Patient survey service provider Press Ganey Associates has acquired a majority stake in Binary Fountain, a US-based peer backed by healthcare system Providence Health and Services, for an undisclosed amount.
Founded in 2014, Binary Fountain provides a software tool that collects and evaluates patient opinions from surveys, online reviews, social media platforms and other sources. The information is then used to increase the level of customer satisfaction and engagement.
In addition, Press Ganey has purchased another, similar company, dubbed Doctor.com, and will pull together the three portals to build a single system.
Providence Health and Services’ corporate venturing arm, Providence Ventures, participated in a $16m series A round for Binary Fountain in 2015 that was led by HLM Venture Partners and which also featured Pioneer Venture Partners.
Providence Ventures had already backed a $5.7m seed round for the company the year before that was also led by Pioneer Venture Partners.
