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424 Capital Completes Investment in SaaS Provider Practis

January 02, 2020, 09:00 AM
Filed Under: Software

424 Capital, a lower-middle market growth capital partner, announced that it has completed an investment in Practis Incorporated, a digital marketing and SaaS software solutions company catering to independent healthcare providers.

Together with Eagle Private Capital and Plexus Capital, 424 Capital purchased a majority share from Founder Elizabeth Pettrone and CEO John Pettrone Jr., who will both remain investors and active managers in Practis.

Founded in 1998, Practis provides secure and comprehensive internet marketing solutions that enable medical groups, hospitals, and healthcare companies to exceed their patient engagement and acquisition goals. With over 700 customers today, the company has developed a strong foundation by offering several proprietary software tools which enable it to serve a large client base at low costs.

"Practis' compliance-centric software and services help private practices market themselves, attract new patients, and run their offices more effectively in the everchanging healthcare regulatory environment," said Amit Nagdev, Principal at 424 Capital. "Practis presents an opportunity to acquire unique intellectual capital covering an array of healthcare specialties. With a stable, recurring, and growing customer base across the small physician segment today, we will work with management to continue to accelerate into new markets and expand its services offering amongst current clients."

"424 Capital has extensive experience and strong industry knowledge in both healthcare and marketing agency services," said CEO John Pettrone Jr. "The natural fit is why we are excited to partner with 424 Capital while continuing to provide the highest level of services to our existing customer base. Through this partnership, we expect to enhance our sales and marketing initiatives and continue to expand our footprint in the healthcare digital marketing industry."

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