Monday, March 12, 2018

Clearlake Capital Acquires Provation

Santa Monica-based private equity investor Clearlake Capital Group said this morning that it has acquired Minneapolis, Minnesota-based Provation Medical, a developer of software for the healthcare documentation and coding market. Financial details of the buy were not announced. Clearlake said it acquired Provation Medical from Wolters Kluwer. Provation was founded in 1994, and is led by CEO David Del Toro, who continues on at the company and joins Provation's board of directors. Clearlake and Provation said that Provation serves approximately 1,5000 hospitals and 1,000 ambulatory surgery centers.

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