Warburg Pincus, a leading global private equity firm focused on growth investing, plans to merge DocuTAP and Practice Velocity—the two leading technology and services companies serving clinics in the urgent care marketplace. David Stern, MD, CEO of Practice Velocity will serve as CEO of the combined company. Eric McDonald, CEO of DocuTAP, will assume a new role as a board member and strategic advisor for the merged business. The teams plan to announce more details in a live-streamed event during the Urgent Care Association’s annual meeting on Monday, April 8. Further merger details will be reported in the coming days as JUCM learns more. DocuTAP and Practice Velocity are recognized as the leading providers for electronic medical record software and revenue cycle management in urgent care. The new organization will serve more than 4,000 urgent care and on-demand primary clinics across the U.S., significantly increasing its market share and impact in the healthcare space. Warburg Pincus led the financing for the transaction. No other financial details have been disclosed.
(Disclosure: Braveheart Group, the independent publisher of JUCM, is owned by Practice Velocity.)