Building credibility prior to a liquidity event

Situation

CoachCare, an Austin and New York-based remote patient monitoring and virtual health company, acquired two businesses and secured a strategic partnership. As it continues a path of acquiring to be acquired within the year, it chose Ballast to emphasize its financial acumen with metrics such as net revenue retention, annual revenue rate and other messages to the financial community. 

 

Complication

CoachCare’s audience, including primary care physicians and their offices, patients, potential companies to acquire and buyers to acquire it, had little to no awareness of its expansive portfolio of services through its acquisitions, that allow CoachCare to offer cardiology, nephrology, pain management, orthopaedics and is now entering the chronic management and behavioral health markets. It sought Ballast to generate awareness of the acquisitions of Carbon Health’s Alertive and NVOLVE and strategic partnership with CareSpan from the financial community. 

 

Solution

We developed an earned media approach that focused on identifying relevant reporters within the health tech and financial communities 

  • Identified trends in RPM companies to further separate CoachCare from other smaller players, for example, they are the only ones doing continuous rollups to increase valuation and diversify their customer base 
  • Researched the media landscape for relevant and influential publications in the region with broad readership to gain new patients, developing a targeted media list from that research 
  • Spoke to CoachCare’s top customers (third-party storytelling) to develop messaging and understand how it has spearheaded higher revenue and lowered burnout within their PCP offices 
  • Conducted media training with both co-founders, Wes Haydon, president, and Andrew Zengilowski, CEO, to be prepared for interviews with reporters 

 

Results 

Our strategy resulted in significant media coverage for CoachCare: 

  • Articles with combined ROI of $55,000: Healthcare IT, Mergermarket
  • Editorial pick up of press release: acquisition of Carbon Health’s Alertive (The Middle Market)
  • Enhanced awareness and inquiries from private equity bankers, buyers, strategic partners, potential acquisitions and customers 
  • Increased website and social media traffic (by providers, health systems, patients, potential buyers)