Procurement Partners, which works in procure-to-pay (P2P) solutions for post-acute care and assisted living facilities, has bought New York-based On.Care, a press release said Tuesday (June 8).
On.Care is an eProcurement provider for nursing and assisted living facilities.
With the acquisition, Procurement Partners has created one of the biggest procure-to-pay organizations in healthcare.
“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.”
By joining forces with On.Care, Procurement Partners has added more sales opportunities and expanded its base of vendors.
The Procurement Partners platform allows for invoice digitization, which gets rid of the need for things like manual and paper practices.
In addition, a compliance audit feature works to cut down on bottom-line vendor spend for customers, per the release. With the combined company, the release said there will be a focus on supporting and investing in both eProcurement platforms, along with other kinds of growth.
Sam Schwartz, CEO of On.Care, said the company had been fortunate to attract Procurement Partners as a buyer and was “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.”
Zosel told PYMNTS recently that there can be some confusion when it comes to healthcare procurement practices. He said that’s often because many facilities work with a wide range of suppliers to get things ranging from not only healthcare items but also food, beverages, cleaning supplies and more. He said digitization would be key to combat this due to the possibilities for streamlining several processes.
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