PatientPoint announced this week that it has successfully generated USD 140 million in capital from private investment firms Searchlight Capital Partners and Silver Point Capital, aimed at dramatically expanding the digital footprint of its point-of-care networks.
PatientPoint programs provide engaging content through a host of delivery channels including digital waiting room screens in physician offices and hospitals and interactive touchscreens in the exam room. Unlike most of its competitors, PatientPoint develops the majority of its content internally, tailoring education to specific specialties to ensure that it meets the unique needs of patients and providers in the point-of-care environment.
Mike Collette, founder and CEO of PatientPoint, who recently returned to lead the company told us “We have invested a significant amount of financial and human capital into product development over the past six months to ensure that our programs are truly best in class. This capital will allow us to expand our digital footprint so that we may continue to deliver market-leading reach in vital specialties for our sponsors and healthcare providers. By 2019, our goal is to provide programs that can impact 60-70 percent of brand prescribing volume in the most strategically important specialties.”
PatientPoint programs are currently based in more than 31,000 physician offices and 1,000 hospitals nationwide and impact more than half a billion patient and caregiver visits each year. In addition to the expansion of its digital product lines, PatientPoint has been working on a visionary product roadmap powered by its mission to continuously improve each patient-physician engagement.
Healthcare media entrepreneur Traver Hutchins who recently joined PatientPoint in the newly created role of Chief Growth Officer said “While much of our growth will be through amplification of existing programs, we will also be solidifying several acquisitions and partnerships that will further strengthen our product offerings. We have also significantly increased our data-driven marketing expertise, allowing us to provide more personalized, relevant communication to patients for a truly enriched healthcare experience.”
Darren Glatt, partner at Searchlight Capital Partners told us “We believe the point-of-care market is poised for continued growth and that PatientPoint has the products, insights, analytics and management experience—as well as the trust of advertisers and healthcare providers—to be the point-of-care market leader”.
Peter J. Solomon Company acted as a strategic advisor on the deal and arranged the financing and Peter J. Solomon Managing Director Mark Boidman told us “The reputation of PatientPoint as the trusted source of best-in-class patient engagement solutions in the rapidly growing point-of-care industry solidified investor commitment”.
PatientPoint powers more effective patient-physician engagements across all points of care. With 30 years of unrivaled experience and continual, meaningful innovation, we are trusted consultants to healthcare providers and sponsoring brands. Using superior analytics and insights, we craft customized programs that drive better engagements. From primary care to complex specialties, from practices to hospitals, PatientPoint provides a cohesive, end-to-end communication platform that enriches the entire care experience and delivers proven results.