What You Should Know:
– HST Pathways and Casetabs announce merger to power surgical communication combined with the industry leader in ASC practice management.
– The combined company is supported by a majority investment led by private equity company Bain Capital Tech Opportunities with a minority investment from Nexxus Holdings.
HST Pathways (“HST”) and Casetabs, two leading providers of innovative, cloud-based software for ambulatory surgery centers (“ASCs”) across the U.S., today announced a strategic merger of their businesses that will offer customers a flexible and secure set of technology solutions and enhanced products and services. The combination is supported by a majority investment led by Bain Capital Tech Opportunities with a minority investment from Nexxus Holdings. Financial terms of the private transaction were not disclosed.
In 2019, HST and Casetabs began bi-directional integration of their products. A revenue-sharing agreement was launched in January 2020, when Casetabs’ Schedule Sharing application became an integrated feature of HST’s practice management software.
Merger to Help Redefine the ASC Industry
The combined company will be led by seasoned executives from both HST and Casetabs, who will leverage their in-depth understanding of the ASC industry, strong client relationships, and insight into the market to align strategic goals and maximize opportunities for growth.
With the support and resources provided by growth investors with significant experience in healthcare technology, HST and Casetabs will accelerate the pipeline of ASC information management products and services to enable streamlined service, greater capabilities, and enhanced expertise for customers. HST and Casetabs offer practice management software, physician office scheduling, care coordination, revenue cycle optimization, enterprise supply chain management, case costing, patient engagement and communication, an electronic health record system, and analytics.
“The investment structure and partnership with Casetabs opens up new growth and synergies to create additional benefits for customers,” said Tom Hui, Founder and CEO of HST. “We already share over 400 customers which will provide a strong foundation to build further success in the market place. The combined talent of both companies will broaden and deepen our ability to deliver new products and continue to be a customer-centric services organization. Together, we continue to be thought leaders in the ASC market and introduce innovations that help our customers be successful today and in the future. This investment is a reflection of our commitment and confidence in our ability to grow together with Casetabs as leaders in the health information technology space.”