U.S. private equity firm Carrick Capital Partners has made an undisclosed majority investment in Procura Group Of Companies. Based in Victoria, British Columbia, Procura is a software vendor for home care, hospice, private duty, community and aged care organizations, and serves more than 30,000 users at more than 2,600 customer sites to manage employees caring for 1.71 million clients and patients. Marc McMorris, a Carrick managing director, will join the company’s board of directors, as will Carrick director Alex Mason and Michael Greenough, former CEO of SSA Global, who participated in the deal. Founded in 1989, Procura also has offices in the United States and Australia.
Carrick Capital Partners Announces Majority Equity Investment In The Procura Group Of Companies
Expansionary Capital to Accelerate the Company’s Growth in Global Home Health and Residential Software Markets
SAN FRANCISCO, Calif. and VICTORIA, British Columbia, May 21, 2014 /CNW/ – Carrick Capital Partners today announced the firm’s majority investment in the Procura Group of Companies (Procura). A multinational organization specializing in healthcare software and solutions, Procura will remain under the leadership of Scott Overhill, who has been promoted from President to Chief Executive Officer.
Procura is the software vendor of choice for home care, hospice, community, aged, disability and residential care organizations across the United States, Canada and Australia. For twenty-five years, their software products have been part of technology and workflow processes that allow care providers worldwide to deliver quality care in an efficient manner. The organization is comprised of Procura Home Care Solutions, Progresa Healthcare Systems, ContinuLink Homecare Software and Procura Australia (formerly PeoplePoint Solutions).
“Procura is well positioned to become a dominant player in the global home health and residential health markets,” stated Overhill. “We wanted a growth-oriented investment partner with a successful track record of scaling high growth companies, deep domain expertise in healthcare, and a dedication to high quality customer service. Carrick met all of our criteria. Their Approach to Building Value combined with Procura’s market expertise, outstanding product depth, and dedication to customer service will help us drive increased growth and sustain our position as a market leader.”
Carrick’s investment in Procura underscores the firm’s long-term point of view about market opportunity and their commitment to partnering with companies to help them increase market share, accelerate growth and become market leaders. Marc McMorris, Co-Founder and Managing Director of Carrick Capital Partners, will be involved as an active member of Procura’s board, and will be joined by Alex Mason, Director of Carrick Capital Partners. Additionally, Michael Greenough, former CEO of SSA Global, who participated in the transaction, will take an active role as the Company’s Executive Chairman.
“As the population ages and healthcare costs continue to rise, there will be increased focus on proactively managing patient populations in the most comfortable and cost-effective settings available; patients’ homes,” explained McMorris. “Procura has built a valuable collection of products positioned to reduce healthcare costs and improve clinical outcomes. We are excited by the opportunity to help them accelerate growth and address evolving industry pain points.”
About The Procura Group of Companies
Procura is the multinational post-acute software vendor of choice for home, hospice, private duty, community and aged care organizations across the United States, Canada and Australia. Our software solutions currently serve over 30,000 users at more than 2,300 customer sites, with over 229,000 employees providing care for 1.55 million individuals and managing 45,000 residential beds daily. Our customers include four of the five largest national providers of care in Canada, Kaiser Permanente and Interim HealthCare in the US, and we are one of the leading vendors of aged, disability, community and home care in Canada and Australia. Procura is headquartered in Victoria, BC and has offices in Chicago, IL, Boca Raton, FL, Sydney, NSW, Melbourne, VIC, and Brisbane, QLD. For more information visit goprocura.com.
About Carrick Capital Partners
Carrick Capital Partners is an investment firm that utilizes ABV (Approach to Building Value) to operationally scale fast growing businesses that provide software and technology-enabled services. Carrick adds value by taking a concentrated approach and dedicating significant resources post-investment. Carrick helps scale great companies that deliver significant returns for investors, stimulating economic growth, and positively impacting the industry landscape. Working directly with CEO’s and entrepreneurs, Carrick fulfills a vital need for investment and growth expertise. For more information, please visit www.carrickcapitalpartners.com.
SOURCE Carrick Capital Partners
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