Fortive to buy healthcare software maker Provation for $1.43 bln

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December 3 (Businesshala) – Industrial products maker Fortive Corp (FTV.N) said on Friday it has entered into an agreement with Clearlake Capital Group to acquire Provision Software Inc., a provider of software solutions used in hospitals, for about $1.43 billion. have compromised.

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Investment firm Clearlake acquired Provision in 2018.

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Fortive, which spun off from Danaher Corp (DHR.N) in 2016, expects to finance the deal with short-term debt and cash.

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This is the second billion-dollar deal that Fortive has announced in about five months. In July, the company said it would buy ServiceChannel, a facility management software provider, from Bayard Capital and Accel Partners for $1.2 billion.

The group expects the deal to increase its adjusted earnings per share by more than 8 cents in fiscal 2022.

Evercore served as financial advisor to Fortive, while Credit Suisse and William Blair served as financial advisor to Provision.

The deal is expected to close by the end of the year.

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Reporting by Manojna Maddipatla and Oshi Majumdar in Bengaluru; Editing by Amy Karen Daniels

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