PatientPoint, the Cincinnati, Ohio-based company that makes education and engagement platforms for patients and providers, has raised $140 million in new funding from Searchlight Capital Partners and Silver Point Capital.
The company – which provides content through a variety of delivery methods including digital waiting rooms and interactive touchscreens in exam rooms – plans to use the latest funding to expand its already considerably large digital footprint. PatientPoint programs are currently in more than 31,000 doctor’s offices and 1,000 hospitals around the United States, and the company reports some half a billion patient and caregiver visits each year.
"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," PatientPoint founder and CEO Mike Collette said in a statement. "This capital will allow us to expand our digital footprint so that we may continue to deliver market-leading reach in vital specialties for our sponsors and healthcare providers. By 2019, our goal is to provide programs that can impact 60 to 70 percent of brand prescribing volume in the most strategically important specialties."
PatientPoint develops all of its content internally, and offers a few information resources: PatientPoint Access, a digital medical news source for physicians; PatientPoint Interact, a wall-mounted touchscreen device located in exam rooms for patient education; and PatientPoint 360, an app (which just launched in October 2016) that pulls together all the other product offerings. PatientPoint has been around for almost 30 years, and has established an even deeper foothold in the healthcare information industry as of late. In January, the company partnered with the American Heart Association to act as an extension of the American Heart Association’s informational efforts, leveraging its network of over 290,000 healthcare providers to share the AHA’s public service announcements and educational content through its multiple channels. In November, it acquired MedCenterDisplay, a digital signage, mobile app and digital marketing company.
"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," PatientPoint’s Chief Growth Officer Traver Hutchins said in a statement. "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."