Provation Acquires iProcedures LLC
Provation of Minneapolis, Minnesota, acquired iProcedures LLC, of Tampa, Florida, according to a May 4 release. Terms of the transaction were not disclosed.
Provation, a procedure documentation software company, serves nearly 4,000 hospitals and health systems, ASCs, medical offices and anesthesia groups worldwide. Its acquisition of iProcedures follows its 2020 procurement of ePreop, a provider of anesthesia quality reporting and surgical care coordination solutions. iProcedures serves 70 customers including nearly 740 hospitals, ASCs and anesthesia groups globally, according to the release. With iProcedures, Provation's portfolio will now include iPro Anesthesia, a cloud-based anesthesia information management system.
"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,” said Daniel Hamburger, CEO of Provation, in the release.
“Our organizations’ values and passion for serving our healthcare community align seamlessly," said Raj Popuri, CEO of iProcedures, in the release. "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.”
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.