EverCommerce Inc. (NasdaqGS:EVCM) entered into a definitive agreement to acquire DrChrono Inc. for approximately $180 million on November 2, 2021. EverCommerce intend to fund the acquisition with $155 million of availability on revolving credit facility and cash off balance sheet. DrChrono will join EverCommerce's EverHealth solutions. The transaction is subject to pending regulatory review and other customary closing conditions and expected closing date before the end of November. As of November 8, 2021, the transaction is expected to complete in mid-November 2021. TripleTree, LLC is acted as a financial advisor to DrChrono Inc.
EverCommerce Inc. is a provider of integrated, vertically tailored software-as-a-service solutions for service-based small and medium-sized businesses. The Company's platform spans across the full lifecycle of interactions between consumers and service professionals with vertical-specific applications. It serves customers across three core verticals: EverPro, EverHealth and EverWell. Its EverPro solutions are purpose-built for home service professionals, with varying specialized functionality for micro-verticals. Its EverHealth solutions are purpose-built for health service professionals. Its health service solutions include practice management and electronic health record (EHR) / electronic medical record (EMR) software. Its EverWell solutions are purpose-built for Fitness & Wellness service professionals. The Company also provides end-to-end business management software, embedded payment acceptance, marketing technology, and customer experience applications.
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