Major Midwest HIT merger positions Sioux Falls as leading startup/health tech hub
Sioux Falls-based DocuTAP and Illinois-based Practice Velocity – two of the biggest names in EHR/on-demand healthcare – just announced their official merger this morning to become newly formed company Experity. Warburg Pincus, a leading global private equity firm focused on growth investing, has merged DocuTAP and Practice Velocity— the two leaders and innovators in the…
Sioux Falls-based DocuTAP and Illinois-based Practice Velocity – two of the biggest names in EHR/on-demand healthcare – just announced their official merger this morning to become newly formed company Experity.
Warburg Pincus, a leading global private equity firm focused on growth investing, has merged DocuTAP and Practice Velocity— the two leaders and innovators in the on-demand healthcare and urgent care space.
The new organization will operate under the brand name Experity, which will draw upon over 50 years of shared expertise and an expanded suite of on-demand healthcare solutions to power the patient-centered healthcare revolution.
“We thank all of our clients and partners for the overwhelming enthusiasm and support since announcing our intent to merge,” said Dr. David Stern, CEO, Experity, in a press release. “Not only is this an exciting time for Experity’s employees, customers, and partners, but for the industry as a whole. We’ve all witnessed the evolution of urgent care and growth into nontraditional, on-demand healthcare.
He continued “This merger is a reflection of industry growth and the need for solutions that can further power the patient-centered healthcare revolution. Patients have more choices than ever before, and the unification of these great brands will further enable current and future clients to deliver an unmatched patient experience.”
DocuTAP, a major player in the growing healthcare IT and startup scene in Sioux Falls is a developer of EMR, PM, and analytics technology designed to manage and streamline the urgent care experience for patients and their providers. The electronic medical records (EMR) platform facilitates accurate charting with templates, same-time documentation, and quick procedure ordering.
DocuTAP Practice Management (PM) software manages the patient queue, facilitates patient/doctor visits and health insurance verification in real-time, and estimates patient co-pay. The company’s urgent care-focused software suite also includes mobile-friendly analytics and reporting solutions for meaningful data and insights.
Practice Velocity, based in Rockford, Illinois, offers urgent care software, EMR/EHR, practice management systems and billing/revenue cycle management services for urgent care centers.
Experity’s new services and solutions will include patient engagement, teleradiology, business intelligence, remote patient registration and contracting/consulting.
The founders of DocuTAP recognized Sioux Falls as the perfect place to locate the company in 2000. Their foresight, along with DocuTAP’s continued and steady growth over the years has proven a good bet. The company has brought new talent and business to Sioux City, and has attracted increased attention to Sioux Falls from the local region and beyond.
Matt Blosl, Chief Revenue Officer for DocuTAP, will take on the same role at Experity. He discussed how the deal came about, and how it is benefitting the company, its customers, and the community.
“We’ve been actively working on this for two years. The conversations go back a long time, and merging with Practice Velocity was compelling from the very beginning. Practice Velocity and DocuTAP are complementary businesses in terms of culture, product, and customers, and the industrial logic behind the transaction made sense. DocuTAP and Practice Velocity’s current customers remain our number one priority, and now we can amplify our effect. We have been using resources to compete with each other, and this merger enables us to devote them to innovation on a much greater scale.”
He added, “I am personally very excited for both companies, as well as the rich career opportunities realized by this merger for the current 650 Experity employees, and the company’s future talent. The additional products and services that we will develop and acquire as a larger company are significant. In addition, this merger brings together two top-notch Midwest companies and shines a spotlight on the vibrant and successful Sioux Falls and Rockford communities. This draws national attention to what Midwest companies can achieve.”
Experity will provide the most comprehensive IT service in the on-demand care space and will serve more than 4,000 clinics across the U.S. The company will be uniquely positioned to simplify the on-demand care experience and improve patient experience in an increasingly popular model of care. The company will maintain its existing locations and teams in Sioux Falls, South Dakota, Atlanta, Machesney Park, Illinois, Phoenix, and St. Louis.
Visit experityhealth.com to learn more about Experity.
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