September 10, 2024- OceanSound Partners (“OceanSound”) announced the acquisition of PAR Excellence Systems Inc. (“PAR” or the “Company”), a leading provider of supply chain integrity and cost management solutions to the healthcare industry from Northlane Capital Partners (“Northlane”). Northlane and PAR’s management team will continue as investors in the Company. Financial terms of the transaction were not disclosed.
Founded in 1992, PAR enables government, non-profit, and private healthcare systems and integrated delivery networks to realize meaningful cost savings and operational efficiencies. The Company’s automated supply chain management solutions, comprised of cloud-based software, proprietary hardware products, and value-added services, allow customers to optimize medical supply inventory management to provide real-time visibility into their materials inventory and spending. Through PAR’s proprietary analytics platform, healthcare organizations save millions of dollars annually in supply and labor costs through inventory optimization, with previously manual and time-consuming tasks automated, allowing healthcare professionals to focus on patients.