Hg, a global software and services investor, has agreed the sale of Allocate, a workforce and people management software-as-a-service (SaaS) provider to healthcare and government organisations, to RLDatix, a 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, says: “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.”