Appriss Health Completes Acquisition of PatientPing
THE COMBINED COMPANY WILL LEVERAGE ITS LEADING CLOUD-BASED SOFTWARE AND ANALYTICS PLATFORM TO CONNECT NEARLY ONE MILLION HEALTHCARE PROFESSIONALS AND DELIVER COMPREHENSIVE CARE COORDINATION SOLUTIONS
Louisville, KY and Boston, MA – 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 completed its acquisition of PatientPing, a leader in care coordination data and software solutions focused on patients with complex needs, and senior care. The transaction valued the combined company at over $1.5 billion.
Together, the companies expect to deliver on a shared mission of enabling better care for patients across the physical and behavioral health continuum. The combined software solutions help healthcare professionals collaborate on shared patients across the spectrum of care, which improves patient outcomes and lowers total cost of care. The acquisition creates a large and diverse care collaboration network across the country, connecting close to one million healthcare professionals in all 50 states and 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 is proud to serve a broader community of healthcare professionals with unique data insights, analytics, and real-time clinical decision support,” said Rob Cohen, President of Appriss Health. “Through our combined technology solutions, clinicians and care teams will be able to connect and collaborate on a common platform to better support their patients’ whole physical and behavioral healthcare experience. Together, we are well-positioned to deliver on one of the most significant issues facing our nation today – behavioral health care coordination. We have the joint technologies in place to not only benefit providers across the healthcare system, but also to improve public health for the better.”
“Clinical encounters – in the ER, after surgery, after rehab in a skilled nursing facility, in an outpatient clinic, at a behavioral health facility – are fragile moments in our lives,” said Jay Desai, Co-Founder and CEO of PatientPing. “Providers need information and tools that provide patients with the best possible care during and after an episode. Our products stitch together incredibly seamlessly to empower providers so they can improve care episodes and transitions.”
“Ten years ago, we started with a very specific mission of delivering technology solutions to tackle the opioid crisis in the country. We knew back then that someday we would positively impact the health of every American. I am delighted to see us take a major step in that direction with this transaction,” said Krishnan Sastry, CEO of Appriss. “I am impressed with the talent and passion in the PatientPing organization. Jay and Rob have been working to expand an outstanding team that is already well on its way to creating the best solutions for the markets we serve. I’m looking forward to sharing more details of our combined innovations in the months ahead.”
The combined Appriss Health and PatientPing platform serves the largest integrated patient care 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, lack of coordination results in reduced effectiveness and an increase in costs. While many providers and payers are actively implementing coordinated care models to fully realize the benefits, they need software solutions that offer 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 to Appriss, Clearlake and Insight Partners. Deutsche Bank acted as financial advisor to PatientPing.
About Appriss Health
Appriss Health is a leading SaaS platform for behavioral health care coordination and is a recognized leader in providing software and data analytics solutions to identify and mitigate Substance Use Disorders. Appriss Health’s cloud-based software connects nearly one million healthcare professionals across 500 clinical software systems including over 140 electronic health records. The platform enables healthcare professionals to make better clinical decisions for over 1 billion patient encounters every year. Health plans, health systems, pharmacies, and federal and state governments rely on Appriss Health’s platform, applications, and data analytics to positively impact patient outcomes and manage the rising financial and social costs of behavioral health issues.
About PatientPing
PatientPing is an innovative care collaboration platform that reduces the cost of healthcare and improves patient outcomes by seamlessly connecting providers to coordinate patient care. The platform 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 our 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 (FQHCs), social and human service agencies, urgent cares, and behavioral health organizations among others.
About Appriss
Appriss Inc. is a data and analytics company on a mission to put knowledge to work for good in the world. Founded in Louisville, KY in 1994, Appriss’s technology products and services help clients analyze trends, identify risks, and make better decisions that improve the health, safety and wellbeing of individuals and communities. Guided by their “Knowledge for Good” philosophy, Appriss serves businesses, governments, healthcare institutions and commercial enterprises in over 25 countries across 4 continents.
About Clearlake
Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are industrials, technology, and consumer. Clearlake currently has approximately $35 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all.
