WebPT

Last updated
WebPT, Inc.
Type Private Company
Industry
Founded2008;15 years ago (2008)
Founders
  • Heidi Jannenga
  • Brad Jannenga
Headquarters,
Key people
  • Ashley Glover (CEO)
  • Heidi Jannenga (Co-Founder & CCO)
Products
Website webpt.com

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]

Contents

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

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]

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References

  1. Henry, Zoe (7 October 2014). "The 10 Fastest-Growing Private Companies in Phoenix". Inc.com. Inc. Retrieved 6 March 2015.
  2. 1 2 3 "WebPT About". Inc. WebPT.
  3. "WebPT Acquires Major Competitor". WebPT.com. WebPT. Retrieved 6 March 2015.
  4. "WebPT Inc. 5000 Profile". Inc.com. Inc. Retrieved 6 March 2015.
  5. "WebPT Great Places to Work Certification". Phoenix Business Journal. Phoenix Business Journal. Retrieved 6 March 2015.
  6. "She Was a Physical Therapist for NBA and Women's Soccer Athletes. Then She Started a $100 Million Software Business". Inc.
  7. "Valley software company WebPT names new CEO". AZInno. AZInno.
  8. Wagner, Eric T. (9 October 2012). "Match.com Hatches a Marriage, Baby and $9 Million Dollar Company". Forbes. Retrieved 6 March 2015.
  9. O'Grady, Patrick (15 June 2012). "WebPT buys Health Data Solutions, expands billing market". Phoenix Business Journal. Phoenix Business Journal. Retrieved 6 March 2015.
  10. "WebPT to Offer Customers Exclusive Savings on Therapy Products with Marketplace". BusinessWire.
  11. 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.
  12. 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.
  13. "WebPT adds patient relationship management platform with new acquisition". Phoenix Business Journal.
  14. "WebPT acquires its largest company yet". Phoenix Business Journal.
  15. Cooper, Laura (27 August 2019). "Warburg Pincus Takes Majority Stake in WebPT" . The Wall Street Journal .
  16. "WebPT acquires competitor Clinicient, cementing Valley startup's role as market leader". Phoenix Business Journal.