Riverside Partners’ Portfolio Company Loftware Acquires PRISYM ID
BOSTON, Jan. 11, 2022 /PRNewswire/ — Loftware, Inc. (“Loftware” or the “Company”), the largest global software company specializing in Enterprise Labeling and Artwork Management solutions, today announced that it has acquired PRISYM ID, a leading provider of regulated content and label management solutions with a focus on clinical trials, medical device and pharmaceutical labeling. Loftware is a portfolio company of Riverside Partners, a Boston-based private equity firm.
Over the course of Riverside Partners’ investment in Loftware, the Company has grown substantially, expanding both its software solutions offering and global presence. The acquisition of PRISYM ID is the latest chapter in this transformation and furthers Loftware’s long-standing commitment to the medical device and pharmaceutical industries. The acquisition enhances Loftware’s end-to-end cloud-based labeling platform by adding advanced clinical trial labeling and regulated content management capabilities.
“We are thrilled to support the combination of Loftware and PRISYM ID,” said David Belluck, a General Partner at Riverside Partners. “Riverside specializes in investing in both middle market healthcare and technology businesses. The goal in bringing Loftware and PRISYM ID together is to create an industry leader serving key healthcare end markets that will provide best-in-class software solutions for customers. The acquisition provides additional scale and scope for the business, and further strengthens Loftware’s industry leadership.”
The union furthers Loftware’s long-standing commitment to medical device and pharmaceutical customers and strengthens the Company’s ability to meet labeling complexities and evolving regulatory demands. The need to improve agility, manufacturing, and distribution in support of patient safety and healthcare outcomes has never been more vital as COVID-19 has amplified the challenges in medical device and pharmaceutical supply chains.
“This acquisition builds on Loftware’s and PRISYM ID’s experience and unites the best talent in the medical device and pharmaceutical labeling industry today. Combined, we serve many of the largest global companies with solutions, services and support that are vital to managing labeling complexities and regulatory requirements,” stated Loftware President and CEO, Robert O’Connor Jr. “PRISYM ID is a pioneer in clinical trials labeling and delivers solutions that are purpose built for managing the nuances of this space. We will enable customers to tackle the complex challenges around clinical trial labeling and help them with the ability to quickly and efficiently complete trials,” he added.
Building on PRISYM ID’s industry focus, Loftware will offer customers new levels of innovation to help enable compliance through accurate, validation-ready labeling solutions and regulated product content, while also growing the Loftware platform and offering more services to these strategic markets. The platform empowers companies to optimize continuity, improve agility and enable traceability as they’re faced with new and ensuing challenges around today’s complex supply chain, which has placed extra emphasis on the importance of labeling.
About Loftware
Loftware is the world’s largest cloud-based Enterprise Labeling and Artwork Management provider, offering an end-to-end labeling solution platform for companies of all sizes. Maintaining a global presence with offices in US, UK, Germany, Slovenia, China, and Singapore, Loftware boasts over 35 years of expertise in solving labeling challenges. Loftware helps companies improve accuracy, traceability and compliance while improving the quality, speed, and efficiency of their labeling. As the leading global provider of Enterprise Labeling and Artwork Management solutions, Loftware enables supply chain agility, supports evolving regulations, and optimizes business operations for a wide range of industries including automotive, chemicals, consumer products, electronics, food & beverage, manufacturing, medical device, pharmaceuticals, retail and apparel.
About PRISYM ID
PRISYM ID provides regulated content and label management solutions designed specifically for life science companies and medical device manufacturers, improving patient safety and health outcomes whilst ensuring regulatory compliance. PRISYM ID’s unique products and technologies are used to assure compliance globally, for 10 million+ medical device, clinical trials and pharmaceutical products annually.
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm with total capital commitments of $1.6 billion raised since inception. The firm focuses on growth-oriented companies in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners, and management teams and brings substantial domain expertise and operating experience to its portfolio companies. For more information, visit www.riversidepartners.com.
View original content:https://www.prnewswire.com/news-releases/riverside-partners-portfolio-company-loftware-acquires-prisym-id-301458572.html
SOURCE Riverside Partners
