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Fortive Corporation (FTV) is a global conglomerate comprising over 20 industry-leading companies, unified by a common mission: to make the world stronger, safer, and more effective by delivering essential technology to those driving progress. Established in 2016 following its spin-off from Danaher, Fortive has built a strong heritage and a proven track record of growth.
The company operates across various fast-evolving sectors such as software development, robotics, transportation, energy, and healthcare. Its portfolio includes mission-critical products and services in areas like field solutions, product realization, health, and sensing technologies. Serving a diverse range of markets including manufacturing, utilities, medical, and electronics, Fortive generated approximately $6.1 billion in revenue in 2023.
Fortive's commitment to innovation and growth is evident in its vibrant culture that emphasizes continuous learning, empowerment, and opportunity. This dynamic environment balances the excitement of a startup with the stability of an established organization, providing extraordinary opportunities for both the company and its employees. Fortive's financial strength and foundation of success ensure its ability to tackle significant challenges with real-world impact.
Fortive Corporation (NYSE: FTV) has successfully completed its acquisition of Provation Software, Inc., integrating it into its Advanced Healthcare Solutions segment. CEO James A. Lico highlighted that this acquisition will enhance workflow solutions for healthcare facilities, improving patient care efficiency. With Provation’s established clinical software and customer base, Fortive anticipates significant growth opportunities and better cash flow generation. The deal is expected to bolster Fortive's position in the healthcare sector, aligned with its strategic goals.
Clearlake Capital has announced the sale of Provation, a provider of SaaS-based clinical productivity solutions, to Fortive (NYSE: FTV). The transaction is expected to close by year-end 2021. Clearlake, which acquired Provation in March 2018, has significantly expanded its operations, resulting in double-digit organic revenue growth and doubled adjusted EBITDA over three years. Provation now serves over 5,000 healthcare systems, including 19 of the top 20 U.S. hospitals. Fortive aims to integrate Provation's expertise into its Advanced Healthcare Solutions segment.
Fortive has announced the acquisition of Provation Software for $1.425 billion, enhancing its Advanced Healthcare Solutions segment. This strategic move is poised to accelerate Fortive's position in critical workflow solutions for hospitals and ASCs. Provation, anticipated to post $110 million in revenue for 2021, serves over 5,000 customers. The acquisition expects double-digit revenue growth and over $0.08 accretion to adjusted EPS in fiscal 2022, with 70% of revenue recurring. This partnership is expected to broaden growth opportunities and enhance patient care.
Fortive Corporation has appointed Wright Lassiter III as a director, effective January 1, 2022. Lassiter, currently the President and CEO of Henry Ford Health System, brings nearly three decades of healthcare leadership experience. His expertise is anticipated to enhance Fortive's strategic direction, particularly in its Advanced Healthcare Solutions segment, as stated by CEO James A. Lico. Lassiter's background includes a role as chair-elect of the AHA Board and directorships at Quest Diagnostics and DT Midstream.
Fortive Corporation (NYSE: FTV) has appointed Elena Rosman as Vice President of Investor Relations, effective November 29, 2021. With over ten years of experience in investor relations at Aptiv and Honeywell, Rosman will report to Chuck McLaughlin, Fortive’s CFO. Her role involves leading investor relations initiatives and enhancing communication about Fortive's strategic vision and shareholder value. Current VP Griffin Whitney will assist during the transition before moving to a new role in corporate development. This move is part of Fortive's strategy to strengthen its leadership team.
Fortive Corporation (NYSE: FTV) has declared a quarterly cash dividend of $0.07 per share, to be paid on December 30, 2021, to stockholders on record as of November 26, 2021. The company remains committed to paying dividends quarterly, although future amounts and dates are subject to Board discretion. Fortive provides essential technologies across various markets, employing over 18,000 people globally.
Fortive Corporation (NYSE: FTV) announced its participation at the Baird 2021 Global Industrial Conference on November 10, 2021, at 10:15 a.m. ET. The presentation will feature CEO Jim Lico and CFO Chuck McLaughlin, with a simultaneous audio webcast available on the company's website. Fortive is a provider of essential connected workflow technologies across various markets, employing over 18,000 staff globally. The company's operations focus on continuous improvement through its Fortive Business System.
Fortive Corporation (NYSE: FTV) reported a robust 12.0% increase in total revenue for Q3 2021, reaching $1.3 billion, with core revenue growing by 9.1%. Net earnings from continuing operations stood at $151.1 million, translating to $0.42 diluted earnings per share. Adjusted diluted EPS improved significantly to $0.66, marking a 32% increase. The acquisition of ServiceChannel was completed, enhancing their portfolio in software-enabled solutions. For Q4 2021, Fortive anticipates EPS between $0.45-$0.50 and adjusted EPS of $0.74-$0.79.
Fortive Corporation (NYSE: FTV) announced leadership transitions effective January 1, 2022. Pat Murphy will move from President & CEO, Precision Technologies to President & CEO, Advanced Healthcare Solutions, while Tami Newcombe will succeed him. Barbara Hulit will step down as President & CEO, AHS, transitioning to a part-time Executive Advisor. Jim Lico, Fortive’s CEO, expressed confidence in Murphy and Newcombe's leadership capabilities, emphasizing their roles in advancing healthcare and performance across business segments.
Fortive Corporation (NYSE: FTV) will host its earnings conference call for Q3 2021 on October 28, 2021, at 5:30 p.m. ET. The event will be available via webcast on Fortive's website, with a replay accessible shortly after the call. A quiet period is currently in effect until the earnings release, during which Fortive will not engage with investors. The company specializes in connected workflow solutions across sectors such as Intelligent Operating Solutions and Advanced Healthcare Solutions, employing over 17,000 staff globally.
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