AlayaCare buys Procura for $40 million
January 8, 2020
MONTREAL – AlayaCare, an award-winning technology platform for home and community care, has announced the acquisition of Procura, a division of Complia Health, a leading global provider of enterprise software for long-term and post-acute care organizations. With nearly 200 customers, Procura was founded in 1989 and has operations in Canada and Australia.
“We have a tremendous amount of respect for the entire Procura team and the industry-leading solutions they have built. We are thrilled to welcome their team and customers to the AlayaCare family,” said Adrian Schauer (pictured), AlayaCare CEO & founder. “This acquisition enables us to offer an unrivaled solution set to organizations of all sizes around the world, strengthening our vision of becoming the world’s most trusted home and community care technology provider.”
According to an article in the Globe and Mail newspaper, AlayaCare generates $19 million in annual revenue, while Procura produces annual sales of $25 million.
However, AlayaCare’s revenue expanded by 2,732 percent over the past four years, while Procura’s growth has been minimal.
AlayaCare raised funding of US$35 million, six months after raising $51 million from Quebec investment companies, to assist with the acquisition, which has an estimated value of $40 million plus.
AlayaCare offers cloud-based, software-as-a-service subscriptions for home healthcare professionals. The company’s software assists with tasks like referral intake, assessments, scheduling and dispatching, records retrieval, billing and payroll.
Artificial intelligence is used to optimize care-giver routes and to predict which patients will need visits.
Since its inception in 2014, AlayaCare has provided its solutions home and community care organizations in Canada, United States and Australia.
As AlayaCare and Procura are merged, Scott Overhill, GM Procura, will continue to oversee the Procura division and Isaac Alexander, previously Chief Technology Officer of Complia Health, will also be joining the executive team as Chief Architect.
“Procura is built on a solid foundation offering a deep and comprehensive solution,” said Overhill. “The combination of Procura’s team talent, market expertise and product features will amplify the value AlayaCare delivers to customers.”