January 25, 2021
The Mississauga-based healthtech company PointClickCare has closed its largest acquisition to date with its purchase of Salt Lake City’s Collective Medical. The value of the deal was estimated to be between US$500-million and US$1-billion, and was to be funded by debt, cash and equity. Goodmans LLP served as Canadian counsel to Collective Medical on the transaction.
PointClickCare is a leading cloud-based healthcare software provider to North America’s long-term post-acute care (LTPAC) and senior care industry. It fosters communication and integration between care settings to assist stakeholders in making better decisions for their businesses, residents and patients.
Collective Medical operates the largest real-time care collaboration network in the United States and unifies a patient’s entire care team to foster better patient outcomes. By joining forces with Collective, PointClickCare intends to expand its network faster and enhance its ability to offer point-of-care access to real-time patient insights.
PointClickCare has steadily engaged in acquisitions over the past two years. In 2020, it acquired the analytics solution Co-Pilot, which was developed by Consonus Healthcare. In 2019, PointClickCare acquired QuickMAR, a medical management tool.
At the time the transaction was announced, Chris Klomp, CEO of Collective Medical, stated: “We are thrilled to join forces with PointClickCare to expand our network even faster as we work to connect healthcare at scale and ensure no patient slips through the cracks of an otherwise fragmented care continuum.”
Author: Brennan Caldwell