Sentio Partners has advised the shareholders of 247 Time, a leading cloud-based supplier of contingent healthcare workforce software, on its sale to Allocate Software.
247 Time provides vendor management, payroll and direct engagement technology to healthcare and enterprise sectors. The acquisition of 247 Time will enable end-to-end links between agency systems and bank and eRostering software so healthcare organisations can source staff quickly, safely and cost-efficiently. The global shortage of healthcare staff means that organisations in many countries are reliant on staffing agencies. This supports Allocate’s strategy to develop an interoperable ecosystem of solutions and partners to further increase the impact of Allocate’s core Optima platform, including its HealthRoster and HealthMedics solutions.
Today, the Optima workforce platform and associated solutions are used by over a million health and social care workers globally. With 247 Time’s vendor management and direct engagement software, Allocate will now offer a choice of solutions that either can operate independently or as an end-to-end solution for the management of clinical staff sourced via agencies or employed directly.
Nick Wilson, CEO, said: “This is an important addition to Allocate and a key element in ensuring that our solutions meet the diverse and demanding workforce needs of the healthcare sector. This is a very natural extension for Allocate, bringing functionality that our customers have asked us to add. The 247 Time solutions together with our partnership approach will allow us to empower our customers with choice, ensuring they have an option that is right for them.”
Dave Brooks, Managing Director 247 Time, said: “I am thrilled the 247 Time team is joining Allocate, as many of our customers already use Allocate’s leading e-Rostering solutions. Our combined offering will be a significant benefit to customers and others by providing more joined up solutions and improved agency control.”
Will Arnold and Dave Irwin of Sentio Partners acted as lead advisors to the shareholders. Will Arnold said: “The acquisition of 247 Time by Allocate Software was driven by the compelling commercial benefits to customers of providing an end-to-end service across eRostering and agency management systems. We are delighted to have supported the shareholders in delivering a deal that offers tangible opportunity to drive efficiency in the healthcare sector.”
