PatientPoint Raises $140 Million in Capital to Fuel Its Digital POC Growth
PatientPoint announced this week that it received $140 million in capital from private investment firms, allowing for significant digital growth in its point of care networks. Serving as a strategic advisor, the Peter J. Solomon Company secured the financing from Searchlight Capital Partners and Silver Point Capital.
A leader in patient education and engagement programs in the point of care space, PatientPoint provides trusted content, which is largely created internally, that is tailored to particular healthcare professionals’ specialties. The programs are offered through a variety of channels, including digital screens in waiting rooms and interactive touchscreens in exam rooms – currently found in more than 31,000 doctor’s offices and 1,000 hospitals across the country. While today’s impact levels reach over a half a billion patient and caregiver visits annually, founder and CEO Mike Collette stated via news release that “by 2019, our goal is to provide programs that can impact 60-70% of brand prescribing volume in the most strategically important specialties.”
Collette, who recently returned to his leadership post at PatientPoint, explained, “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.” Traver Hutchins, Chief Growth Officer, added, “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.”
The rapid growth of the point of care industry combined with PatientPoint’s innovative patient programs, reliable analytics and insights, management experience, and the trust of healthcare providers, solidified commitments from investors. PatientPoint enhances the healthcare experience for patients and caregivers through its cohesive, end-to-end communication platform, whether it be in the primary care space or complex specialties.
Click here to read the full news release.