Private-equity firm The Riverside Company announced it has invested an undisclosed sum in Censis Technologies, a surgical instrument tracking company based in Franklin.
Censis' tracking solutions help ensure accuracy and compliance for sterile processing departments in hospitals and other surgical centers. The company's software can locate instrument trays as well as gauge incorrect assembly or insufficient sterilization. Randy Smith, Censis CEO, said in a release that the investment will enable the company to expand its services in the U.S. and internationally.
"We will continue to lead the market in innovation and be in an enhanced position to develop new products that will benefit our existing and future customers," Smith said. "This investment will allow our company to continue to function independently while leveraging the vast resources of Riverside, which greatly benefits the company, our clients and our employees."
Riverside, which has seven U.S. locations and a number of offices in Europe and Asia, will support Censis' growth plans and seek strategic add-ons for the company. Managing director Graham Hearns said finding complementary businesses as potential additions is a core piece of Riverside's investment strategy.
"As hospitals face the increasing demands of more regulation and the need to be more efficient while delivering exceptional care, the service Censis provides will become even more valuable," said Brain Sauer, Riverside partner. "Censis delivers a cost-effective way to increase compliance and improve patient outcomes, while delivering a high ROI. It's a great business."
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