Bluesight Acquires Protenus to Bolster Healthcare Compliance
Deal News | Jan 09, 2025 | Arthur Ventures LLC
Bluesight, a leader in inventory management and compliance solutions for health systems, has acquired Protenus, a pioneering company in healthcare compliance analytics. This strategic acquisition aims to enhance Bluesight's drug diversion platform and introduce critical patient privacy monitoring capabilities. By integrating Protenus' AI-driven risk-reduction solutions, Bluesight intends to elevate healthcare compliance and safety standards. Protenus, founded in 2014, is recognized for its strong presence across the United States, delivering compliance technology to hundreds of healthcare organizations. Financial and legal advisories were provided by Baird, Kirkland & Ellis LLP, and DLA Piper LLP. This union strengthens Bluesight’s offerings, creating a comprehensive platform to address operational challenges in healthcare.
Sectors
- Healthcare Technology
- Private Equity
Geography
- United States – Both Bluesight and Protenus are based in the United States, and the acquisition targets hundreds of healthcare organizations within this geography.
Industry
- Healthcare Technology – The acquisition combines healthcare compliance analytics and inventory management platforms, enhancing technology solutions for healthcare systems.
- Private Equity – Involvement of Arthur Ventures LLC in facilitating and supporting the acquisition aligns it with private equity industry activities.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bluesight | Acquirer | Company | Bluesight provides inventory management and compliance solutions for health systems and hospital pharmacies. |
| Protenus | Target | Company | Protenus offers a healthcare compliance analytics platform using AI for risk-reduction to improve patient outcomes. |
| Arthur Ventures LLC | Private Equity Firm | Company | Arthur Ventures LLC is involved as a strategic facilitator in the acquisition process. |
| Baird | Financial Advisor | Company | Baird served as a financial advisor to Protenus during the acquisition. |
| Kirkland & Ellis LLP | Legal Advisor | Company | Kirkland & Ellis LLP provided legal counsel to Thoma Bravo & Bluesight. |
| DLA Piper LLP | Legal Advisor | Company | DLA Piper LLP served as legal counsel for Protenus. |