Nolan Advised Doximity on its Acquisition of THMED

DATE: April 01, 2020

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Who is Our Client?

  • Doximity is the largest professional medical network for U.S. healthcare professionals, with more than 70% of U.S. doctors and 45% of all nurse practitioners and physician assistants as members.
  • Clinicians can use Doximity on their iPhone, iPad, Apple Watch, Android device or computer to securely connect and collaborate with other healthcare professionals about patient treatment, identify appropriate experts for patient referrals and manage their careers.
  • Doximity’s CEO and co-founder Jeff Tangney, winner of E&Y’s Entrepreneur of the year award in 2019, previously founded Epocrates (NASDAQ:EPOC) .
  • Doximity is venture-backed with Emergence Capital, InterWest, Morganthaler, Morgan Stanley and T.Rowe Price as investors.

 Why Did Doximity Hire Nolan?

  • Doximity sought to enter the physician recruiting and locum tenens markets via acquisition.
  • The combination of Nolan’s technology and healthcare staffing expertise was a point of differentiation for Doximity.

 What Value Did Nolan Deliver?

  • Nolan’s process delivered THMED, a leading healthcare staffing firm focused on permanent physician and locum tenens placements.
  • Founded in 2009 and based in Dallas, THMED provides its clients with a complete staffing solution that relies on the latest technology, proven search strategies and expert consultation.
  • THMED was a portfolio company of Waveland NCP Texas Ventures (WNCP), a partnership between New Capital Partners and Waveland Ventures.
  • Since the acquisition, THMED has changed its name to Curative to reflect the new company empowered by Doximity’s technology and network.
  • Together, the two companies have created a first-ever business model for healthcare staffing that uses technology to re-engineer delivery by focusing on personalized search that connects medical groups and healthcare facilities with a far-reaching network of highly qualified vetted practitioners.
  • Curative is positioned for significant growth. Jeff Bowling, Curative CEO, said, “We are going to go fast and grow fast. Curative now has all the advantages of a Silicon Valley tech company to fuel its customer experience and delivery. Most staffing firms have a database; we have access to a living, breathing network of physicians. Now, with the creation of Curative and the power of Doximity, hospitals and medical practices have access to the largest network of physicians. I’m here because this is different; 100% unique in staffing. Every CEO dreams of leading an organization with a true differentiator, and we have a clear one here.”

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