MISSISSAUGA, Ont. — Healthcare software provider PointClickCare Technologies Inc. has announced its intention to buy Collective Medical for an undisclosed sum.
Mississauga, Ont.,-based PointClickCare didn’t release financial details but said in an email that the deal was worth between US$500 million and US$1 billion.
PointClickCare provides software for more than 21,000 skilled nursing facilities, senior living communities and home health agencies.
The company says the addition of Salt Lake City, UT,-based Collective Medical would diversify its services for patient care with a technology platform that connects more than 1,300 hospitals and other care providers in the United States.
The deal, which is expected to close by the end of the month subject to regulatory approvals, follows an August 2019 partnership between the companies that streamlined integration of the PointClickCare and Collective Medical platforms.
The announcement comes one day after the release of a report from long term care facility operator Revera Inc., which highlights shortcomings in the public health system’s handling of the COVID-19 pandemic.
“Our mission is to improve the lives of seniors, and we believe the best way to meaningfully advance this goal is by connecting disparate points of care, Mike Wessinger, founder and chief executive officer of PointClickCare Technologies, said in a statement Tuesday.
This report by The Canadian Press was first published Dec. 8, 2020.
The Canadian Press