Private equity firm The Riverside Company has added Applied Logic to its Censis Technologies platform.
Headquartered in St Louis, Applied Logic provides software and third-party hardware used in the sterile processing department (SPD) of hospitals and medical facilities. The company’s products assist with SPD workflows, tracking surgical inventory and alerting staff to issues such as insufficient sterilisation and missing items following surgery.
“Given the similarities between the two businesses, the combination of Censis and Applied Logic will create a very innovative offering,” says Riverside Managing Partner Loren Schlachet. “With its blue-chip customer base and compelling recurring revenue model, Applied Logic offered an attractive acquisition opportunity for Censis, and we are very pleased to complete this transaction.”
The add-on further enhances Censis Technologies’ leading position as a provider of SaaS-based surgical instrument tracking and workflow solutions for sterile processing departments. With this acquisition, Censis will be able to more effectively build its customer base, helping large and small hospitals convert from paper-based tracking systems to more efficient and cost-effective software-based solutions.
Censis CEO Randy Smith referenced the transaction as an opportunity to “take the strengths of both organizations and offer the most innovative and advanced portfolio that will now serve more than 1,300 hospitals across North America.”
“Applied Logic serves numerous large, well-respected hospitals and has a very strong footprint in the Northeast and Southwest,” says Riverside Vice President Garrett Monda. “Acquiring Applied Logic will nearly double the number of hospitals Censis serves, further solidifying its leadership position.”
Working with Schlachet and Monda on the deal were Riverside Partner Brian Sauer, Senior Operating Partner Dave Tiley, Senior Associate Ken Johnson, Analyst Elizabeth Warner and Finance Director Ross Fuller.
