What You Should Know:
– Service commerce platform EverCommerce acquires Dublin, OH-based Updox, a healthcare communication platform for in-person and virtual care.
– The acquisition expands EverCommerce’s health services portfolio and enables the companies to further their shared goal of simplifying the business of healthcare and facilitating the growth of healthcare practices.
Today, EverCommerce, a leading service commerce platform, completed the acquisition of Updox, a Dublin, OH-based complete healthcare communication platform for in-person and virtual care. The company will join EverCommerce’s portfolio of health services companies, enabling it to provide customers with faster access to more products, a broader suite of solutions, and more resources.
The acquisition comes on the heels of a breakout year for virtual care. Digital health is on track to hit over $12 billion in investments by the end of 2020 – the largest funding year for the sector yet – and over 60 acquisitions through the end of Q3, including other telehealth breakouts like Teladoc, which recently completed its acquisition of Livongo in a deal valued at over $18B.
Deliver the Best in Virtual & In-Person Care
Updox provides next-generation virtual care, patient engagement, and office productivity solutions that enable practices to reduce costs and drive revenue. Based on increasing demand for solutions that seamlessly work together to improve practice efficiency and provide an engaging patient experience, Updox has continuously brought new functionality to market. Additional solutions are planned for 2021.
Updox serves more than 560,000 users across healthcare practices, health systems and pharmacies, and more than 210 million patients. Updox has experienced rapid growth and adoption this year, as healthcare providers sought to quickly implement telehealth and other patient engagement solutions that enabled them to acquire new patients, operate more efficiently, and engage their patients as a result of the COVID-19 pandemic. In fact, Updox facilitated over 3.5 million telehealth visits since March and continues to support more than 15,000 visits per day.
The EverCommerce health services portfolio includes a diverse mix of solutions including cloud-based medical billing, specialty EHR, practice management, RCM software, lead generation, marketing solutions and retention services for healthcare practices. With this acquisition, EverCommerce will advance its mission to provide end-to-end mission-critical solutions that enable healthcare practices to accelerate growth, streamline operations and increase patient retention.
“Now more than ever, healthcare providers need a one-stop-shop to acquire new patients, operate more efficiently and engage their patients. They also need one single place to communicate with patients where they are – on their mobile phones,” said Michael Morgan, president of Updox. “We’re thrilled to join the EverCommerce team, which shares our vision for advancing healthcare. We look forward to accelerating innovative solutions that enable healthcare practices to more effectively market to patients, simplify payments, and effectively interact with patients both in and outside the practice.”
Terms of the deal were not disclosed.