WebPT

Last updated
WebPT, Inc.
Company type Private Company
Industry
Founded2008;16 years ago (2008)
Founders
  • Heidi Jannenga
  • Brad Jannenga
Headquarters
Phoenix, Arizona
,
United States
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]

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. [5] Today, Heidi remains at the company as co-founder and Chief Clinical Officer and Ashley Glover is its CEO. [6]

In 2010, the startup received a $1 million funding round from Canal Partners, led by Jim Armstrong. [7]

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. [8]

In 2013, WebPT launched the WebPT Marketplace, an e-commerce site with the goal of selling clinical supplies to WebPT customers at reduced rates. [9]

In June 2014, WebPT received an undisclosed investment from venture capital firm Battery Ventures. [10] 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. [11]

In 2017, WebPT acquired Strive Labs, Inc. a Boston-based company that provided patient relationship management and home exercise technology. [12] The following year in 2018, WebPT acquired Upland, California-based BMS Practice Solutions, a revenue cycle management software company for rehab therapists. [13]

In August 2019, private equity firm Warburg Pincus signed an agreement to buy a majority stake in WebPT from Battery Ventures. [14]

In January 2022, WebPT acquired Oregon-based Clincient, another physical therapy EMR software and its subsidiary Keet Health. [15]

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