Brookfield, WI and Montebello, NY, June 08, 2021 /PRNewswire/ – Procurement Partners, a leading provider of procure-to-pay (P2P) solutions for post-acute care and senior living communities, today announced it has acquired New York-based On.Care, a leading e-procurement solution provider to skilled nursing and assisted living facilities nationwide. The combination of the two companies yields one of the largest Procure-to-Pay organizations in healthcare.
Procurement Partners drives meaningful procurement savings for its customers through its proprietary e-procurement platform, which provides an automated end-to-end purchasing solution, encompassing the full purchasing cycle – from product selection to vendor payment. Joining forces with On.Care unlocks additional cross-sell opportunities while expanding the combined companies’ robust vendor base and tech expertise.
“We are incredibly excited to bring On.Care into the Procurement Partners family and leverage their expertise and success as a highly-respected procure-to-pay provider,” said Rusty Zosel, CEO of Procurement Partners. “Our aligned values of listening to our customers and developing best-in-class technology solutions are very important to us and we look forward to building upon their impressive record of customer satisfaction, and creating an even stronger story together,” he added.
The Procurement Partners platform improves savings through its 100% invoice digitization, removing the need for manual and paper keying. The platform also offers a compliance audit feature, which can help reduce bottom-line vendor spend for its customers. The combined company plans to continue to support and invest in both e-procurement platforms while identifying additional synergies to maximize growth.
“We built On.Care from literally the ground up, and we are thrilled that our two decades of hard work and focus have attracted such a reputable partner,” said Sam Schwartz, CEO of On.Care. “We are confident that our future with Procurement Partners will help take what my brother and I envisioned for the company to the next level and I am excited to start building that future now,” he added.
The acquisition is backed by Serent Capital, a growth-focused firm that invests in technology and tech-enabled services companies. Terms of the deal were not disclosed.
Since 2010, Procurement Partners has been leading the business commerce evolution with its procure-to-pay (P2P) solution. The complete procurement and transaction automation portal, built and supported by Procurement Partners, reduces off-contract spending, and drives efficiency to purchase processes while automatically auditing every invoice. The significant amount of flexibility of the Portal, the ability to capture 100% of invoices, and the capability to service customers and vendors of all sizes have made Procurement Partners one of the fastest-growing P2P solutions in multiple markets. Learn more at http://www.procurementpartners.com.
Founded in 2004 in Montebello, New York, On.Care provides Skilled Nursing Facilities a comprehensive and user-friendly purchasing and invoicing system, making the process of purchasing products for all categories needed by SNFs easy and accessible. On.Care provides full-service customer support at every step, from implementation of the software to helping with daily tasks. On.Care’s goal is to help all SNFs reach their budget, productivity and efficiency peak, ultimately allowing them to offer the best service they can to their patients.
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers’ needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. At Serent Capital, principals have firsthand experience capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive. For more information on Serent Capital, visit www.serentcapital.com.