The Riverside Co. has added Applied Logic Inc. 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 sterilization 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,” said Riverside Managing Partner Loren Schlachet in a statement. “With its blue-chip customer base and compelling recurring revenue model, Applied Logic offered an attractive acquisition opportunity for Censis.” The add-on further enhances Censis’ 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 hospitals convert from paper-based tracking systems to more efficient and cost-effective software-based solutions. Censis CEO Randy Smith said in a statement that the transaction is 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,” said Riverside Vice President Garrett Monda in a statement. “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 from Riverside were:
- Partner Brian Sauer
- Senior Operating Partner Dave Tiley
- Senior Associate Ken Johnson
- Analyst Elizabeth Warner
- Finance Director Ross Fuller
- Origination Vice President Stephen O’Hara sourced the add-on
