Press Ganey Acquires and Binary Fountain

Press Ganey, a care-quality services firm known for distributing patient satisfaction surveys, announced the acquisition of two digital health companies – and Binary Fountain, for an undisclosed amount., a digital marketing automation and booking platform that helps doctors manage their consumer-facing online data. The New York-based company has been active since 2012 and raised just over $10 million.

Binary Fountain is an online provider brand-management platform that helps customers ensure that their listings include accurate information, analyze trends in online reviews, and boost exposure. The Virginia company has also been around since 2012 raised a total of $16 million.

“Health care consumerism has fundamentally changed the way patients seek, obtain, and interact with health care,” said Patrick T. Ryan, Chairman, and CEO, Press Ganey. “Now, for the first time, a single partner can provide health systems with the comprehensive engagement of their caregivers and their patients and communities. This will offer an unprecedented understanding of the patient journey and a robust, value-based, modern, and efficient customer experience while also improving physician retention and recruitment efforts.”

According to Press Ganey, the expanded platform manages all aspects of providers’ online presence through physician data management, seamless Web-wide listings management, turnkey provider directories, online scheduling, review monitoring, artificial intelligence, and proprietary analytics.

“By combining the consumer experience expertise and technology at with the unmatched depth of patient experience, workforce engagement, safety, and clinical quality data at Press Ganey, health systems, hospitals, and providers will be able to drive efficient and effective patient acquisition and retention efforts,” added Ryan.

In 9M 2020, there were 132 Digital Health M&A transactions compared to 125 transactions in 9M 2019, according to Mercom’s latest Digital Health Funding and M&A report. Recently, Clearwave, a digital check-in and eligibility verification solutions for the healthcare industry, announced the acquisition of Odoro, the maker of a patient-scheduling and check-in tool used by healthcare providers, physician practices, and healthcare systems.

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