Today Docutap announced its acquisition by Warburg Pincus. This is a tremendous outcome for the company, its shareholders and, most importantly, its founder and CEO, Eric McDonald.
More than a decade ago, Eric McDonald founded Docutap in his basement. He was inspired by the idea that mobile devices would someday play a critical role in delivering healthcare, but he didn’t know exactly how the software he was building might apply. After some exploration and experimentation he found that urgent care was the perfect market. Fast forward to today: Docutap is by far the leading software provider in the urgent care market, serving 1,300+ practices across the country. Transforming a basement business to a market leader, and ultimately attracting one of the best private equity firms in the world is an extraordinary feat. But what is more remarkable to me about Eric’s efforts is the impact that his company has on both its local community and the world beyond.
Based in Sioux Falls, South Dakota, Docutap proves that great businesses can be built anywhere – It’s an idea that we at BVP firmly believe and it’s why we travel the globe to meet with great founders wherever they are based.
Docutap’s impact has reached farther than the local Sioux Falls community. One of the reasons that I am so proud to be associated with Docutap is that Eric and team used the experience and resources they developed in their business to give back to their broader community. In fact, just last year, Docutap was honored with the first Humanitarian Award ever given by the Urgent Care Association in recognition for their work to build urgent care centers and help the medical community in Haiti. A shining example of the many reasons I am so thankful to be a small part of the Docutap community!
In closing this post, I would be remiss not to thank my former BVP colleague, Ambar Bhattacharyya. Ambar worked diligently to develop our urgent care roadmap and I’ll never forget when he told me he had found THE company that we had to invest in . . . that was located in South Dakota! I’ll admit I had to look it up on the map at first, but man am I glad we quickly packed our bags, took that first trip to Sioux Falls, and were able to convince Eric and team to work with BVP.
Congratulations Team Docutap! . . . It’s been an honor to be part of this journey.