud to be tackling one of the biggest issues facing the nation.”
PatientPing CEO Jay Desai said, “This combination is transformational for patient care. PatientPing’s mission since its founding has been to connect providers to seamlessly coordinate and significantly improve patient outcomes while lowering the cost of care. Our combined networks will connect providers across all care settings so they can work together better to improve clinical episodes and care transitions for the millions of patients that interact with the nations’ healthcare providers.”
“At Appriss, we intentionally focus on making sure that our technology solutions promote social good,” said Appriss Inc. CEO, Krishnan Sastry. “Appriss has a 25-year track record of looking for ways technology can address major problems that affect our society. Delivering technology that improves how patients receive care is one of our largest focus areas. In healthcare, the ultimate goal is to be able to put the patient as the central point of focus, understand their physical ailments, lifestyle issues, behavioral health issues and any social determinants that impede progress towards better health. When multiple healthcare professionals, across multiple care-settings are able to leverage technology and data to provide patient-centered care, outcomes improve, and costs come down. We’re proud to combine the efforts of our Appriss Health team with those of PatientPing to improve how we deliver care in America.”
The combined Appriss Health and PatientPing platform serves 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. Without comprehensive data and the right tools in the clinical workflow, caregivers struggle to formulate cohesive treatment plans, leading to disjointed and inefficient care that ultimately impacts the patient experience and health outcomes. In many cases, effectiveness suffers, and costs increase. While many providers and payers are actively implementing coordinated care models, to fully realize the benefits, they need software solutions with insights based on comprehensive data sets to communicate across a large network of caregivers. Appriss Health and PatientPing’s combined software and analytics solutions will provide access to high-integrity clinical information and applications that are both accurate and enhance care offerings.
Evercore and District Capital Partners acted as financial advisors and Willkie, Farr & Gallagher LLP served as legal advisor to Appriss, Clearlake and Insight Partners. Deutsche Bank acted as financial advisor and Gunderson served as legal advisor to PatientPing. The transaction is expected to close in the second quarter of 2021, subject to completing customary closing conditions.