Toronto healthtech startup OnCall Health has been acquired by Qualifacts, a United States SaaS provider of electronic health record (EHR) platforms, for an undisclosed amount.
OnCall represents Qualifacts’ newest subsidiary, as the latter has been building out its product suite through previous acquisitions.
Founded in 2016, OnCall’s technology allows healthcare enterprises to launch their own virtual care platform that is configurable to their brand and workflow. The startup offers a real-time virtual care analytics dashboard, automated patient triage, self-scheduling, payment processing, insurance billing, and online prescriptions.
“This partnership should enhance care teams’ efficiency and expand customer access for quality care and improved lives.”
– Nicholas Chepesiuk, OnCall Health CEO
Led by CEO Nicholas Chepesiuk, OnCall claims that it has hosted over one million virtual healthcare consults. Prior to its acquisition, OnCall has raised about $10.5 million CAD to date, which includes a $2 million seed round in 2019 and $7.9 million in Series A financing in 2020.
As of 2020, OnCall had worked with over 600 healthcare organizations and more than 7,000 primary care, mental health, and paramedical service providers in North America.
By acquiring OnCall, Qualifacts said that it is doubling down on its commitment to simplify workflows for behavioural health providers, and allow them to offer a modern telehealth experience to patients with a client portal and additional engagement opportunities.
“Our values and passion for serving the behavioral health market align perfectly, and this partnership should enhance care teams’ efficiency and expand customer access for quality care and improved lives,” said Chepesiuk.
Based in Tennessee, Qualifacts provides behavioural health software for clinical productivity, compliance and state reporting, billing, and business intelligence. It was acquired by private equity firm Warburg Pincus from previous investor Great Hill Partners in 2019.
Healthtech deal activity and invested capital surged in 2021, with an increase in transactions designed to consolidate care solutions. Companies are looking to merge through partnerships or vertical integrations with a focus on building a stronger relationship between patients and providers, accessible care, and delivering a tailored experience.
Except for its own electronic health record platform named CareLogic, most of Qualifacts’ product suite came as a result of its previous acquisitions. In 2020, Qualifacts merged with behavioural health tech firm Credible, which offers billing, data analytics, telehealth, and more. Last year, Qualifacts also acquired InSync Healthcare Solutions, which provides EHR and practice management software, in addition to revenue cycle management services for behavioral, medical and rehabilitative professionals.
A notable Canadian example of healthtech consolidation is Telus, which has bought a number of startups to builts its healthcare practice.
Feature image courtesy OnCall Health.