MISSISSAUGA, Ontario–(BUSINESS WIRE)–PointClickCare Technologies, the leader in cloud-based healthcare software for the long-term and post-acute care market, today announced a minority strategic investment from affiliates of Hellman & Friedman LLC, a preeminent global private equity firm with a distinctive approach focused on investments in high-quality growth businesses, as well as an increased investment from Dragoneer Investment Group, a long-term-oriented investment firm with an extensive track record of investing in leading growth companies.
H&F will work with the PointClickCare leadership team to continue fueling growth and expanding the company’s product offerings. As part of the investment, Sameer Narang, Partner at H&F, will join the PointClickCare Board of Directors. PointClickCare Founders Mike and David Wessinger will continue to control and operate the company with the support of the Board of Directors.
“We are excited to welcome Hellman & Friedman as an investor in PointClickCare given its deep sector expertise and its collaborative partnership approach, and are delighted to officially welcome Sameer to our board,” said Mike Wessinger. “This investment, along with Dragoneer’s increased stake, will help us accelerate our growth and expansion across the healthcare continuum, and enable us to continue delivering on our commitment to our customers’ success – particularly at a time when the need for more seamless care through innovative technology is paramount.”
“H&F is thrilled to join PointClickCare’s investor base. We believe there is significant growth opportunity ahead given the company’s exceptional customer relationships, strong product suite and leading market position in the post-acute ecosystem,” said Narang. “PointClickCare sits at the intersection of our healthcare and software investment efforts, exhibiting all the compelling characteristics we seek out when investing in vertical-market category leaders. We look forward to collaborating with the team and believe we are uniquely positioned to further accelerate the Company’s expansion, for the benefit of its customers and the broader healthcare industry.”
“As the largest outside investor in PointClickCare, we are thrilled to be expanding our investment in PointClickCare,” said Christian Jensen, Partner at Dragoneer and member of the PointClickCare Board of Directors. “We look forward to continuing to support PointClickCare as it builds on its already impressive momentum and delivers even more of the hallmark innovation that has created fierce loyalty among its customers.”
PointClickCare’s cloud-based healthcare software platform provides the core clinical and administrative system of record and a comprehensive suite of workflow management tools for skilled nursing facilities, senior living communities and home health agencies. PointClickCare currently serves over 21,000 long-term and post-acute care providers, including approximately 65% of skilled nursing facilities in the United States.
PointClickCare recently acquired Collective Medical, the leading network-enabled platform for real-time cross-continuum care coordination. 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.
“We would also like to take this opportunity to thank JMI Equity, which has undoubtedly contributed to the success of PointClickCare and our customers by enabling us to expand the breadth of our solution suite and meet the evolving needs of long-term care providers,” continued Wessinger. “Most importantly, we thank them for believing in our vision. We look forward to building on the continued leadership momentum we have created and are pleased to have the H&F team on board, alongside the continued support of Dragoneer Investment Group and JMI Equity, as we approach our next stage of growth.”
UBS Investment Bank provided financial advisory services and Goodwin Procter LLP provided legal advisory services to PointClickCare in the successful financing and facilitation of the equity transactions. Evercore provided financial advisory services to JMI Equity.
To learn more about PointClickCare, visit www.pointclickcare.com.
About PointClickCare
With a suite of fully-integrated applications powered by cloud-based healthcare software, PointClickCare leads the way in helping care providers connect, collaborate, and share data within their network. Over 21,000 long-term and post-acute care providers, including skilled nursing facilities, senior living communities, and home health agencies use PointClickCare today, making it the North American healthcare IT market leader for the senior care industry. For more information on PointClickCare’s software solutions, visit www.pointclickcare.com.
