Access Physicians, a national leader in acute subspecialty telemedicine, today announced it has secured $9.3M in a Series A round from Health Enterprise Partners (HEP), a healthcare private equity firm whose investors include some of the largest health systems and health plans in the United States.
Access Physicians is a multispecialty physician group that combines clinical workflows, peer-referenced specialists, and a world-class telemedicine experience supported with a clinical sense of urgency. Current clients include Fortune 500 healthcare enterprises, independent rural and community hospitals, regional hospital networks, and the nation's first and largest operator of micro-hospitals. The company has also received exclusive endorsements, including being the first telemedicine company to be endorsed by a hospital association. The Texas Hospital Association, the second largest in the country representing 8% of U.S. hospitals, named Access Physicians as an endorsed partner for telemedicine needs earlier this year.
"Today's health care landscape continues to change rapidly. Telehealth is no longer the future – it is the present. The Texas Hospital Association identified a dependable telehealth partner for Texas hospitals in Access Physicians and we are excited to see what they do next," said Ted Shaw, THA president and CEO.
With this investment, Access Physicians will accelerate multispecialty telemedicine deployments nationwide, building on its leadership position and the transformative clinical and financial outcomes it has achieved at 153 hospitals in 18 states.
"Since founding Access Physicians in 2013, we maintained a singular focus on our mission to deliver timely, quality care to every patient in need. As a result, we successfully reconstructed the care experience for patients, hospitals, and physicians where clinical excellence, customer service, and financial sustainability are expected," said Access Physicians CEO Chris Gallagher, M.D., FACC.
Mission alignment was a key driver in partner selection for both firms. "HEP impressed us with their partnerships and successful track record in scaling quality health services, and with how quickly they understood how our clinical practice of telemedicine is unique. Today marks an important and exciting milestone in our ability to rapidly expand our program footprint while continuing to raise the bar on quality," said Dr. Gallagher.
"Access Physicians' management team has cracked the code on how to successfully deploy acute care telemedicine at scale," said Dave Tamburri, Managing Partner at HEP, who has joined the Access Physicians Board of Directors. "We immediately recognized the pedigree of their physicians, thoughtful program design and technology, and the outcomes they've produced with their customers. We see exciting opportunities ahead for the company to deliver those clinical and financial results in new markets."
About Access Physicians
Access Physicians is the leading multispecialty physician group committed to clinical excellence through telemedicine. Founded by physicians, the company is one of the largest providers of acute subspecialty telemedicine, deployed at 153 hospitals in 18 states, having cared for over 1.3 million high-acuity patients in some of the hardest-to-serve healthcare environments. Core clinical service lines include Pulmonary & Critical Care, Acute Stroke & General Neurology, Hospitalist Medicine, Cardiology, Infectious Disease & Antibiotic Stewardship, and Maternal Fetal Medicine. Learn more at accessphysicians.com.
About Health Enterprise Partners
Health Enterprise Partners invests primarily in privately held, lower middle market companies in healthcare services and healthcare information technology. Central to HEP's strategy is its unique and extensive hospital system and health plan network, 36 members of which are investors in HEP's funds. HEP seeks to invest in companies that improve the quality of the patient experience, expand access, and reduce the cost of healthcare. For more information, please visit http://www.hepfund.com.
About Texas Hospital Association
Founded in 1930, the Texas Hospital Association is the leadership organization and principal advocate for Texas hospitals and health care systems. Based in Austin, THA enhances its members' abilities to improve accessibility, quality and cost-effectiveness of health care for all Texans. One of the largest hospital associations in the country, THA represents 452 of the state's non-federal general and specialty hospitals and health care systems, which employ some 369,000 health care professionals statewide. Learn more about THA at www.tha.org.
