Deal builds on recent market momentum and establishes Medgate as an EHSQ leader
TORONTO, ON and CLEVELAND, OH (March 2nd, 2017) – Medgate, Inc. the global leader in enterprise-grade, cloud-based environmental, health, and safety risk management solutions, announced today that it has acquired IQS, Inc. The Cleveland-based quality control software company operates globally and is a leading provider of web-based enterprise quality management software that easily integrates into operations, so organizations can streamline, standardize and centralize quality and compliance data and processes. This move rounds out Medgate’s offering so that it is now the most comprehensive solution in the market, addressing Environmental, Health, Safety and Quality (EHSQ).
The deal comes just weeks after Medgate’s purchase of Environmental compliance management pioneer regAction and reinforces its position as market leader. Since receiving a strategic investment led by Norwest Venture Partners in March 2016, Medgate has been on a steep trajectory of accelerated market growth and is poised for even greater success.
IQS provides industry-leading quality management and compliance solutions to customers in key manufacturing and asset intensive industries, including Nexteer Automotve, PolyOne, Delta Faucets, Alcoa and Eaton. It has extensive experience working with customers where operational quality management is of the utmost importance such as automotive, aerospace and defense, medical device, and general manufacturing.
“I am pleased to welcome IQS’ customers and employees to the Medgate family,” said Mark Wallace, President and CEO, Medgate. “Adding Quality to our solution will enable our customers to break down another information silo and gain a broad view of overall operations. Having a single view of all business activities will inform EHS and Quality decisions, thereby delivering significant enterprise value.” He continued, “The IQS team adds deep knowledge and exceptional talent to our roster of industry experts. Together, our combined team can guide our customers on how Quality intersects with EHS. There’s so much to gain.”
“It’s such an exciting time to join Medgate,” said Michael Rapaport, President and CEO, IQS. “Together, we will define how the world’s leading companies take operational quality forward to create a sustainable competitive advantage. Our customers will benefit greatly from our comprehensive enterprise-grade solution and, most importantly, our shared values of innovation and customer success.”
EHSQ Analysts are viewing Medgate’s latest move positively.
Peter Bussey, Research Analyst at LNS Research explained, “With the acquisition of IQS, Medgate is among the select few software vendors to offer a comprehensive solution for managing environment, health, safety and quality enterprise-wide. The ongoing harmonization of quality and EHS management system standards is compelling organizations to consider a more holistic approach to managing EHSQ, and the combined offering and cloud/SaaS delivery should be attractive to those looking to consolidate processes, systems and solution providers.”
David Metcalfe, CEO, Verdantix, stated, “Adding the quality management functionality of IQS to Medgate’s EH&S platform makes sense for industries where product safety is closely correlated with process quality. This new acquisition provides further evidence of Medgate’s commitment to providing a broad, integrated platform for EHSQ.”