WebPT is a Phoenix, Arizona-based company that provides web-based electronic medical record (EMR) systems for physical therapists, occupational therapists, and speech-language pathologists.[1][2] In addition to its patient documentation software, WebPT offers systems for billing, scheduling, and practice management.[2] As of December 2022, more than 155,000 rehab therapists across more than 27,000 clinics used WebPT’s system.[3]
| Company type | Private Company |
|---|---|
| Industry | |
| Founded | 2008 |
| Founders |
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| Headquarters | , |
Key people |
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| Products | |
| Website | webpt |
WebPT was named to the Inc. 5000 list of the "fastest-growing private U.S. companies" for nine consecutive years from 2013 to 2021.[4] The company was also Great Places to Work Certified as of March 2022.[5]
History edit
WebPT was founded in 2008 by Heidi Jannenga and Brad Jannenga.[2] Heidi managed several physical therapy practices, which helped spark the idea for a cloud-based software that would streamline therapists’ documentation processes. [6] Today, Heidi remains at the company as co-founder and Chief Clinical Officer and Ashley Glover is its CEO.[7]
In 2010, the startup received a $1 million funding round from Canal Partners, led by Jim Armstrong.[8]
To expand its billing system, WebPT acquired Health Data Solutions in 2012, a revenue cycle management business that provided billing services primarily to physical therapists and chiropractors.[9]
In 2013, WebPT launched the WebPT Marketplace, an e-commerce site with the goal of selling clinical supplies to WebPT customers at reduced rates.[10]
In June 2014, WebPT received an undisclosed investment from venture capital firm Battery Ventures.[11] Five months later, WebPT acquired WebOutcomes, an online outcomes tracking tool offering evidence-based tests that physical and occupational therapists use to collect objective patient data.[12]
In 2017, WebPT acquired Strive Labs, Inc. a Boston-based company that provided patient relationship management and home exercise technology.[13] The following year in 2018, WebPT acquired Upland, California-based BMS Practice Solutions, a revenue cycle management software company for rehab therapists.[14]
In August 2019, private equity firm Warburg Pincus signed an agreement to buy a majority stake in WebPT from Battery Ventures.[15]
In January 2022, WebPT acquired Oregon-based Clincient, another physical therapy EMR software and its subsidiary Keet Health.[16]
References edit
- ^ Henry, Zoe (7 October 2014). "The 10 Fastest-Growing Private Companies in Phoenix". Inc.com. Inc. Retrieved 6 March 2015.
- ^ a b c "WebPT About". Inc. WebPT.
- ^ "WebPT Acquires Major Competitor". WebPT.com. WebPT. Retrieved 6 March 2015.
- ^ "WebPT Inc. 5000 Profile". Inc.com. Inc. Retrieved 6 March 2015.
- ^ "WebPT Great Places to Work Certification". Phoenix Business Journal. Phoenix Business Journal. Retrieved 6 March 2015.
- ^ "She Was a Physical Therapist for NBA and Women's Soccer Athletes. Then She Started a $100 Million Software Business". Inc.
- ^ "Valley software company WebPT names new CEO". AZInno. AZInno.
- ^ Wagner, Eric T. (9 October 2012). "Match.com Hatches a Marriage, Baby and $9 Million Dollar Company". Forbes. Retrieved 6 March 2015.
- ^ O'Grady, Patrick (15 June 2012). "WebPT buys Health Data Solutions, expands billing market". Phoenix Business Journal. Phoenix Business Journal. Retrieved 6 March 2015.
- ^ "WebPT to Offer Customers Exclusive Savings on Therapy Products with Marketplace". BusinessWire.
- ^ Ringle, Hayley (9 July 2014). "Phoenix's WebPT looks to hire 150 with new office planned in historic downtown Phoenix building". Phoenix Business Journal. Phoenix Business Journal. Retrieved 6 March 2015.
- ^ Ringle, Hayley (4 November 2014). "WebPT stretches closer to becoming SalesForce of physical therapy with latest acquisition". Phoenix Business Journal. Phoenix Business Journal. Retrieved 6 March 2015.
- ^ "WebPT adds patient relationship management platform with new acquisition". Phoenix Business Journal.
- ^ "WebPT acquires its largest company yet". Phoenix Business Journal.
- ^ Cooper, Laura (27 August 2019). "Warburg Pincus Takes Majority Stake in WebPT". The Wall Street Journal.
- ^ "WebPT acquires competitor Clinicient, cementing Valley startup's role as market leader". Phoenix Business Journal.