Provation, a software and SaaS provider of procedure documentation and clinical decision support solutions, backed by Clearlake Capital Group LP, has acquired iProcedures LLC, a provider of cloud-based anesthesia documentation and perioperative data management software solutions.
“We are very excited to welcome the iProcedures team to our Provation family. We know what it takes to build a trusted brand and industry-leading software solutions that improve patient care and outcomes,” said Daniel Hamburger, CEO of Provation. “We are very impressed with what iProcedures has accomplished over its decade-long tenure and I am confident that together we can further advance our collective vision of empowering healthcare providers with innovative clinical productivity solutions.”
“Today, we start an exciting new chapter for iProcedures and we are thrilled to be a part of the Provation team,” added Raj Popuri, CEO of iProcedures. “Our organizations’ values and passion for serving our healthcare community align seamlessly. This partnership will allow us to accelerate the development and refinement of our cutting-edge technologies and get them into the hands of even more clinicians worldwide.”
Paul Huber, principal, and Sean Courtney, vice president, of Clearlake, said “We support Provation’s vision of an integrated software platform of clinical productivity solutions that capture data across the entire perioperative continuum and across all specialties. We look forward to continuing to utilize Clearlake’s O.P.S. framework in partnership with the Provation management team as they execute on their buy-and-build strategy, leveraging specialty-specific technology and innovation to shape the future of clinical productivity.”
Raymond James served as exclusive investment banking advisor and Trenam Law served as legal advisor to iProcedures in the transaction. District Capital Partners served as financial advisor and Sidley Austin LLP served as legal advisor to Provation.