LONDON & CHICAGO--(BUSINESS WIRE)--RLDatix, the international leader in governance, risk and compliance (GRC) solutions for healthcare, announced today 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. With this acquisition, RLDatix will combine its industry leading patient safety, risk, compliance and provider management capabilities with Allocate’s leading workforce management solutions to further accelerate Applied Safety IntelligenceTM, the company’s framework to shift healthcare from reactive risk management to proactive prevention. It will also cement RLDatix’s position as the global innovator in healthcare GRC.
COVID-19 has further highlighted the critical role that workforce management plays in healthcare, as physician burnout, staff shortages and complex staffing requirements significantly impact the delivery of care. Having the ability to rapidly deploy doctors, nurses, care staff, therapists, administrators and other front-line workers to areas where additional resourcing is required is critical to ensuring positive and life-saving patient outcomes. By bringing together Allocate’s workforce management solutions and RLDatix’s Best in KLAS GRC capabilities, healthcare delivery organisations will be better able to analyse staffing related issues and take corrective actions to mitigate future preventable harm.
“With the acquisition of Allocate, RLDatix becomes the only organisation to combine workforce management with credentialing, peer review, patient safety and provider management to create a holistic view of how human capital factors directly impact patient care,” said Jeff Surges, CEO, RLDatix. “In a time when ensuring the well-being of healthcare workers is more critical than ever, having the ability to identify, address and act upon workforce-related issues will help drive a culture of safety and high reliability across the continuum of care. We’re thrilled to have Allocate join the RLDatix family and look forward to writing this new and exciting chapter in healthcare GRC.”
“We are very excited to join forces with RLDatix,” said Nick Wilson, CEO, Allocate Software. “The link between patient safety, the welfare of staff and workforce technology is absolute. Over the coming years, providers of healthcare face ongoing workforce shortages alongside increasing demand for care. Together, we will positively impact how the workforce is planned, supported and deployed in a way that for the first time means it will be truly underpinned by patient safety and quality.”
Combined, RLDatix and Allocate have more than 5,000 customers in 26 countries. 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.
This acquisition enables both organisations to better serve clients operationally and to support strategic initiatives across human capital management, patient & health worker safety, caring for caregivers, procurement and more.
RLDatix and Allocate have over 1,400 staff across the United Kingdom, the United States, the Republic of Ireland, Canada, Australia, Saudi Arabia, Germany, Sweden and North Macedonia. With people and patients at the core of each company’s missions, they will transform how healthcare organisations drive safer, better care for all.
“It has been our privilege to support the RLDatix team on this transformational transaction,” said Vivek Kumar, Partner at Five Arrows Principal Investments. “Our journey of helping RLDatix evolve from a UK-based risk management software business to become the leading global player in the healthcare GRC space has been inspiring.” “The RLDatix / Allocate combination will lead to a global healthcare GRC platform which will enable Jeff and his team to play a meaningful role in transforming the industry for the benefit of all customers,” added Reid Perper, CIO, Five Arrows Capital Partners.
“We are honoured to have supported the impressive growth of RLDatix over the past three years in partnership with Jeff and the RLDatix management team,” said Naveen Wadhera, Managing Director at TA. “The acquisition of Allocate creates a market leading GRC platform serving the global healthcare provider market, and we are excited to continue our partnership as the combined companies enter this exciting next phase of their evolution,” added Ethan Liebermann, Managing Director at TA.
The transaction is pending final approvals which will be completed in the coming weeks.
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 over 4,500 customers in 19 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 €16bn. 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 535 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.