WebPT

Short description: Electronic medical records service

WebPT, Inc.Type| Private Company

|

Industry|

* Healthcare Information Technology
* Health informatics

Founded| 2008; 18 years ago (2008)
Founders|

* Heidi Jannenga
* Brad Jannenga

Headquarters|

Phoenix, Arizona

United States

Key people

* Ashley Glover (CEO)
* Heidi Jannenga (Co-Founder & CCO)

Products|

* Electronic Medical Records
* Practice Management

Website| webpt.com

WebPT is a Phoenix, Arizona-based company that provides web-based electronic medical record (EMR) systems for physical therapists, occupational therapists, and speech-language pathologists.[1][2] In addition to its patient documentation software, WebPT offers systems for billing, scheduling, and practice management.[2] As of December 2022, more than 155,000 rehab therapists across more than 27,000 clinics used WebPT’s system.[3]

WebPT was named to the Inc. 5000 list of the "fastest-growing private U.S. companies" for nine consecutive years from 2013 to 2021.[4] The company was also Great Places to Work Certified as of March 2022.[5]

## History

WebPT was founded in 2008 by Heidi Jannenga and Brad Jannenga.[2] Heidi managed several physical therapy practices, which helped spark the idea for a cloud-based software that would streamline therapists’ documentation processes. [6] Today, Heidi remains at the company as co-founder and Chief Clinical Officer and Ashley Glover is its CEO.[7]

In 2010, the startup received a $1 million funding round from Canal Partners, led by Jim Armstrong.[8]

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.[9]

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]

In June 2014, WebPT received an undisclosed investment from venture capital firm Battery Ventures.[11] Five months later, WebPT acquired WebOutcomes, an online outcomes tracking tool offering evidence-based tests that physical and occupational therapists use to collect objective patient data.[12]

In 2017, WebPT acquired Strive Labs, Inc. a Boston-based company that provided patient relationship management and home exercise technology.[13] The following year in 2018, WebPT acquired Upland, California-based BMS Practice Solutions, a revenue cycle management software company for rehab therapists.[14]

In August 2019, private equity firm Warburg Pincus signed an agreement to buy a majority stake in WebPT from Battery Ventures.[15]

In January 2022, WebPT acquired Oregon-based Clincient, another physical therapy EMR software and its subsidiary Keet Health.[16]

## References

1. ↑ Henry, Zoe (7 October 2014). "The 10 Fastest-Growing Private Companies in Phoenix". Inc.. http://www.inc.com/zoe-henry/10-fastest-growing-companies-in-phoenix.html.
2. ↑ 2.0 2.1 2.2 "WebPT About". WebPT. https://www.webpt.com/about.
3. ↑ "WebPT Acquires Major Competitor". WebPT. https://www.bizjournals.com/phoenix/news/2022/01/18/webpt-acquires-major-competitor.html#:~:text=WebPT acquires competitor Clinicient, cementing Valley startup's role as market leader&text=WebPT employs more than 800,of Clinicient in January 2022.&text=WebPT, one of Arizona's biggest,major competitor based in Oregon..
4. ↑ "WebPT Inc. 5000 Profile". Inc.. https://www.inc.com/profile/webpt.
5. ↑ "WebPT Great Places to Work Certification". Phoenix Business Journal. https://www.greatplacetowork.com/certified-company/1207429#:~:text=84% of employees at WebPT,a typical U.S.-based company.&text=Source: Great Place To Work® 2021 Global Employee Engagement Study.&text=When you join the company, you are made to feel welcome.&text=Our facilities contribute to a good working environment.
6. ↑ "She Was a Physical Therapist for NBA and Women's Soccer Athletes. Then She Started a $100 Million Software Business". https://www.inc.com/burt-helm/heidi-jannenga-webpt-physical-therapy-software-college-basketball.html.
7. ↑ "Valley software company WebPT names new CEO". AZInno. https://www.bizjournals.com/phoenix/inno/stories/news/2021/11/02/valley-software-company-names-new-ceo.html.
8. ↑ Wagner, Eric T. (9 October 2012). "Match.com Hatches a Marriage, Baby and $9 Million Dollar Company". Forbes. https://www.forbes.com/sites/ericwagner/2012/10/09/match-com-hatches-a-marriage-baby-and-9-million-dollar-company/.
9. ↑ O'Grady, Patrick (15 June 2012). "WebPT buys Health Data Solutions, expands billing market". Phoenix Business Journal (Phoenix Business Journal). http://www.bizjournals.com/phoenix/news/2012/06/15/webpt-buys-health-data-solutions.html.
10. ↑ "WebPT to Offer Customers Exclusive Savings on Therapy Products with Marketplace". https://www.businesswire.com/news/home/20130122006276/en/WebPT-to-Offer-Customers-Exclusive-Savings-on-Therapy-Products-with-Marketplace.
11. ↑ 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). http://www.bizjournals.com/phoenix/blog/techflash/2014/07/phoenixs-webpt-looks-to-hire-150-with-new-office.html?page=all.
12. ↑ Ringle, Hayley (4 November 2014). "WebPT stretches closer to becoming SalesForce of physical therapy with latest acquisition". Phoenix Business Journal (Phoenix Business Journal). http://www.bizjournals.com/phoenix/blog/techflash/2014/11/webpt-stretches-closer-to-becoming-salesforce-of.html?page=all.
13. ↑ "WebPT adds patient relationship management platform with new acquisition". https://www.bizjournals.com/phoenix/news/2017/10/05/webpt-adds-patient-relationship-management.html.
14. ↑ "WebPT acquires its largest company yet". https://www.bizjournals.com/phoenix/news/2018/02/15/webpt-acquires-its-largest-company-yet.html.
15. ↑ Cooper, Laura (27 August 2019). "Warburg Pincus Takes Majority Stake in WebPT". The Wall Street Journal. https://www.wsj.com/articles/warburg-pincus-takes-majority-stake-in-webpt-11566900001.
16. ↑ "WebPT acquires competitor Clinicient, cementing Valley startup's role as market leader". https://www.bizjournals.com/phoenix/news/2022/01/18/webpt-acquires-major-competitor.html.

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