The Procura Group of Companies, headquartered in Victoria, BC, sold in May of 2014 to Carrick Capital Partners, a private equity firm located in San Francisco, California.  XPS Group was the lead advisor to the Procura Group.  Services included a pricing analysis, industry and comparable research, preparation of a confidential information memorandum, a multi-national search for strategic and financial buyers, assistance with negotiations, and managing the due diligence and closing process.

The Procura Group develops, delivers, and supports home health software for community and residential providers in the Home Care and Hospice sectors.  Its multi-location, multi-service, and multi-payer solutions are designed to serve the markets in the U.S. and the Commonwealth countries.  At the time of sale, Procura had over 200 employees and subcontractors working in Canada, the United States, Australia, China, and India.

Prior to leading the sale of the Procura Group, XPS Group worked with Procura over several years to assist with business acquisitions, including a full SaaS-based solution called ContinuLink, serving 250 locations in the U.S., and a residential management and clinical care solution called PeoplePoint, serving the principal aged care organizations in Australia.  For both these acquisitions, XPS Group prepared detailed financial projection models and business cases to assist with financing.

About working with XPS Group, Warren Brown, Former Chairman and majority shareholder of Procura said, “Trust is central to the M&A process. The XPS team earned my trust, our banker’s trust, and the trust of the leadership in the companies I acquired. The XPS team’s thorough knowledge of the M&A process, and their ability to communicate effectively with me, my shareholders, and our legal team, saw us safely through several multi-million dollar international acquisitions. And, their extensive list of qualified investors enabled us to close a sale to a U.S.-based equity firm, to the lasting satisfaction of our shareholders. The buyer’s analysts attributed additional credibility to our data, because XPS vetted it.”

Procura has since been rebranded as Complia Health and, now with over 265,000 active users caring for over 1.8 million patients, continues to grow under the ownership of Carrick Capital.

About XPS Group

XPS Group has extensive experience in business valuations and related services for a broad range of industries, developed from over 400 engagements during the past 15 years. Engagements have included business and share valuations, purchase price allocations, intangible asset and goodwill impairment tests, fairness opinions, quantifications of financial losses, pricing analyses to sell a business, marketing businesses for sale, negotiating purchase and sale transactions, assisting with management buy-outs, managing the transaction process, preparing presentations, assisting to raise debt and equity, buy-side due diligence, and preparing business plans. We have also been called upon on several occasions to provide expert witness testimony to the Supreme Court of British Columbia for business valuations and the quantification of financial losses.