Provation, a software provider of procedure documentation and clinical decision support solutions, backed by Clearlake Capital Group LP, has acquired the EndoPro endoscopy informatics and software portfolio from Pentax Medical.
“Our goal with the acquisition of EndoPro is to increase productivity for more healthcare providers by bringing the latest Provation software solutions to an underserved market segment,” said Daniel Hamburger, CEO of Provation. “Growth through acquisition is essential to Provation’s success in developing a comprehensive portfolio of leading clinical productivity solutions, and we are proud to welcome the dedicated endoPRO team to the Provation family.”
“Pentax Medical has always been a trusted provider of diagnostic and therapeutic endoscopy solutions. Developed by Pentax Medical, EndoPro is a world class product with an impressive customer base. Divesting the EndoPro franchise will better enable Pentax Medical to continue to invest and expand in its core competencies,” explained Ojas Buch, president of PENTAX Medical Americas. “We thank the EndoPro team for their service and innovation and wish them much success as they transition to join the Provation team. We are confident that by combining EndoPro with Provation, EndoPro customers will continue to receive the highest level of service that they are accustomed to. We are very excited to have a new home for EndoPro at Provation.”
“The combination of Provation and EndoPro creates a more comprehensive portfolio of software and SaaS solutions used to help healthcare providers increase operational efficiencies and ultimately improve patient care and outcomes,” said Paul Huber, principal, and Sean Courtney, vice president, of Clearlake. “We are excited to support Daniel and the team to continue to shape the future of clinical productivity through Provation’s organic and inorganic growth efforts.”
McDermott Will & Emery served as legal advisor to Pentax Medical in the transaction. District Capital Partners served as financial advisor and Sidley Austin LLP served as legal advisor to Provation.