Nextech Adds San Diego’s Supramed to its Medical Practice Business

Supramed logo used with permission

Nextech, a company in Palm Beach, FL, that develops software used to manage physicians’ medical practices, has acquired San Diego-based Supramed, which specializes in medical practice management software for plastic surgeons. Financial terms were not disclosed.

Supramed CEO Bob Nascenzi was upbeat about the deal yesterday, saying Nextech plans to expand Supramed’s development team in San Diego as it expands its cloud-based software. By hiring six software developers over the next six months, Nascenzi said Supramed would double its current headcount—and he counts that as a victory.

“Here’s a tech company that’s being bought in San Diego, but rather than closing us down, they want to build the company in San Diego,” Nascenzi said. “I see so often that we’re like a farm club city here. As soon as something gets bought, [the buyers] want to move it out of town.”

Nascenzi said he also is encouraged by the fact that Nextech is a portfolio company of San Francisco-based Francisco Partners, a private equity firm focused solely on technology and technology-enabled service businesses. It has $10 billion in total assets. “Nextech was the buyer, but all our negotiations were with Francisco Partners,” Nascenzi said.

Nextech, founded in Dayton, OH, in 1997, says it has accumulated a worldwide client base of more than 7,000 physicians, managing an excess of 40,000 office staff members across three main specialties: plastic surgery, dermatology, and ophthalmology. Nextech moved its headquarters to Florida in 2006.

Supramed was founded in 2011 by two San Diego plastic surgeons, Robert Pollock and Raluan (Ron) Soltero, who realized the specialized nature of their practice required a more customized software management system than what was available. Nascenzi said he joined as CEO in 2014, and set out to raise capital, develop a go-to-market plan, and recruit a chief technology officer.

The company has raised about $1.6 million over the past five years, Nascenzi said.

“Going forward, the team here is going to be focused on the practice management system for all specialties,” Nascenzi said.

Author: Bruce V. Bigelow

In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here. Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University. Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.