Press Ganey acquires and majority stake in Binary Fountain

Boston-based patient experience company Press Ganey acquired, a marketing automation platform for medical practices.

It also acquired a majority stake in Binary Fountain, which has an online reputation management platform. 

The combination of the two solutions will make its healthcare consumerism platform the largest in the industry, Press Ganey officials said in an announcement about the deals this week. The platform will be aimed at helping health providers drive digital patient acquisition, retention and reputation management, they said.

“Health care consumerism has fundamentally changed the way patients seek, obtain, and interact with health care,” said Patrick Ryan, chairman and CEO of Press Ganey, in a statement. “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.”

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New York-based was founded in 2013 by Gary Millin, Andrei Zimiles and Reed Mollins and is backed by leading investors including Spring Mountain Capital, Colle Capital Partners, World Media Group and StartUp Health. McLean, Virginia-based Binary Fountain was founded in 2003 by Ravi Gopalan. Backers include HLM Venture Partners, Providence Health & Services and Pioneer Venture Partners. 

Officials did not disclose terms of the transactions.

They cited changes in consumer behavior in accessing the health care system, including the massive growth in telehealth services, amid the COVID-19 pandemic as an example of the shifts that make a combined tool useful to healthcare customers.

The new platform will manage all aspects of providers’ online presence through physician data management, web-wide listings management, provider directories, online scheduling, and advanced review monitoring, artificial intelligence and proprietary analytics, officials said.