As we told you last month, the private equity firm Warburg Pincus had big plans to merge DocuTAP and Practice Velocity, the two leading technology and services companies serving the urgent care marketplace. That goal has now been realized in the form of Experity, whose mission will be to continue to support and invest in all the current software platforms and services previously provided by the merging companies while offering customers—some 4,000 clinics across the country—access to new services and solutions, such as patient engagement, teleradiology, business intelligence, remote patient registration and contracting/consulting. David Stern, MD, CEO of Practice Velocity, will serve as CEO of Experity. Stern called the merger “a reflection of industry growth and the need for solutions that can further power the patient-centered healthcare revolution.” Warburg Pincus led the financing for the transaction. Teleradiology Specialists, Clockwise MD, Urgent Care Consultants, The Journal of Urgent Care Medicine, and the Institute of Urgent Care Medicine are also part of the deal. Experity will maintain its existing locations and teams in Sioux Falls, SD, Atlanta, Machesney Park, IL, and Phoenix as the company continues to drive strategic growth across offices.
It’s Official: Practice Velocity + DocuTAP = Experity, Reflecting the Rise of the On-Demand Market