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 eProcurement 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 eProcurement 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 eProcurement 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.