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Simplepractice Announces Strategic Purchase Of Assets Of Luminello

Aug 03, 2023•about 2 years ago

Acquiring Company

SimplePractice

Acquired Company

Luminello

Health Care

Description

SimplePractice, an EngageSmart (NYSE: ESMT) solution and industry-leading platform simplifying the health and wellness experience for more than 178,000 solo and small group practitioners, announced it has entered into a strategic agreement to acquire assets of Luminello, an electronic medical record and practice management platform supporting thousands of solo and small group psychiatrists, psychiatric nurse practitioners, psychologists and other prescribing medical professionals.

Company Information

Company

SimplePractice

About

SimplePractice, an EngageSmart healthcare solution, is the industry-leading platform simplifying the health and wellness experience for both the practitioner and patient. SimplePractice supports health and wellness providers in their journey from starting to growing a thriving practice. More than 178,000 providers trust SimplePractice to build their business through industry leading software, ongoing education and powerful tools that connect them to clients seeking care. Clients can find and request an appointment directly with the right therapist and manage their care all in one place. Recognized by Built In as one of the Best Midsize Companies to Work For in Los Angeles in 2022, SimplePractice is proud to pave the future of healthtech. To learn more, visit SimplePractice.com, or join the conversation on LinkedIn, Instagram, Facebook, and Twitter.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed