LOUISVILLE, Ky. and BOSTON, March 23, 2021 /PRNewswire/ -- 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.
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 nearly 1 million healthcare professionals to make better clinical decisions for over 1 billion patient encounters every year. Health plans, health systems, emergency departments, pharmacies, and federal and state governments rely on Appriss Health's technology, applications and data analytics to positively impact patient outcomes and manage the rising financial and social costs of behavioral health issues.
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. Visit www.patientping.com to learn more.
Appriss Inc. is a leading 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. More information is available at www.appriss.com.
Clearlake Capital Group, L.P. is an investment firm founded in 2006 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 technology, industrials and consumer. Clearlake currently has approximately $30 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. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.
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. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
Sarah Larrow/Jill Anderson
Lambert & Co.
For Insight Partners: