The Healthcare Communication space is starting to get really interesting. What started as a bunch of secure text companies battling it out is now expanding to a full Secure Communication Platform for healthcare with companies starting to battle it out for market share. It makes sense that if you have a secure communication platform, there’s a lot of value in having a certain amount of scale that allows providers and patients to more easily communicate across the full spectrum of healthcare.
That’s what I see happening with the latest news that PerfectServe has acquired Telmediq. The combined companies have more than 500,000 clinical users across 250 hospital sites and 27,000 physician practices. Plus, my guess is backed by the private equity firm, K1 Investment Management, this is just the start.
To get some background on what brought PerfectServe and Telmediq together and where they plan on taking the combined companies, I sat down with Terry Edwards, President and CEO of Perfectserve, and Ben Moore, CEO and Founder of Telmediq, to talk about the acquisition.
If you want more information on the acquisition, you can read the official press release announcement below. Also, if you want to see the video interview we did with Ben Moore that he mentions in the video above, you can do so here.
PerfectServe Acquires Telmediq, #1 KLAS Rated Vendor for Secure Communication Platforms
Poised to offer customers the most comprehensive care team collaboration solution on the market
KNOXVILLE, Tenn.—Jan. 16, 2019—PerfectServe®, a leading provider of cloud-based clinical communication and collaboration (CC&C) solutions, today announced the acquisition of Telmediq, the top-rated KLAS vendor for secure communication platforms in 2018. The Telmediq acquisition follows an investment last year in PerfectServe by K1 Investment Management (K1), a leading private equity firm focused on high-growth enterprise software companies. The combined power of PerfectServe and Telmediq to connect physicians and nurses across the healthcare continuum creates a clear choice for healthcare organizations looking for wide-ranging CC&C functionality, higher service levels and the latest advancements in technology.
Together, PerfectServe and Telmediq represent the most comprehensive set of CC&C capabilities in the market today. The company will support both solutions going forward, taking advantage of each platform’s cloud-based, service oriented architecture (SOA) to integrate complementary features. This will allow clients to keep their current infrastructure and enhance workflows with modular deployment of new capabilities.
Telmediq is deployed across 300 healthcare organizations and 80,000 users. With its call center solution, nurse mobility, advanced alert and alarm management capabilities, mass notification functionality, and strong customer relationships, this platform brings unmistakable value to the PerfectServe portfolio. Combined, PerfectServe and Telmediq have more than 500,000 clinical users across 250 hospital sites and 27,000 physician practices and post-acute care organizations.
The Telmediq acquisition marks an important step in the company’s strategy to build the industry’s first true care team collaboration platform – one that unifies the entire care team across the continuum, from inpatient, to outpatient, to patients at home. K1’s backing will facilitate rapid growth, product innovation and customer success initiatives, accelerating PerfectServe’s mission to help clinicians provide the best, most efficient patient care possible and thrive under value-based care.
“In addition to heavy investments in product development over the past several years, the Telmediq acquisition is a key element of our strategy to build the care team collaboration platform of the future – designed to serve all care team members, including the patient,” said Terry Edwards, President and CEO, PerfectServe. “Our vision is to build a platform that is separate from, transcends, and is fully integrated with the EHR and all other point-of-care technologies. The goal is to make it easy for clinicians to overcome persistent care coordination challenges that have existed in the industry for years.”
“We’re very excited to be part of the PerfectServe team,” said Ben Moore, CEO and Founder of Telmediq. “This partnership will accelerate our product development goals to deliver even greater functionality to clinicians and the patients they serve.” Moore will join the PerfectServe leadership team in the role of Chief Product Officer and play a key role in the strategic direction and integration of the two companies.
“With PerfectServe, we have improved the communication of important patient information and expedited our response to changing patient conditions,” said Dr. Ted Daniel, CMIO at Ascension St. John Providence Health System, Warren, Michigan. “We are in the midst of expanding our deployment of PerfectServe’s communication platform to build upon our past successes and look forward to their plans to grow the solution suite. I think the industry is only beginning to realize the potential of a CC&C solution in facilitating value-based care across the patient’s entire care experience.”
PerfectServe’s goal is to deliver existing and up-to-date information to the point of care to help the healthcare system connect, communicate and collaborate more effectively, in a manner that significantly improves the patient experience. According to Gartner’s Strategic Roadmap to the Real-Time Health System (Barry Runyon & Gregg Pessin; June 18, 2018), “the RTHS uses information and communications technology to transform the business of care delivery in a manner that reduces the time in which patient information and medical knowledge is collected, understood, analyzed, shared and applied.”
PerfectServe is building healthcare’s most advanced communication and collaboration solution to unify the entire care team across the continuum – from inpatient, to outpatient, to patients at home. The secure platform uses advancements in mobility, AI and analytics to optimize scheduling, automate clinicians’ communication-driven workflows, eliminate non-clinical tasks and decrease clinician burnout, resulting in quicker time to treatment and superior patient outcomes. PerfectServe’s scalable cloud-based architecture is not affected by on-site outages, allowing the 500,000-plus clinicians who rely on the platform for clinical communication to focus on delivering the best patient experience possible. Headquartered in Knoxville, Tennessee, PerfectServe has helped clinicians provide better care since 2000.
Telmediq is the #1 KLAS rated vendor for secure communication platforms for large hospital systems, acute-care and ambulatory facilities. Telmediq unifies communication by integrating 20+ clinical systems (EHR, schedules, call center, alarms, nurse call) to improve workflow and connect care team members. To learn more about the unique and recurring use cases of Telmediq in acute and ambulatory settings, download our Guide.
About K1 Investment Management
K1 is a leading investment firm focusing on high-growth enterprise software companies globally. K1 seeks to help dynamic businesses achieve successful outcomes by identifying and executing organic and acquisition-based growth opportunities that position its companies as industry leaders. K1 typically invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. K1’s investments vary in the level of ownership in order to meet the needs of entrepreneurs and managers. Representative past and present portfolio companies include industry leaders such as Apttus, Buildium, Certify, Checkmarx, Chirotouch, Granicus, IronScales, Litera Microsystems, RFPIO, Smarsh and Workforce Software. For more information about K1, please visit www.k1capital.com or https://www.linkedin.com/company/k1im.