Periscope Equity Announces Investment in Allen Technologies
Periscope Equity LLC (“Periscope”), a Chicago-based private equity firm that invests in lower-middle market technology-enabled business services companies, announced that it has acquired Allen Technologies Inc. (“Allen”), the pioneer in interactive patient engagement solutions. This represents Periscope’s sixth investment in the healthcare data, technology and services sub-sector.
Based in Austin, Texas, Allen transforms the way hospitals engage, educate and empower patients with its E3 Patient Engagement Solution. Allen works with some of the most innovative healthcare providers in the world helping to impact patient outcomes, improve patient satisfaction and achieve operational efficiencies. Allen’s multiplatform interactive patient engagement system, delivered via television, tablet and bedside monitor, is a robust patient-centric portal for customized patient education, in- room comfort control and entertainment. The Allen solution integrates seamlessly with electronic medical records and system platforms including HVAC, housekeeping and food service systems.
“Our team has built a suite of patient-centric capabilities that is moving the bar for patient satisfaction at hospitals across the country,” said Mark Lancaster, president of Allen. “While we were first to market with interactive solutions many years ago, we have never rested on that. Rather, we have continued to seek out new ways to maximize new technologies to improve the patient experience. Our partnership with the Periscope team brings incredibly valuable industry knowledge and strategic vision as we continue to move Allen into the future.”
“Allen Technologies is truly a unique asset in the acute setting that is helping world-class hospitals drive greater patient outcomes. We were impressed with the significant strides the Allen team has made in lowering the cost and time to deploy across multiple technology platforms. We see tremendous opportunity to further invest in the technology and extend the solution into new markets as the healthcare ecosystem continues to expand,” said Steve Jarmel, partner at Periscope Equity.
About Allen Technologies
Allen Technologies, the pioneer of interactive patient engagement solutions for nearly 40 years, transforms the way hospitals engage, educate and empower patients. Allen helps hospitals impact patient outcomes, improve patient satisfaction and achieve operational efficiencies. Allen’s multiplatform interactive patient engagement system, delivered via television, tablet and bedside monitor, is a robust patient-centric portal for customized patient education, in- room comfort control, and entertainment. Allen’s E3 Patient Engagement Solutions integrate seamlessly with electronic medical records and system platforms including HVAC, housekeeping and food service systems. Learn more at www.engagewithallen.com, at facebook.com/allentechnologies or on Twitter at @allen_E3.
About Periscope Equity LLC
Periscope Equity is a Chicago, Illinois-based private equity firm, focused on buyouts of technology-enabled business services companies. Periscope focuses exclusively on investments within niche sector leaders across five key verticals with unique mission or operationally critical products, data, technology or service offerings, a history of sustainable profitability and cash generation and known avenues of growth. In addition to providing liquidity, financial capital and commercial access through its extensive network, Periscope seeks to align and work in harmony with proven, like-minded management teams and bring strategic, operational, product and acquisition expertise to help transform and scale such companies to drive superior investment returns on an accelerated schedule. For more information, please visit www.periscopeequity.com.