Critical Alert Systems to Acquire Sphere3® Consulting
Lower middle-market investor Wedbush recently announced its portfolio company, Critical Alert Systems, purchased health care software maker Sphere3.
JACKSONVILLE, Fla., Feb. 11, 2019 (GLOBE NEWSWIRE) — Critical Alert Systems (HIMSS Booth# 5243) announced today it has reached an agreement to acquire Sphere3® Consulting. The agreement is subject to closing conditions and is expected to be completed by the end of February.
Sphere3®’s award-winning reporting and patient analytics platform, Aperum®, tracks and correlates patients’ perceptions and behaviors based on their nurse call activity to inform nursing leadership regarding the staffing and activities necessary to improve patient satisfaction and safety. The combination of Critical Alert’s progressive, enterprise-class, software-based nurse call platform with Aperum®’s patented enterprise analytics and patient experience rounding tools will establish new standards of performance for patient care and safety in the patient communications market.
The unique combination of the two platforms, augmented by Sphere3’s Clinical Advisory Services, will enable hospitals to leverage patient-generated data captured in the nurse call application to identify gaps in staffing and performance. Aperum®’s patented analytics identify where resources and attention are necessary to ensure patient needs are not only met but exceeded. Aperum® also provides insights into caregiver workload management allowing hospital leadership to create a more balanced environment ultimately increasing staff satisfaction.
Sphere3®’s CEO, Kourtney Govro, recently named one of the “102 Women in Health IT To Know” by Becker’s Healthcare, will join the Critical Alert executive team as Vice President of Business Development and Managing Director of the Sphere3®Clinical Advisory Division. Sphere3®’s current service-delivery staff will be augmented by Critical Alert’s Jacksonville-based engineering and operations teams to accelerate growth across all business units. Kourtney’s deep industry expertise will be a valuable addition to Critical Alert’s executive team, led by CEO John Elms.
“Kourtney Govro is an icon in the nurse call industry and a true thought leader in the areas of nursing analytics and the methods by which the knowledge gained through those analytics can be utilized to improve patient care,” stated John Elms, Critical Alert’s CEO. “I look forward to a close collaboration with Kourtney and the Sphere3® team to continue bringing additional value to our nurse call customers over and above the technical capabilities of our industry-leading software-based patient communication platform,” continued Elms.
“For years, I have encouraged the nurse call market to transform by leveraging data, mobile tools and true interoperability to empower caregivers to better serve patients. Now, we can actually make that a reality! John Elms’ vision is to focus our combined teams not on what nurse call is today, but what nurse call will be tomorrow,” said Govro. “Our clinical advisory services team will grow with additional resources to serve our existing and new clients with more depth and experience.”
”The acquisition of Sphere3® Consulting will enhance Critical Alert’s offerings, raising the bar to provide a preeminent, innovative patient communications platform allowing hospitals and healthcare systems to provide their patients with the best possible care,” stated Peter Shoemaker, managing partner of Wedbush Capital Partners, the majority investor in Critical Alert Systems.
About Critical Alert Systems
Critical Alert Systems offers the most flexible and scalable enterprise-grade Patient Communications and Nurse Call solution on the market. The company’s software-driven platform includes UL-compliant hardware, a portfolio of integrated partner offerings and its value-added clinical services drive down costs, reduce clinical interruptions and alarm fatigue and improve the quality of care for hospitals and healthcare enterprises. Our focus on clinical productivity, innovative use of technology and patient safety leads to quieter, more efficient units, improved outcomes for patients and better utilization of nursing resources. For more information, visit: www.nursecall.com. Follow Critical Alert on LinkedIn and Twitter.
About Sphere3®
Sphere3®, a Gartner “Cool Vendor in Healthcare Providers” in 2015, offers Aperum®, a first of its kind patient experience management platform that integrates both the patient’s perception at the point of care and their behaviors in a mobilized analytics platform. Aperum®, which means to reveal, translates patient generated data from nurse call light, patient beds, cardiac monitoring, and sensor/ location technologies into information to empower hospitals to better manage care in real time. It provides insights into caregiver workload management, patient satisfaction, and patient safety indicators.
About Wedbush Capital Partners
Wedbush Capital Partners is a private equity firm focused on recapitalizations, growth investments, and management-led buyouts of lower middle-market companies. Wedbush Capital acquires and builds growing, profitable companies headquartered in the Western U.S. with revenues ranging from $10 to $50 million at the time of the investment. The firm’s preferred initial investment is $5 to $10 million of equity. Since 1980, Wedbush Capital and its professionals have invested in more than 90 companies in industries including consumer products and services, business and financial services and niche manufacturing. Wedbush Capital is an affiliate of Wedbush Securities, founded in 1955 and one of the largest investment banks and brokerage firms in the Western United States. For more information, please visit www.wedbushcapital.com or call Peter Shoemaker at 310-266-2480.
