Exela Technologies Announces Strategic Investment in UBERDOC, a Leading Patient Access and Price Transparency Platform
Exela Technologies, Inc. (XELA) announced a strategic investment in UBERDOC, a leading platform connecting patients with doctors for direct-pay services. This partnership aims to enhance patient access and price transparency in healthcare. UBERDOC, currently the largest network of direct-pay specialists in the U.S., will use the investment to expand nationwide, facilitating over 15,000 weekly appointments. The collaboration combines Exela's digital healthcare solutions with UBERDOC’s capabilities, benefiting both companies and their users by improving access to affordable care.
- Strategic investment in UBERDOC enhances Exela's healthcare portfolio.
- UBERDOC's large network expands access to care, benefiting users.
- Potential for revenue growth through UBERDOC's nationwide scaling.
- None.
IRVING, Texas, March 25, 2022 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or “the Company”) (NASDAQ: XELA), a global business process automation (BPA) leader, announced today a strategic investment in UBERDOC, Inc. UBERDOC is a leading patient access and price transparency platform connecting patients to top doctors for in-person and telemedicine appointments. UBERDOC plans to use the proceeds from this investment to scale its offering to patients nationwide, advancing UBERDOC’s mission to provide faster, more affordable care by creating an open, transparent marketplace where patients can connect directly to the doctors they need.
UBERDOC is currently the largest network of direct-pay specialists in the country and has partnerships with employers, medical cost sharing plans, government agencies, and accountable care organizations. The platform currently hosts over 4,000 active specialists and primary care doctors, covering nearly 50 states and offering over 15,000 available appointments each week. UBERDOC’s expanding platform also offers users affordable prices for home delivery prescriptions, bloodwork, and imaging.
“You shouldn’t have to have the right insurance, the right employer, or know the right person to receive the best care,” said Dr. Paula Muto, a practicing surgeon, Founder and CEO of UBERDOC. “Everyone deserves equal access to the healthcare they need when they need it. With UBERDOC, every patient can make an appointment without a phone call or referral, at a price lower than that of commercial insurance.”
Exela’s strategic investment in UBERDOC pairs the largest direct-pay specialist network with Exela’s leading digital healthcare footprint along with its exchange for bills and payments (XBP), and HCM benefits administration platform, furthering the network effect of both companies. UBERDOC users, in addition to benefiting from priority access to leading specialist with fixed price transparency, will be able to seamlessly submit eligible direct-pay costs to their insurance plan for reimbursement and/or application towards their deductible. UBERDOC’s 4,000 active specialists will have plug & play access to Exela revenue cycle management solutions and can leverage a suite of digital transformation and intelligent automation solutions across all billing models.
“We are thrilled to partner with UBERDOC in building a healthier world with technology that expands access to quality care and brings much-needed efficiency and price transparency to the healthcare system,” said Matt Brown, global head of business strategy at Exela Technologies. “The time has come for patient-first healthcare innovation, and we are excited to be part of the solution.”
About Exela Technologies
Exela Technologies is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. With decades of experience operating mission-critical processes, Exela serves a growing roster of more than 4,000 customers throughout 50 countries, including
About UBERDOC
UBERDOC is an innovative healthcare platform that connects patients with available board-certified doctors and specialists for in-person and telemedicine appointments at a transparent price. We provide direct access with no phone calls, no waiting, no insurance approvals or referrals needed and no surprise bills. UBERDOC is convenient and easy to use for both doctor and patient. See the right doctor, right away at https://uber-docs.com/.
For more Exela news, commentary, and industry perspectives, visit: https://investors.exelatech.com/
And please follow us on social:
Twitter: https://twitter.com/exelatech
LinkedIn: https://www.linkedin.com/company/exela-technologies
Facebook: https://www.facebook.com/exelatechnologies/
Instagram: https://www.instagram.com/exelatechnologies
The information posted on the Company's website and/or via its social media accounts may be deemed material to investors. Accordingly, investors, media and others interested in the Company should monitor the Company's website and its social media accounts in addition to the Company's press releases, SEC filings and public conference calls and webcasts.
Forward-Looking Statements
Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "may", "should", "would", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "seem", "seek", "continue", "future", "will", "expect", "outlook" or other similar words, phrases or expressions. These forward-looking statements include statements regarding our industry, future events, estimated or anticipated future results and benefits, future opportunities for Exela, and other statements that are not historical facts. These statements are based on the current expectations of Exela management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties, including without limitation those discussed under the heading "Risk Factors" in Exela's Annual Report and other securities filings. In addition, forward-looking statements provide Exela's expectations, plans or forecasts of future events and views as of the date of this communication. Exela anticipates that subsequent events and developments will cause Exela's assessments to change. These forward-looking statements should not be relied upon as representing Exela's assessments as of any date subsequent to the date of this press release.
Investor and/or Media Contacts:
Vincent Kondaveeti
E: vincent.kondaveeti@exelatech.com
Mary Beth Benjamin
E: IR@exelatech.com
FAQ
What did Exela Technologies announce on March 25, 2022?
What is UBERDOC?
How many specialists does UBERDOC have?
What is the goal of Exela's investment in UBERDOC?
How does UBERDOC benefit its users?
