PointClickCare Technologies has agreed to acquire Collective Medical, a Draper, Utah-based healthcare technology company backed by multiple venture capital investors, including Kleiner Perkins. Business Insider reported the purchase price is US$650 million. Based in Toronto, PointClickCare is a software provider focused on the long-term and post-acute care market. It is backed by Dragoneer Investment Group and JMI Equity.
PointClickCare Technologies Announces Intent to Acquire Collective Medical, Creating the Largest Combined Acute and Post-Acute Care Network in North America
MISSISSAUGA, ON. – December 8, 2020 – PointClickCare Technologies, the leader in cloud-based software technology for the long-term and post-acute care market, today announced its intent to acquire Collective Medical, the leading network-enabled platform for real-time cross-continuum care coordination. Together, PointClickCare and Collective Medical will provide diverse care teams across the continuum of acute, ambulatory, and post-acute care with point-of-care access to deep, real-time patient insights at any stage of a patient’s healthcare journey, enabling better decision making and improved clinical outcomes at lower cost. The acquisition is subject to receiving regulatory approvals and other customary closing conditions and is expected to be completed by the end of December 2020.
“The healthcare ecosystem is a mix of disconnected providers, systems, plans, processes and data. Healthcare costs and risk are on the rise, while patient care and provider-to-provider coordination are inconsistent. Our mission is to improve the lives of seniors, and we believe the best way to meaningfully advance this goal is by connecting disparate points of care,” says Mike Wessinger, founder and chief executive officer of PointClickCare Technologies. “Collective Medical offers the right fit of people and technology and together we will initiate a new era of data-enriched collaboration across the continuum that radically transforms how data and people are empowered to liberate health.”
PointClickCare supports a network of more than 21,000 skilled nursing facilities, senior living communities and home health agencies. In the United States, 97 percent of all hospitals discharge patients to skilled nursing facilities using PointClickCare. Collective Medical’s platform connects more than 1,300 hospitals, thousands of ambulatory practices and long-term post-acute care (LTPAC) providers, as well as accountable care organizations (ACOs) and every national health plan in the country, across a 39-state network. These providers come together via the Collective platform to support patients suffering from a variety of complex conditions, including substance use disorder, mental and behavioral health issues, and other care needs requiring multiple interventions and transitions across disparate care settings. The combination of PointClickCare and Collective Medical will enable care to be more seamlessly delivered for the most complex (high-cost, high-needs) patients, including the rapidly growing aging population.
“There is near-perfect alignment between Collective Medical and PointClickCare given our shared values and mission to support vulnerable populations,” says Chris Klomp, chief executive officer of Collective Medical. “We are thrilled to join forces with PointClickCare to expand our network even faster as we work to connect healthcare at scale and ensure no patient slips through the cracks of an otherwise fragmented care continuum.”
With the acquisition of Collective Medical, PointClickCare will solidify its position as a high growth, cloud-based healthcare software provider, serving a large, diversified customer base across the acute, ambulatory, post-acute, and payer spectrum. As the shift to value-based care fuels growing market demand for intelligence and collaboration tools, the company will be best positioned to provide the most fully integrated set of real-time care coordination tools across the entire continuum of care, powered by the largest network of its kind in the U.S.
The acquisition will follow a partnership, created between the companies in August 2019, which streamlined the integration of Collective Medical’s solution for care transitions with PointClickCare’s leading cloud-based software platform. Hundreds of PointClickCare customers are already leveraging this connection to the Collective platform to coordinate seamless care transitions and influence decisions at the point of care.
To learn more about PointClickCare, visit www.pointclickcare.com.
With a suite of fully-integrated applications powered by cloud-based healthcare software, PointClickCare leads the way in helping care providers connect, collaborate, and share data within their network. Over 21,000 long-term and post-acute care providers, including skilled nursing facilities, senior living communities, and home health agencies use PointClickCare today, making it the North American healthcare IT market leader for the senior care industry. For more information on PointClickCare’s software solutions, visit pointclickcare.com.
About Collective Medical
Collective Medical is the nation’s leading real-time care notification, activation, and collaboration platform. Proven to streamline care transitions, improve coordination, and reduce unnecessary length of stay and admissions, Collective helps improve patient outcomes and lower costs by closing communication gaps across care settings that undermine care. With a nationwide network of thousands of hospitals and health systems, primary, specialty, and post-acute clinics, health plans and ACOs, Collective integrates alongside EHRs and health information exchanges to empower decision making by highlighting essential insights and actions to take on patients a provider has already seen, is currently seeing, or should see. Learn more about Collective’s impact at www.collectivemedical.com.
Corporate Communications Manager, PointClickCare