Fortive’s US$1.425 Billion Acquisition of Provation Software

Sidley advised Provation Software on the deal, while Kirkland & Ellis advised Fortive Corporation.

Provation Software, a Clearlake Capital Group, L.P. portfolio company, announced its sale to Fortive Corporation for US$1.425 billion. Fortive is a provider of clinical workflow software solutions used in hospitals and ambulatory surgical centers. Provation delivers healthcare software solutions to enhance clinical productivity, care coordination, and reporting and billing accuracy. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close by the end of the year.

The Sidley team was led by Mehdi Khodadad (Picture) and Nicolai Schwarz-Gondek (M&A and Private Equity), and included Mark Castiglia, Avni Mehta, Jim Warczak, Mariana Orbay, and Keegan Hawkins (M&A and Private Equity); Eric Kauffman and Emily Wajert (Employment); Stacy Crosnicker and Sarah Recktenwald (Employee Benefits and Executive Compensation); Kyle Barnett (Technology and IP Transactions); Rachel Kleinberg and Jonathan Westreich (Tax); Karen Kazmerzak, Ken Daly, Elizabeth Chen, and Jakob Dewispelaere (Antitrust and Competition); Sven De Knop and Alessandra Moroni (International Trade); Mark Langdon and Jon Zucker (Healthcare Regulatory); and Ash Nagdev and Sheri Porath Rockwell (Privacy and Cybersecurity).

The Kirkland team was led by corporate partner Rachael Coffey and associates Jimin He, Deborah Kotkin and Tomi Olutoye and included partner Daniel Wolf.    

Involved fees earner: Rachael Coffey – Kirkland & Ellis; Jimin He – Kirkland & Ellis; Tomi Olutoye – Kirkland & Ellis; Daniel Wolf – Kirkland & Ellis; Kyle Barnett – Sidley Austin LLP; Mark Castiglia – Sidley Austin LLP; Elizabeth Chen – Sidley Austin LLP; Stacy Crosnicker – Sidley Austin LLP; Ken Daly – Sidley Austin LLP; Sven De Knop – Sidley Austin LLP; Jakob Dewispelaere – Sidley Austin LLP; Eric Kauffman – Sidley Austin LLP; Karen Kazmerzak – Sidley Austin LLP; Mehdi Khodadad – Sidley Austin LLP; Rachel D. Kleinberg – Sidley Austin LLP; Mark Langdon – Sidley Austin LLP; Avni Mehta – Sidley Austin LLP; Alessandra Moroni – Sidley Austin LLP; Ash Nagdev – Sidley Austin LLP; Sarah Recktenwald – Sidley Austin LLP; Sheri Porath Rockwell – Sidley Austin LLP; Nicolai Schwarz-Gondek – Sidley Austin LLP; Emily Wajert – Sidley Austin LLP; Jim Warczak – Sidley Austin LLP; Jonathan Westreich – Sidley Austin LLP; Jon Zucker – Sidley Austin LLP;

Law Firms: Kirkland & Ellis; Sidley Austin LLP;

Clients: Fortive Corporation; Provation Software;

Martina Bellini

Author: Martina Bellini