Private equity investor Advent International plans to acquire PatientPoint, a point-of-care healthcare marketing company, along with its nationwide network of 30,000 physicians' offices and 125,000 providers.
Advent will acquire the health tech company from investor group L Catterton and Littlejohn & Co. No financial terms were disclosed.
PatientPoint's existing management team, including CEO Sean Slovenski, will continue to lead the company, with support from Advent’s "deep bench of advisors with relevant healthcare and digital expertise," the company said in a press release.
Founded in 1987, PatientPoint merged with Outcome Health in May 2021 to create one of the largest U.S. advertising networks in doctors’ offices. The company provides direct-to-patient marketing through digital screens in medical offices along with educational content and diagnostic tools to healthcare providers. The company says its platform improves health awareness and drives positive behavior changes while enabling pharmaceutical and health brand sponsors, health associations, advocacy groups and other organizations to reach highly targeted audiences.
Axios reported in June that PatientPoint was exploring a sale.
Advent oversees more than $94 billion in assets under management and has made 430 investments across 44 countries. The PE investor has made more than 50 investments in the healthcare sector including companies in pharma services, consumer health, tech-enabled services to providers and payers, and medtech and diagnostics.
The acquisition underscores Advent's conviction in the rapidly growing point-of-care market, the PE firm said, which is benefiting from strong industry tailwinds as promotional spend shifts toward more digital and measurable channels.
The company's portfolio of healthcare and technology companies include investments in Simtra BioPharma Solutions, Iodine (Waystar), Cohance Lifesciences (formed following a merger with Suven Pharmaceuticals), Definitive Healthcare, Cotiviti, Mediq, GS Capsule and Apollo Health Co.
Advent plans to support the company as it provides "increasingly targeted messaging about treatment options and advanced therapies, offering sponsors and partners more efficient, personalized, and measurable campaigns," said Chris Comenos, director at Advent.
"Given the platform's position in a patient’s healthcare journey, we also believe it has strong potential to deliver new, innovative solutions that will drive beneficial health outcomes over time," Comenos said.
The acquisition deal is "an incredible catalyst for growth," Linda Ruschau, chief commercial officer of PatientPoint, noted. “Advent gives us the resources to innovate faster, expand our reach, and deliver even more value to our clients as they look to engage audiences at the point of care and beyond," she said.
"From the beginning, PatientPoint has been committed to a clear mission: driving better health outcomes by delivering trusted, behavior-changing education in the doctor’s office, where decisions are made. With Advent, we can accelerate growth, expand our network, and continue to deliver measurable value for providers, patients, and health brands," Slovenski said in a statement.
The deal is expected to close in the fourth quarter of 2025, subject to customary regulatory approvals and closing conditions.
Jefferies and Citi served as financial advisors and Gibson, Dunn & Crutcher LLP served as legal advisor to PatientPoint. Solomon Partners served as financial advisor and Ropes & Gray LLP served as legal advisor to Advent.