424 Capital, Eagle Private Capital, And Plexus Buy Majority Share In Practis

By Annie Baker ● Jan 3, 2020
  • 424 Capital, Eagle Private Capital, and Plexus Capital announced it made an investment in Practis for a majority share

424 Capital — a lower-middle market growth capital partner — announced it has made an investment in Practis for a majority share. Practis is a digital marketing and SaaS software solutions company that caters to independent healthcare providers.

Along with Eagle Private Capital and Plexus Capital, 424 Capital purchased a majority share from founder Elizabeth Pettrone and CEO John Pettrone Jr. — who will remain investors and active managers in Practis.

“Practis’ compliance-centric software and services help private practices market themselves, attract new patients, and run their offices more effectively in the everchanging healthcare regulatory environment,” said Amit Nagdev, Principal at 424 Capital. “Practis presents an opportunity to acquire unique intellectual capital covering an array of healthcare specialties. With a stable, recurring, and growing customer base across the small physician segment today, we will work with management to continue to accelerate into new markets and expand its services offering amongst current clients.”

Launched in 1998, Practis is known for providing secure and comprehensive internet marketing solutions that enable medical groups, hospitals, and healthcare companies to exceed their patient engagement and acquisition goals. And with over 700 customers today, Practis has developed a strong foundation by offering several proprietary software tools which enable it to serve a large client base at low costs.

“424 Capital has extensive experience and strong industry knowledge in both healthcare and marketing agency services,” added John Pettrone Jr. “The natural fit is why we are excited to partner with 424 Capital while continuing to provide the highest level of services to our existing customer base. Through this partnership, we expect to enhance our sales and marketing initiatives and continue to expand our footprint in the healthcare digital marketing industry.”