Accel-KKR has made a majority investment in Surgical Information Systems, a provider of business and clinical surgical software for ambulatory surgery centers and hospitals. No financial terms were disclosed. TripleTree LLC was financial advisor to SIS on this transaction.
ATLANTA, GA & MENLO PARK, CA – October 15, 2020 – Surgical Information Systems (“SIS”), the industry leader for business and clinical surgical software for ambulatory surgery centers (ASCs) and hospitals, today announced that it received a majority equity investment from Accel-KKR, a leading technology-focused private equity firm.
SIS provides business office management, clinical documentation, and patient communications tools that meet the unique needs of ASCs. SIS is a leading provider of anesthesia information management systems (AIMS) and perioperative solutions to hospitals and outpatient surgery departments.
“At SIS, we continue to invest and innovate for our clients, protecting their current software investments while also delivering cloud-based solutions across the surgical continuum. This investment by Accel-KKR reinforces the commitment by SIS to our customers and to our industry,” stated Tom Stampiglia, Chief Executive Officer of SIS. “We are seeing unprecedented demand for outpatient surgeries and as more complex procedures continue to move to ASCs, we are committed to providing our clients with the clinical, workflow, and management tools they need.”
Accel-KKR’s investment comes on the heels of a successful market launch of SIS Complete™, an end-to-end comprehensive SaaS software platform addressing the administrative, financial, and clinical needs of ASCs. With current clients in mind, cloud-based EMR and Patient Engagement modules are architected to work with any SIS business management solution including AdvantX®, AmkaiOffice™, Vision™, SIS Office™, and SurgiSource®. This strategy enables clients to quickly and easily adopt cloud technology including electronic medical records.
“SIS has a long history of delivering high-value, customer-focused solutions and we are excited to partner with the SIS management team to help the company achieve its vision for the future of surgical software,” stated Rob Palumbo, Managing Director and co-founder of Accel-KKR.
“We believe SIS’s ASC and hospital solutions will continue to make a positive impact on the delivery of surgical services and further strengthen its leadership position in the market,” added Dean Jacobson, Managing Director at Accel-KKR.
“It has been exciting to see SIS’s rapid growth and product delivery,” said Tim Kuehl, Partner at Norwest Equity Partners (NEP). “We look forward to continuing our investment alongside Accel-KKR’s majority position to accelerate SIS’s growth and reach in the surgery market.”
TripleTree, LLC served as the exclusive financial advisor to SIS for this transaction.
About Surgical Information Systems
Since 1996, Surgical Information Systems (“SIS”) has been dedicated to providing surgical care providers with the solutions and services they need to deliver improved operational, financial, and clinical outcomes.
Focused exclusively on perioperative IT, the SIS award-winning product suite is built specifically for the perioperative environment and includes hospital and ASC-focused solutions covering perioperative Electronic Medical Records (EMRs), Anesthesia Information Management Systems (AIMS), ASC business management, and business intelligence and analytics solutions. Services include revenue cycle management to complement SIS’s software solutions.
For more information, visit SISFirst.com.
Accel-KKR is a technology-focused investment firm with over $9 billion in capital commitments. The firm focuses on software and IT-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London. Visit accel-kkr.com to learn more.