PointClickCare has shuffled its executive team, with founding CEO Mike Wessinger moving to the executive chair role as his co-founder and brother, Dave Wessinger, takes over as CEO.
The leadership change is one of the most notable the company has made in its more than 20-year history as Mike Wessinger has been at PointClickCare’s helm since he founded it alongside Dave Wessinger in the late nineties.
Chief Strategy Officer Julieann Esper Rainville is set to take over Dave Wessinger’s role as president as part of the shuffle, which is set to take effect on September 1. PointClickCare’s current board of directors chairman, Bill Dillane, who has been in the role for more than 20 years, will remain on the board as vice-chair.
“I strongly believe that the company’s vision and portfolio of technology offerings are highly differentiated in the market.”
“I’m incredibly proud to have grown PointClickCare into the organization it is today since co-founding it with my brother over 20 years ago,” said Mike Wessinger. “It’s humbling to have built a company so relentlessly committed to advancing underserved areas of the healthcare ecosystem and to have filled it with people, partners and customers who believe fully in the opportunity that lies ahead.”
Regarding Mike Wessinger’s shift to the executive chair, Dave Wessinger told BetaKit. “We believe this change in structure not only allows for orderly succession and good governance of the organization, but also creates room below Mike for other leaders to grow and develop.”
“As we approach our next critical stage of growth, we will be met with rapid technological innovation and higher-than-ever expectations of technology and healthcare, making this the optimal time for us to leverage Mike and his expertise to take on a more externally facing strategic role,” added Dave Wessinger.
PointClickCare provides software solutions for the post-acute care and senior markets (LTPAC) that include care delivery management, financial management, and access to patient data. The company claims to serve more than 21,000 acute and post-acute care providers across North America and more than 1.300 hospitals. According to LinkedIn it employs more than 1,500 people, the majority of which are based in Canada.
“I strongly believe that the company’s vision and portfolio of technology offerings are highly differentiated in the market, giving us a strong advantage as we prepare to expand into a dynamic marketplace,” said Esper Rainville. “We are relentless in our pursuit to disrupt the status quo and I look forward to drawing on our proven track record in the senior care continuum to help lead an incredible team that is creating meaningful change in healthcare.”
The change in leadership follows a strategic minority investment secured at the start of 2020. The undisclosed capital investment came from Hellman & Friedman and existing investor Dragoneer Investment Group, and reportedly brought PointClickCare a $4 billion USD valuation. The deal saw Hellman & Friedman partner Sameer Narang join PointClickCare’s board of directors.
Crunchbase data puts PointClickCare’s total funding to date somewhere north of $230 million. San Francisco-based Dragoneer has made three investments in PointClickCare, including its first investment in 2017 alongside JMI. JMI’s first investment into PointClickCare totalled $50 million and took place in 2011. Following the recapitalization of the strategic minority investment this year, JMI is said to remain a shareholder in the company.
PointClickCare has also been active in the merger and acquisition market. Over the past couple of years, it has purchased Utah-based Collective Medical, analytics solution Co-Pilot, and medical management tool for the long-term and post-acute care market, QuickMAR.
UPDATE 11/08/2021: This article has been updated with commentary from Dave Wessinger.