KNOXVILLE, Tenn. & PORTLAND, Ore.--(BUSINESS WIRE)--PracticeTek, a leading provider of software and payments solutions to the retail healthcare market, today announced it has acquired GrowthPlug, a practice marketing platform.
The acquisition adds GrowthPlug to PracticeTek’s thriving ecosystem of healthcare software companies, enabling GrowthPlug to turbocharge innovation and accelerate growth. GrowthPlug will continue to be led by CEO Sudhir Bhatti, COO Shavita Bhatti, and the founding team. This collaboration will expand support to healthcare practices in acquiring and serving patients with an all-in-one practice SaaS solution.
GrowthPlug provides mobile-optimized websites, business listings management, social media publishing, reputation management and intelligent analytics, helping doctor’s offices to turbocharge their digital presence and accelerate revenue. With tremendous recent growth in its customer base, GrowthPlug offers an AI-driven software platform enabling practices to automate their front desk operations and accelerate patient acquisition. The company was initially founded in Silicon Valley in 2016 and moved to Portland, Oregon, in 2019 after securing a $1 million investment from Elevate Capital, which exits its interest with this transaction.
“PracticeTek has a proven method for identifying breakout startups with innovative solutions and helping them scale to meet the critical needs of healthcare providers,” said Sudhir Bhatti. “We are excited to partner with other amazing healthcare software organizations to help healthcare practices modernize, automate, and grow successful businesses.”
“We’ve been fascinated by the growth journey of GrowthPlug and see its unique capabilities as complementary to our solution suite of practice marketing and automation,” said Eric Leaver, CEO of PracticeTek. “Independent healthcare practices are increasingly focused on growing their patient base, as well as having a unified online presence. GrowthPlug is a market leader in this category and is well-positioned to capitalize on the wave of digitization in practice software.”
Nitin Rai, Founder and Managing Partner of Elevate Capital, added: “We are so proud of Sudhir, Shavita, and the entire GrowthPlug team for their achievements and the great returns provided to Elevate Capital in just three short years. Elevate Capital’s investment in GrowthPlug supported their move from Silicon Valley to Beaverton, Oregon, and since then, it’s been an incredible and big win for Beaverton’s startup ecosystem.”
In 2021, GrowthPlug was featured in Forbes as a Top Tech and AI innovator. A year earlier, the company was named TiE50 Award Winner at TiEcon 2020. GrowthPlug has been backed by Elevate Capital prior to the PracticeTek transaction, which was led by board members Nitin Rai and Doug Knopper. PracticeTek is backed by investors Lightyear Capital and Greater Sum Ventures.
Sampford Advisors acted as investment banking advisor to GrowthPlug.
PracticeTek was established by investors and entrepreneurs who came together with a vision for the future of healthcare: high-quality care delivered seamlessly and on demand, without the burden and confusion of traditional systems. The company is a collection of best-in-class software solutions that serve the retail healthcare market, including dental, orthodontic, chiropractic, optometry, and dermatology practices. Its solutions empower allied professionals to connect with their patients and grow their business. The result is better care, lower workloads for staff, and less overhead costs for practitioners — which means more resources for improving patient care. For more information, visit PracticeTek.com.
GrowthPlug helps healthcare practices become modern, efficient and accelerate their patient acquisition by delivering an all-in-one practice growth and automation software powered by AI. GrowthPlug is radically changing the way today's healthcare practices grow, manage and retain patients. GrowthPlug was founded in Silicon Valley and has its U.S. offices in San Jose, California, and Portland, Oregon. To learn more, visit GrowthPlug.com.