SimplePractice Announces Strategic Purchase of Assets of Luminello
LOS ANGELES—August 3, 2023—SimplePractice, an EngageSmart (NYSE: ESMT) solution and industry-leading platform simplifying the health and wellness experience for more than 178,000 solo and small group practitioners, announced it has entered into a strategic agreement to acquire assets of Luminello, an electronic medical record and practice management platform supporting thousands of solo and small group psychiatrists, psychiatric nurse practitioners, psychologists and other prescribing medical professionals.
“We are thrilled to work closely with the Luminello team who support this critical segment of the mental health market. We are excited about the opportunity to bring the value of SimplePractice to this important segment and we look forward to bringing the benefits of SimplePractice to Luminello’s customers,” said SimplePractice President Jonathan Seltzer. “Demand for mental healthcare, particularly in the psychiatry segment, is unprecedented. We are humbled to serve and will continue to innovate on behalf of this critical group of medical professionals within the healthcare system.”
The Luminello deal is expected to enable SimplePractice to expand its presence in the psychiatric segment of the mental health market. By offering a greater range of functionality for its growing practitioner base, SimplePractice expects to accelerate growth with multi-disciplinary group practices. To solve more complex and acute mental health diagnoses, a growing number of group practices include both prescribers and non-prescribers. Luminello offers distinct workflows, features and functionality, including e-prescribe, which when rolled out have the potential to drive higher value for all practitioners and unlock the potential for serving multi-disciplinary group practices. This transaction is also intended to increase the value of new offerings SimplePractice has developed to alleviate the administrative burden of working with Health Plans, Managed Care Organizations and Employee Assistance Programs on behalf of independent practitioners to continue to make mental health more easily accessible— particularly for patients whose conditions require medication.
“Both SimplePractice and Luminello were founded by clinicians looking to simplify the business of running an independent solo or small group mental health practice,” said Ken Braslow, MD, Founder, Luminello. “Today, we remain equally committed to removing the administrative burdens that practitioners face and look forward to combining the strength of our collective experience to serve even more practitioners and their patients.”
Luminello’s strength in serving prescribers will add to SimplePractice’s deep expertise in supporting mental health practitioners. Bringing together these industry-leading offerings will create meaningful value for current and future customers, as well as their patients.
About SimplePractice
SimplePractice, an EngageSmart healthcare solution, is the industry-leading platform simplifying the health and wellness experience for both the practitioner and patient.
SimplePractice supports health and wellness providers in their journey from starting to growing a thriving practice. More than 178,000 providers trust SimplePractice to build their business through industry leading software, ongoing education and powerful tools that connect them to clients seeking care. Clients can find and request an appointment directly with the right therapist and manage their care all in one place.
Recognized by Built In as one of the Best Midsize Companies to Work For in Los Angeles in 2022, SimplePractice is proud to pave the future of healthtech. To learn more, visit SimplePractice.com, or join the conversation on LinkedIn, Instagram, Facebook, and Twitter.
About EngageSmart
EngageSmart is a leading provider of vertically tailored customer engagement software and integrated payments solutions. At EngageSmart, our mission is to simplify customer and client engagement to allow our customers to focus resources on initiatives that improve their businesses and better serve their communities. EngageSmart offers single instance, multi-tenant, true Software-as-a-Service (“SaaS”) vertical solutions, including SimplePractice, InvoiceCloud and DonorDrive, that are designed to simplify our customers’ engagement with their clients by driving digital adoption and self-service. As of June 30, 2023, EngageSmart serves 109,700 in the SMB Solutions segment and 3,400 customers in the Enterprise Solutions segment across several core verticals: Health & Wellness, Government, Utilities, Financial Services, Healthcare and Giving. For more information, visit www.engagesmart.com and follow us on LinkedIn.
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