WebPT

WebPT is a Phoenix, Arizona-based company that provides web-based electronic medical record (EMR) systems for physical therapists.[1][2] In addition to its patient documentation software, WebPT offers systems for billing, scheduling, and practice management.[2] As of February 2015, more than 43,000 rehabilitation professionals in over 7,000 clinics used WebPT’s system.[3]

WebPT was named to the Inc. 500 list of the "fastest-growing private U.S. companies" in 2013 and 2014.[4] From 2011 to 2013, the company was named one of the "Best Places to Work in the Valley" by the Phoenix Business Journal.[5][6][7] In October 2014, the company reported a three-year growth rate of 1,316 percent, making it the fastest-growing company in Phoenix.[1]

History

WebPT was founded in 2008 by Heidi Jannenga and her ex-husband, Brad Jannenga.[2] Heidi had a physical therapy practice, which helped spark the idea for the software.[2] Brad was once president and CTO and now Heidi is the president after Battery Ventures voted to remove Brad from his executive role. Nancy Ham is CEO.[8]

In 2010, the startup received a $1 million funding round from Canal Partners, led by Jim Armstrong.[9] WebPT received an undisclosed investment in June 2014 from venture capital firm Battery Ventures.[10]

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.[11] WebPT acquired WebOutcomes, an online outcomes tracking tool offering evidence-based tests that physical and occupational therapists use to collect objective patient data, in November 2014.[12]

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] The company announced a partnership with SOLS, a manufacturer of 3D-printed foot orthotics, in February 2015.[13]

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

References
  1. Henry, Zoe. "The 10 Fastest-Growing Private Companies in Phoenix". Inc.com. Inc. Retrieved 6 March 2015.
  2. O'Grady, Patrick. "WebPT carves niche in electronic medical records for therapists". Phoenix Business Journal. Phoenix Business Journal. Retrieved 6 March 2015.
  3. "WebPT: The ultimate EMR for physical therapists". WebPT.com. WebPT. Retrieved 6 March 2015.
  4. "WebPT Inc. 5000". Inc.com. Inc. Retrieved 6 March 2015.
  5. "2011 Best Places to Work in the Valley Awards Luncheon". Phoenix Business Journal. Phoenix Business Journal. Retrieved 6 March 2015.
  6. "Best Places to Work 2012" (PDF). Phoenix Business Journal. Phoenix Business Journal. Retrieved 6 March 2015.
  7. "Best Places to Work 2013". Phoenix Business Journal. Phoenix Business Journal. Retrieved 6 March 2015.
  8. "WebPT: About". WebPT. WebPT. Retrieved 6 March 2015.
  9. Wagner, Eric T. (9 October 2012). "Match.com Hatches a Marriage, Baby and $9 Million Dollar Company". Forbes. Forbes. Retrieved 6 March 2015.
  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. O'Grady, Patrick (15 June 2012). "WebPT buys Health Data Solutions, expands billing market". 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. Ringle, Hayley (4 February 2015). "WebPT steps in with 3-D print foot company". Phoenix Business Journal. Phoenix Business Journal. Retrieved 6 March 2015.
  14. Warburg Pincus acquires majority stake in WebPT, healthcareitnews.com.
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