Acquisition to fuel innovation in solutions for rehabilitation therapy practices
PHOENIX (January 19, 2022) — WebPT, the leading outpatient rehabilitation SaaS platform for patient and practice management services, today announced the completion of the acquisition of Clinicient and its subsidiary Keet, effective January 18, 2022, following regulatory review. The acquisition provides additional scale and industry expertise to fuel innovation from the combined companies to improve patient outcomes, enable digital transformation of the front office, and deliver actionable business intelligence. Financial terms of the transaction were not disclosed.
Clinicient, headquartered in Portland, Oregon, provides technology and data solutions that enable providers to improve clinical outcomes and deliver and report on patient care experiences. Clinicient’s Insight and Insight Go platforms provide an integrated EMR, billing, and business intelligence solution to outpatient practices. Clinicient’s subsidiary Keet delivers on the promise of value-based care by providing an integrated patient and provider solution to track and benchmark patient outcomes.
“WebPT’s founding mission is to help rehab therapists achieve greatness in practice. To support this mission, we have expanded our offering over the last decade to include documentation, practice management, patient engagement, and billing services,” said Ashley Glover, CEO of WebPT. “This acquisition will give us additional scale to enable faster innovation and a larger platform to advocate more effectively for an industry we care deeply about. Together, we can extend our solutions to optimize patient outcomes, improve practice efficiency, and deliver actionable data and insights.”
WebPT will continue to support Clinicient’s platforms and customers as it works to integrate the companies' operations. Combined, the two companies serve more than 27,000 clinics and 43 million patients, providing unprecedented scale in outpatient rehab and a complete software platform for therapy organizations of all sizes. Ashley Glover will be the CEO of the combined companies.
“We are extremely excited to join the WebPT family,” said T. Kent Rowe, current CEO of Clinicient. “The next decade of healthcare will be all about value-based care and how physical therapy can prove its worth. The joined companies bring tremendous scale—in products, technology, clinical experience, and advocacy—and put us in a better position to elevate the rehabilitation therapy profession.”
Willkie Farr & Gallagher LLP served as legal adviser to WebPT. Lowenstein Sandler LLP served as legal advisor to Clinicient, and Piper Sandler Companies served as the banker for the transaction.
WebPT is the leading rehab therapy platform for patient and practice management services. WebPT's product suite provides a robust end-to-end solution covering the entire rehab therapy business cycle, including patient engagement, documentation solutions to deliver quality, evidence-based care, and billing and Revenue Cycle Management (RCM) services. With a 99% retention rate and an uptime rate in excess of 99.9% across its entire platform, WebPT is the most-trusted and most-reliable solution in the industry, regardless of practice setting, specialty or size. WebPT's growth has earned it a spot on the Inc. 5000 list of the nation's fastest-growing companies nine years in a row. Learn more at webpt.com.
Clinicient simplifies care delivery for PT, OT, and SLP organizations with one easy-to-use software platform designed to improve clinical workflows and optimize business performance. Committed to elevating rehab therapy to its rightful place in the healthcare ecosystem, we’re laser-focused on simplifying complex workflows for greater efficiencies and better outcomes. We help clinic teams work smarter, not harder, with one easy-to-use platform offering: EMR, Billing Software, Patient Engagement, Outcomes Management, RCM, Patient Services, and an enterprise-level suite of Business Intelligence tools all working together to improve clinical care processes. With a 97% client retention rate, 30% improvement in efficiencies, and a 10% increase in net collections, Clinicient is proud to partner with over 35,000 therapists to help deliver exceptional clinical care. Learn more at www.clinicient.com.