RLDatix, the international leader in governance, risk and compliance (GRC) solutions for healthcare, announced today the completion of the acquisition of UK-based Allocate Software ("Allocate"), a leading provider of human capital management solutions that help healthcare organisations deliver safe and effective care. The acquisition was previously announced on June 28th, 2021.
With the completion of this acquisition, RLDatix cements its position as the global innovator in healthcare GRC, combining its industry leading patient safety, risk, compliance and provider management capabilities with Allocate's leading workforce management solutions. It also further accelerates Applied Safety IntelligenceTM, the company's strategy to shift healthcare from reactive risk management to proactive prevention.
"We're thrilled to complete the acquisition of Allocate and start the next chapter of our exciting journey together," said Jeff Surges, CEO, RLDatix. "Covid-19 has reminded us that patient, workforce and organisational safety are inextricably linked, as burnout, well-being of care-givers and overall resilience are challenges felt by healthcare providers around the world. With the acquisition of Allocate, RLDatix is well positioned to continue delivering innovative, scaled and needed solutions that link healthcare GRC and workforce management. Combined, we will make healthcare safer."
"We have always understood the link between patient safety, the welfare of staff and workforce technology and are very excited to join forces with RLDatix," said Nick Wilson, CEO, Allocate Software. "With increasing demand for care and the ongoing clinician shortage being faced in healthcare we fully expect to positively impact both staff welfare and patient outcomes. We will be able to ensure that resources are planned, supported and truly underpinned by patient safety and quality."
"The combination of RLDatix and Allocate creates an organisation of significant global scale that is poised to drive innovation in healthcare for years to come," said Vivek Kumar, Partner at Five Arrows Principal Investments. "We look forward to supporting Jeff and his team in this exciting next phase of the company's growth." "RLDatix and Allocate are integral to some of the world's largest healthcare organisations," added Reid Perper, CIO, Five Arrows Capital Partners. "This combination is uniquely positioned to deliver continued growth while unlocking exciting new opportunities that will benefit customers around the world."
"It has been a pleasure working with RLDatix over the past three years to scale the business through organic and acquisitive growth, helping to solidify its position as aglobal leader in GRC," said Naveen Wadhera, Managing Director at TA. "As we continue our partnership, we believe RLDatix and Allocate's collective learnings and best practices will strengthen the combined company's competitive positioning and help healthcare organisations around the world provide safer, higher quality, and more efficient care," added Ethan Liebermann, Managing Director at TA.
Each month, 1.2 million staff utilise Allocate solutions to manage their working lives, over 1.4 million temporary staff shifts are filled and over 8 million hours of nursing care is redeployed for safety-related purposes. Worldwide, millions of people are protected by RLDatix software as they navigate the healthcare system, and as organisations shift towards high reliability, the company's expanding solution set will provide the data and analytics that drive actionable insights and overall improvement.
Together, RLDatix and Allocate will be better able to support strategic initiatives across human capital management, patient & health worker safety, and other healthcare operations critical to driving safer, better care for all.
RLDatix is on a mission to change healthcare. We help organisations drive safer, more efficient care by providing governance, risk and compliance tools that drive overall improvement and safety. Our suite of cloud-based software helps organisations report on adverse events, reduce healthcare-acquired infections and ensure patient safety learnings are implemented across the continuum of care. With more than 5,000 customers over 20 countries, RLDatix software protects hundreds of millions of patients around the world. RLDatix is controlled by Five Arrows and TA Associates as major shareholders. For more information, visit www.rldatix.com.
About Allocate Software
Allocate Software is a leading international provider of Human Capital Management solutions, supporting the operational and administrative needs of health, care, defence and commercial sectors.
In the health and care sector, Allocate is enabling the delivery of safe and effective care at optimal cost, by helping organisations to have the right people in the right place at the right time. With over 800 clients and over two million staff rostered daily, Allocate serves the largest public and private sector institutions around the world. Allocate Software is headquartered in the United Kingdom, with nearly 700 employees, including over 200 in research, development, and product management functions. It provides services and support to its international customer base through regional offices in the UK, Sweden, Germany and Australia. For more information, visit www.allocatesoftware.com.
About Five Arrows
Five Arrows Principal Investments (FAPI) and Five Arrows Capital Partners (FACP), together "Five Arrows", are part of the corporate private equity arm of Rothschild & Co's Merchant Banking business which manages over €17 billion. Five Arrows is focused on investing in middle-market companies with highly defensible market positions; strong management teams; business models with high visibility of organic unit volume growth and strong free cash flow conversion; and multiple operational levers that can be used to unlock latent value. Sectors are limited to data and software, technology-enabled business services and healthcare.
For more information visit: www.rothschildandco.com/en/merchant-banking/corporate-private-equity.
About TA Associates
TA is a leading global growth private equity firm. Focused on targeted sectors within five industries - technology, healthcare, financial services, consumer, and business services - the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 550 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high-quality growth companies. TA has raised $47.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm's more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai, and Hong Kong. More information about TA can be found at www.ta.com.
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