DALLAS — Detailed in last week’s article, “Contingent Workforce Staffing M&A Still Hot, but there’s a Catch,” buyers, investors, sellers, and equity holders have quickened transaction pace ahead of the new year for a variety of reasons. Partnering with the next Contingent Workforce unicorn and anticipating 2022 regulatory hurdles are among the factors fueling the sense of urgency.
A potential rocket-ship growth company Prolucent Health just wrapped up a series A round that will inject $11.5 million into the company. Prolucent Health’s product offering is focused on managing contingent labor in the healthcare industry. Utilizing a talent-engagement platform called Liquid Compass that possesses built-in analytics and AI solutions, Prolucent Health is aiming to modernize recruitment for health care customers, while providing a Contingent Workforce cost savings for provider programs managing contract and project-based labor.
“With an intensifying labor shortage further fueled by COVID-related issues and worsening due to the changing needs of workers, there is an urgent need for cost-effective and sustainable workforce solutions that streamline how hospitals and health systems connect with, access, and manage the talent they need,” stated Bruce Springer, co-founder and CEO of Prolucent Health. “Our investors share our vision for building more transparent, intelligent healthcare workforce solutions that reduce overall labor costs for health systems. Their proven track record of investment success will be invaluable in advancing Prolucent’s mission.”
SpringTide Ventures and Health Velocity Capital co-pilot the series A round with participation from UnityPoint Health Ventures. Moving into the new year, SpringTide Ventures co-founder and Managing Partner Austin Walters and Health Velocity Capital Principal Grant Blevins join Prolucent Health’s board of directors.
While sourcing and securing the next game-changing talent platform never has an expiration, 2022 regulatory realities such as capital gains tax reform, lingering COVID restrictions, labor-law judgments, and compliance changes may have some investors and buyers feeling uncertainty and not wanting to be left holding the hot potato.
“We believe the current record M&A market will continue into the first half of 2022,” said Paul H. Pincus, Partner and Head of the private company Mergers and Acquisitions practice, and Staffing practice, at Ortoli Rosenstadt on a recent email exchange with ContingentWorkforce.com.