Cincinnati-based PatientPoint has merged with Chicago’s Outcome Health to create PatientPoint Health Technologies, a huge DOOH media network focused on physician-patient environments.
The combined company, which primarily does screens in waiting rooms, has a reach of nearly 150,000 unique healthcare providers, and a potential audience of roughly 750 million people annually.
“This timely, strategic transaction both underscores our commitment to growth, and to offering our high-value, tech-enabled patient engagement solutions to as many providers as possible to help them meet the demands of a rapidly evolving healthcare industry,” says PatientPoint Founder and CEO Mike Collette. “By leveraging the best talent and technology from both PatientPoint and Outcome Health, we will be well positioned to expand our suite of innovative patient engagement solutions to deliver improved patient outcomes and a more personalized, relevant patient experience as well as enhanced scale and efficiency for our healthcare sponsors.”
The leadership team’s makeup clearly suggests this was a PatientPoint-led deal, with the new company mostly run by PatientPoint’s current leadership team, including the CEO, CFO, Chief Client Officer and Chief Provider Officer, whatever the hell that last one is (ops?). PatientPoint’s engineering and information technology teams will also be augmented by Outcome Health tech executives Glenn Keighley and Sean Barden.
“We have great respect for the substantial provider network the Outcome Health team has built as well as the compelling solutions they have developed to enrich the patient’s point-of-care experience,” Collette says. “We also commend CEO Matt McNally and COO Nandini Ramani for leading Outcome Health’s incredible turnaround and rebuilding client trust.”
In other words, buh-bye.
The turnaround and trust things are references to Outcome’s rough ride in recent years. The company started as Context Media and then re-branded as Outcome, attracting some top-tier investors and even securing naming rights to a Chicago skyscraper.
That high-flying run ended 2-3 years ago as Outcome’s execs – including the founders – were the subject of a federal investigation and subsequent fraud charges and multi-million dollar fines.
The combined entity will be majority owned by a group of investors including funds managed by L Catterton and Littlejohn & Co., LLC.