Practice management software company has secured more than $ 72 million in equity and debt financing from Tebra Golub Capital, valued at more than $ 1 billion.
What does this mean?
Tebra is a fruit Kareo, which offers clinical and financial software, and the recent integration between PatientPop, which provides tools to increase patient engagement and practice. The deal closed in November.
The joint venture includes the creation of a medical practice website and advertising of its services, online schedules and patient reminders, telehealth, an EHR, billing and payment, as well as data analysis products.
Tebra Capital will use its post-consolidation plans to accelerate, such as growing market share, developing and launching products as a joint venture, and branding new entities.
“With this new investment from Golub Capital, we will be able to accelerate Tebra’s mission to unlock improved healthcare by helping independent practices bring modernized care to patients everywhere,” CEO and co-founder Dan Rodriguez said in a statement.
“Together, we will expand our market reach and launch new solutions, attract more patients, help more physicians with digital tools and support to get paid faster and manage their practice more efficiently.”
Snapshots of the market
Patientpop It raised $ 50 million from the Series C fund in 2020 and $ 25 million in 2018. According to Crunchbase, Kareo last collected around $ 10 million in 2018. It also acquired billing-automation company PatientlySpeaking last year and patient-communication equipment DoctorBase in 2015.
Another company in the practice management space, NexHealth, has announced that it has closed a The $ 125 million Series C funding round in April brought the company to a 1 billion valuation. It provides tools for online scheduling, marketing and patient engagement.
Patient communication platform Luma Health Scored $ 130 million late last year. Change Healthcare recently unveiled a new suite of engagement tools designed in collaboration with Lumar.
Meanwhile, SocialClimb, which focuses on marketing medical practice, Announced an increase of $ 12 million early last year.