What You Should Know:
– PointClickCare announces its intent to acquire Collective Medical to create the largest combined acute and post-acute care network in North America for $650M.
– Collective Medical’s platform connects more than 1,300 hospitals, thousands of ambulatory practices and long-term post-acute care (LTPAC) providers, as well as accountable care organizations (ACOs) and every national health plan in the country, across a 39-state network.
– With the acquisition of Collective Medical, PointClickCare will solidify its position as a high-growth, cloud-based SaaS leader, serving a large, diversified customer base across the acute, ambulatory, post-acute, and payer spectrum.
PointClickCare Technologies, a leader in senior care technology with a network of more than 21,000 skilled nursing facilities, senior living communities, and home health agencies, today announced its intent to acquire Collective Medical, a Salt Lake City, UT-based leading network-enabled platform for real-time cross-continuum care coordination for $650M. Together, PointClickCare and Collective Medical will provide diverse care teams across the continuum of acute, ambulatory, and post-acute care with point-of-care access to deep, real-time patient insights at any stage of a patient’s healthcare journey, enabling better decision making and improved clinical outcomes at lower cost.
The acquisition follows a partnership, created between the companies in August 2019, which streamlined the integration of Collective Medical’s solution for care transitions with PointClickCare’s leading cloud-based software platform. Hundreds of PointClickCare customers are already leveraging this connection to the Collective platform to coordinate seamless care transitions and influence decisions at the point of care.
COVID-19 Underscores Barriers to Care Coordination
Currently, hospitals, ACOs and health plans lack the data and tools to effectively coordinate with LTPAC providers and other disparate points of care – an issue spotlighted further by the COVID-19 pandemic. And despite the healthcare system’s ongoing move to value-based payment models, barriers to care coordination persist, especially for seniors and other complex patient populations. Through this acquisition, the company will be uniquely positioned to address these challenges.
PointClickCare supports a network of more than 21,000 skilled nursing facilities, senior living communities and home health agencies. In the United States, 97 percent of all hospitals discharge patients to skilled nursing facilities using PointClickCare. Founded in 2005, Collective Medical’s platform connects more than 1,300 hospitals, thousands of ambulatory practices and long-term post-acute care (LTPAC) providers, as well as accountable care organizations (ACOs) and every national health plan in the country, across a 39-state network.
These providers come together via the Collective platform to support patients suffering from a variety of complex conditions, including substance use disorder, mental and behavioral health issues, and other care needs requiring multiple interventions and transitions across disparate care settings. The combination of PointClickCare and Collective Medical will enable care to be more seamlessly delivered for the most complex (high-cost, high-needs) patients, including the rapidly growing aging population.
The acquisition will connect care teams, post-acute providers, hospitals and health plans with better data about their patients, ultimately reducing administrative burdens and bringing down the high costs of complex care. Providers and health plans will be empowered as they work to solve the complexities around the senior patient population by leveraging increased information across diagnoses groups and unprecedented access to drive behavior change at the point of care.
Acquisition Establishes PointClickCare As Leader in Acute and Post-Acute Care Network
With the acquisition of Collective Medical, PointClickCare will solidify its position as a high growth, cloud-based SaaS leader, serving a large, diversified customer base across the acute, ambulatory, post-acute, and payer spectrum. As the shift to value-based care fuels growing market demand for intelligence and collaboration tools, the company will be best positioned to provide the most fully integrated set of real-time care coordination tools across the entire continuum of care, powered by the largest network of its kind in the U.S.
“The healthcare ecosystem is a mix of disconnected providers, systems, plans, processes and data. Healthcare costs and risk are on the rise, while patient care and provider-to-provider coordination are inconsistent. Our mission is to improve the lives of seniors, and we believe the best way to meaningfully advance this goal is by connecting disparate points of care,” says Mike Wessinger, founder and chief executive officer of PointClickCare Technologies. “Collective Medical offers the right fit of people and technology and together we will initiate a new era of data-enriched collaboration across the continuum that radically transforms how data and people are empowered to liberate health.”
The acquisition is subject to receiving regulatory approvals, including from The Committee on Foreign Investment in the United States (CFIUS), and other customary closing conditions, and is expected to be completed by the end of December 2020.