Dave Del Toro Makes Planned Transition to Executive Board Member
MINNEAPOLIS & SANTA MONICA, Calif.–(BUSINESS WIRE)–Provation Medical, Inc. (“Provation” or the “Company”), the premier software provider of procedure documentation and clinical decision support solutions, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), today announced that Daniel Hamburger has joined Provation as CEO effective immediately. Former CEO Dave Del Toro will continue with the Company in the role of Executive Board Member following his successful 20-year career at Provation.
“We are thrilled to welcome Daniel to the Provation team, and Dave to the Board of Directors,” said Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner at Clearlake. “Daniel is a proven industry executive who brings more than 25 years of cutting-edge technology leadership and a compelling strategic vision for the Company. We are excited for him to take the reins and lead this highly talented team as Provation continues to innovate and bring hospitals and Ambulatory Surgery Centers (“ASCs”) best-of-breed surgical software solutions.”
Mr. Hamburger is an accomplished leader with a proven track record of effectively scaling software platforms across industries. Most recently, Mr. Hamburger served as CEO of Renaissance Learning, Inc., a private equity-backed SaaS education analytics platform. He also previously served as CEO of Adtalem Global Education, a $2 billion public provider of education solutions, and of Indeliq, a venture-backed SaaS technology firm. Mr. Hamburger began his executive career as President of eCommerce for Grainger. He holds a BS and MS in Industrial and Operations Engineering from the University of Michigan, and an MBA from Harvard Business School.
Mr. Hamburger said, “I am honored to succeed Dave as Provation’s next CEO. As the industry-leading procedure documentation software solution, Provation is uniquely positioned to meet the needs of both hospitals and ASCs. With a clear strategic direction and acquisition roadmap, Provation is at an exciting inflection point, and I will be working closely with the team to further accelerate innovation and growth.”
As a member of the Board of Directors, Mr. Del Toro will remain actively engaged with key customer accounts and corporate initiatives.
“Dave has led Provation through a tremendous transformation, from the successful carve-out, to the launch of Provation’s next generation SaaS platform, Apex,” said Paul Huber, Vice President at Clearlake. “His continued participation with Provation at the Board level will be invaluable, providing for a seamless transition as the Company continues its exciting growth trajectory.”
“This transition is a continuation of a period of transformative growth for Provation and I am confident that Daniel has the right experience, strategic depth and commitment to our customers that is needed to drive Provation forward,” said Mr. Del Toro. “It has been a privilege and the highlight of my career to work alongside some of the most talented and passionate professionals in the healthcare IT industry, and I am eager to continue to support Provation’s accelerated momentum as a Board member.”
Mr. Eghbali and Mr. Mehrotra added, “On behalf of Clearlake, we thank Dave for his exemplary long-term service and commitment to Provation, and we are grateful for his continued partnership with the Company.”
Provation is a leading provider of clinical productivity software for healthcare professionals, with solutions for intelligent procedure documentation (Provation® MD and Provation® Apex), order set and care plan management (Provation® Order Sets and Provation® Care Plans), and EHR-embedded clinical documentation templates (Provation® Clinic Note). Provation software helps providers increase operational efficiencies, business profitability and regulatory compliance by improving quality, streamlining workflows and enabling insights. Trusted by leading physicians globally, Provation serves approximately 1,500 hospitals and 1,000 ambulatory surgery centers (ASCs), including 16 of the top 20 U.S. hospitals for gastroenterology (GI) and GI surgery. Provation is headquartered in Minneapolis, MN. For more information about Provation’s solutions, visit provationmedical.com and follow us on Twitter, Facebook and LinkedIn.
Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are software and technology-enabled services; industrials and energy; and consumer. Clearlake currently has over $10 billion of assets under management and its senior investment principals have led or co-led over 100 investments. More information is available at www.clearlake.com.
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