Fortive to Pay $1.4 Billion for Clearlake’s Provation Medical

Fortive Corp. has agreed to acquire health-care software maker Provation Medical for more than $1.4 billion from its private equity owner Clearlake Capital Group LP.

Fortive expects to finance the acquisition with short-term debt and available cash, the company said in a statement confirming an earlier Bloomberg News report. Fortive estimated that the deal will be accretive to adjusted diluted net earnings, adding more than 8 cents a share in its 2022 fiscal year.

Shares of Fortive rose as much as 3.6% Friday. The shares were little changed at $74.24 at 2:26 p.m. in New York, giving the ...