Hg, Vista, sell Allocate to TA’s RLDatix

Hg’s initial investment in Allocate dates to late 2014, when it completed a public-to-private transaction from the London Stock Exchange.

Hg has agreed to sell Allocate, a workforce and people management software-as-a-service (SaaS) provider to healthcare and government organizations, to RLDatix. Backed by TA Associates and Five Arrows Principal Investments, RLDatix provides patient safety software. Vista through Vista Foundation Fund III bought Allocate from Hg in May 2018, and three months later, Hg rejoined as an investor from Hg8 Fund.

PRESS RELEASE

Together Hg and Allocate have created a leading global platform in healthcare Human Capital Management software

Hg, a leading global software and services investor, today announces that it has agreed the sale of Allocate, a leading workforce and people management software-as-a-service (SaaS) provider to healthcare and government organisations, to RLDatix, the leading global provider of intelligent patient safety solutions.

The terms of the transaction have not been disclosed and completion is subject to customary closing conditions.

Allocate Software is a leading international provider of Human Capital Management solutions, supporting the operational and administrative needs of health, care, government organisations 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.

Hg’s focus on healthcare technology led to an initial investment in Allocate at the end of 2014, completing a public-to-private transaction from the London Stock Exchange. Since then Hg has worked with management and invested materially to enhance Allocate’s software suite, achieve greater customer engagement, helped the business to enter new geographies and created a strong growth platform, with four strategic acquisitions in the last four years.

David Issott and Jean-Baptiste Brian, Partners at Hg, said: “We wish the Allocate team well after what has been a tremendously enjoyable and productive seven years. Allocate provides a critical service and has earned a position as a valued champion in the health sector through a history of continuous product innovation, business model improvements, successful geographic expansion and, today, employs three times more people than when we first invested. We’re really proud of the work we have achieved together.”

About Hg

Hg is a leading investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of over $30 billion, with an investment team of over 140 professionals, plus a portfolio team of more than 35 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 35 software and technology businesses, worth around $70 billion aggregate enterprise value, with over 50,000 employees globally. Visit www.hgcapital.com for more information.

About Allocate Software

Allocate Software is a leading international provider of Human Capital Management solutions, supporting the operational and administrative needs of health, care and commercial sectors.

In the health and care sector, Allocate is enabling the delivery of safe and effective care at optimal cost, by helping organization’s 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 850 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.