PointClickCare agrees to buy VC-backed Collective Medical

Healthcare software maker PointClickCare Technologies agrees to buy healthtech company Collective Medical of Draper, Utah for a reported $650m.

PointClickCare Technologies, a provider of cloud-based healthcare related software technology, announced its intent to acquire Collective Medical, a Draper, Utah-based healthtech company. Business Insider reported the purchase price is $650 million.

VC-backed Collective Medical was valued at about $170 million after its last funding round in 2017, according to Pitchbook data. Investors include Kleiner Perkins, Maverick Ventures, Kaiser Permanente, 3M Ventures, California Healthcare Foundation, Bessemer Venture Partners, Epic Ventures, Intermountain Ventures, Peterson Partners, and Providence Ventures, according to the company.

Source: Press release