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.
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SOURCE Riverside Partners