Hybrent Combines With Serent-Backed Procurement Partners
Creating world-class e-procurement solution for healthcare providers
- Serent portfolio company Procurement Partners acquires Hybrent, an e-procurement solution provider
- The transaction yields one of the largest Procure-to-Pay organizations in healthcare
Hybrent, an e-procurement solution provider to ambulatory surgery centers, physician offices, and post-acute providers nationwide, announced it is combining with Procurement Partners, a provider of procure-to-pay (P2P) solutions for post-acute care and senior living communities. The combination of the two companies yields one of the largest Procure-to-Pay organizations in healthcare.
Hybrent helps healthcare organizations lower costs and save time with its easy-to-use purchasing, inventory management, and invoicing software. Joining forces with Procurement Partners unlocks additional cross-sell opportunities while expanding the combined companies’ robust vendor base and tech expertise.
“We are thrilled that such a reputable partner recognized Hybrent’s efforts to help our customers better manage their procurement,” said Ken Tighe, CEO of Hybrent.
Navneet Gosal, CTO & Co-founder of Hybrent added, “We are confident that our future with Procurement Partners will help take what we have created to the next level, and we are excited to deliver even more value to our customers in this next chapter.”
The Procurement Partners platform improves savings through its 100% invoice digitization, removing the need for manual and paper keying. The platform also offers a compliance audit feature, which can help reduce bottom-line vendor spend for its customers.
“We are incredibly excited to welcome Hybrent into the Procurement Partners family and look forward to leveraging their strong product expertise and knowledge of the ambulatory surgery center, physician office, and other healthcare sectors,” said Rusty Zosel, CEO of Procurement Partners. “Our shared values of a strong customer focus and developing best-in-class technology solutions will be the foundations of a great partnership and shared future.”
While the combined company will collaborate on opportunities to improve their customer experience and maximize growth, Hybrent will operate as an independent company and continue to focus on ambulatory surgery centers, physician offices, and post-acute sectors.
The acquisition is backed by Serent Capital, a growth-focused firm that invests in technology and tech-enabled services companies. Terms of the deal were not disclosed. Serent’s Healthcare Investments
About Procurement Partners: Since 2010, Procurement Partners has been leading the business commerce evolution with its procure-to-pay (P2P) solution. The complete procurement and transaction automation portal, built and supported by Procurement Partners, reduces off-contract spending, and drives efficiency to purchase processes while automatically auditing every invoice. The significant amount of flexibility of the Portal, the ability to capture 100% of invoices, and the capability to service customers and vendors of all sizes have made Procurement Partners one of the fastest-growing P2P solutions in multiple markets. Learn more at http://www.procurementpartners.com.
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers’ needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive. Learn more about our portfolio companies- https://www.serentcapital.com/