Simulations Plus Expands with Strategic Pro-ficiency Acquisition

Simulations Plus (SLP) just unveiled an announcement.

Simulations Plus, Inc. successfully acquired Pro-ficiency Holdings, Inc., purchasing all of its capital stock for $100 million, with provisions for post-closing financial adjustments. This strategic move led to the integration of Pro-ficiency as a wholly-owned subsidiary, bolstered by indemnification agreements and a $10 million R&W Insurance Policy to cover potential breaches of the Purchase Agreement. The acquisition recognized key executives with substantial bonuses and appointed Pro-ficiency’s CEO, Michael Raymer, as Business Unit President under a new employment agreement, highlighting his extensive experience in healthcare executive leadership.

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