Snap Health Acquires Leading Healthcare Service Provider Your Therapy Source
FORT WORTH, Texas, December 2, 2022 (Newswire.com) - Today, Snap Health, a healthcare technology company specializing in connecting clinicians with home health agencies through a revolutionary mobile app and online referral system, signed a deal to acquire Your Therapy Source ("YTS"), one of the largest healthcare service providers in the State of Texas.
Edgemont Partners acted as exclusive financial advisor to Snap Health on its acquisition of YTS. Financial terms of the agreement were not disclosed.
The acquisition brings over 500 clinicians (therapists & RNs) and 150 home health partners into the Snap Health umbrella, further advancing the company's previously established footprint in Texas and the surrounding states.
Prior to the acquisition, Snap Health solely operated in the in-home therapy space, offering licensed physical, occupational, and speech therapists the ability to take more control over their visits. While this will still be a core offering of Snap Health, the acquisition allows for the company to expand its suite of services to include in-home visits from registered nurses.
"For several years now, we've been hard at work making Snap Health the go-to place for therapists looking for more scheduling freedom and home health agencies looking to streamline referral submissions. To see it pay off in the form of this acquisition is truly special for our team," said Snap Health CEO Andrew Hill. "With the increased staff and new ability to offer a wider breadth of healthcare services, we're poised to continue to expand our footprint throughout the United States. I'm very excited for the future growth and acquisition possibilities this creates for us."
Snap Health launched its mobile app and online referral system in the first quarter of 2022 after months of recruiting therapists and home health partners. Additional therapists were quickly drawn to the increased scheduling flexibility made possible by the app, and home health agencies followed suit by showing extreme interest in the ability to staff referrals in five minutes or less, made possible by Snap Health's advanced automation capabilities. "Many of our clinicians have been with us since we opened YTS in 2007. While this acquisition is very special for me personally, I'm even more thrilled to deliver an easier process of achieving financial freedom for our hardworking clinicians," said YTS Founder and CEO Sheri Yarbray. "I've been in this industry for decades, and I truly believe that this mobile app and online referral system are the future of home health. I look forward to helping Snap Health reach new heights in the coming years."
About Snap Health:
Founded in 2020, Snap Health was built by therapists for therapists. The company is headquartered in Grapevine, Texas, and its mission is to revolutionize the home health industry by providing clinicians and home health agencies access to an easy-to-use, innovative mobile app for scheduling visits and online system for submitting referrals. Learn more at www.Snap-Health.com.
Your Therapy Source is a therapist-owned business that provides therapy services to healthcare providers across Texas. YTS has the back-office operations, recruiting, customer service, and technology teams to help healthcare providers succeed in a changing healthcare environment. Our partnership with over 300 providers across the state of Texas, as well as our in-house support and resources, help clinicians take charge of their careers by building caseloads in desired service areas. Their mission is to match exceptional clinicians with quality healthcare providers to deliver excellent patient care. Learn more at www.YTShome.com.
Source: Snap Health