Five Arrows, TA-backed RLDatix acquires Verge Health

RLDatix has made the acquisition to accelerate its position in the patient safety software market. After a brief transition period, the Verge Health brand will adopt the RLDatix brand.

The company's management team will stay on following the transaction.

Five Arrows Principal Investments acquired Datix, from Bowmark Capital in 2013. Later in 2018, TA Associates bought a stake in the business, while Five Arrows continued to retain a stake in the business, jointly with TA.

In June 2018, Datix and RL Solutions, a Toronto-based patient safety software provider, merged to form RLDatix.

Company
Founded in 2001, Verge Health is a Mt Pleasant, South Carolina-based software developer focused on hovernance, risk and compliance in healthcare companies. It generates $29m, according to Zoominfo.

Advisers
Company – Triple Tree Advisors (corporate finance).

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