A&M Capital Partners (“AMCP”) is pleased to announce that Med-Metrix, a leading provider of technology-enabled, Revenue Cycle Management (“RCM”) solutions, has acquired PatientPal, a provider of patient engagement, front-end RCM software solutions, including patient scheduling, price estimation, eligibility verification, prior authorization and payment solutions. PatientPal’s proprietary front-end RCM software further improves Med-Metrix’s patient intake technology and service capabilities. Financial terms of the transaction were not disclosed.
PatientPal will continue to serve over 40 customers in 35 states across a diversified mix of healthcare providers. The acquisition augments Med-Metrix’s Robotic Process Automation (“RPA”) capabilities as PatientPal’s software interacts with Electronic Medical Record (“EMR”) systems, allowing for the automation of traditional front desk responsibilities. PatientPal was founded in 2017 and is based in Boston, MA.
“This strategic transaction exemplifies our commitment to providing our current and prospective healthcare customers with differentiated, RCM technology,” said, Joseph Davi, Founder and CEO of Med-Metrix. “We believe Adam and Ben have built a great company with a fantastic technology platform. We look forward to integrating PatientPal’s software to provide a unique patient engagement experience for healthcare providers and their patients,” said Rob Wright, President of Med-Metrix.
“Med-Metrix and PatientPal have a shared vision of leveraging technology solutions to remove administrative burdens from providers, while improving their patient’s experience and optimizing outcomes,” said Adam Vartikar, CEO & Co-Founder and Benjamin Hutchins, CTO & Co-Founder of PatientPal.
“We are excited to welcome the PatientPal team to Med-Metrix. AMCP looks forward to supporting Med-Metrix’s current trajectory, including continued organic growth and additional M&A opportunities,” said Rob Haisch, a Partner of AMCP.
Under Med-Metrix, PatientPal will be rebranded within the Med-Metrix AnalytX suite of proprietary software products.
The M&A market for healthcare companies continues to strengthen in 2022 ahead of projected increases in US capital gains taxes. There is unprecedented capital in market, the lowest interest rates in US history and strong acquirer motivations for high quality healthcare companies. Across the continuum of care, buyers and investors are looking for well established, profitable businesses and offering strong valuations and options for management.
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