mPulse Mobile, a specialist in conversational AI and digital engagement solutions for the healthcare industry, has acquired HealthCrowd, a communications platform-as-a-service innovator focused primarily on the Medicaid market.
mPulse has also secured a growth investment from PSG, a growth equity firm partnering with middle-market software and technology-enabled services companies.
The acquisition comes at a time when healthcare organisations need innovative solutions to engage consumers as the pandemic spurs a dramatic adoption of virtual health. Health plans and providers are adapting to a significant shift towards consumer experience as a measure of performance. By joining two innovative organisations with deep expertise in delivering personalised digital health experiences, the combined company has unmatched health engagement capabilities across a number of measurements to transform how healthcare organisations improve both outcomes and the consumer experience through digital touchpoints.
The new funding from PSG will aim to accelerate mPulse’s go-to-market expansion, enable innovation across mPulse’s health engagement solutions and fuel organic and inorganic growth opportunities. With this investment, PSG becomes a majority shareholder in mPulse Mobile. Current mPulse investors also participated in this round, including Optum Ventures, OCA Ventures, HLM Venture Partners, Echo Health Ventures, SJF Ventures and Bonfire Ventures. Truist Securities served as exclusive financial advisor and DLA Piper served as legal advisor to mPulse. Cain Brothers represented HealthCrowd in the related transaction. Financial terms of the deals have not been disclosed.
