TT Capital Partners (TTCP), a company specialising in healthcare technology investments, has announced a majority investment in Collaborating Docs.
This company plays a pivotal role in matching nurse practitioners (NPs) with collaborating physicians, a crucial step for NPs to practice independently in 33 states.
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Collaborating Docs ensures compliance with evolving regulations and maintain continuity of patient care.
The company simplifies the administrative workload for NPs and physicians by offering template agreements, state-specific guidance, and handling malpractice insurance and payment processing.
Collaborating Docs founder Dr. DePasquale said: “As we scale our operations and pursue new growth opportunities, having an investor partner with the insight to help us navigate this complex market is essential.
“TT Capital Partners shares our vision for enhancing the provider experience and improving healthcare access and delivery.”
The demand for nurse practitioners, one of the growing careers in the US according to the Bureau of Labor Statistics, is on the rise.
Despite having similar qualifications to physicians, NPs are restricted from practicing independently without a supervising physician in numerous states.
Collaborating Docs addresses the challenge faced by NPs and their employers.
TTCP partner Ryan Engle said: “As the physician shortage in the United States continues to grow more acute and more care is delivered by advanced practice providers such as NPs and physician assistants, Collaborating Docs is uniquely positioned to address the increasing demand.
“In addition to continued growth in the core NP business, we see opportunity for Collaborating Docs to leverage the company’s extensive regulatory and compliance capabilities to expand its services to other advanced practice providers and enterprises that employ or contract with large numbers of NPs.”
Edgemont Partners acted as the exclusive financial advisor to Collaborating Docs during this transaction.
