As more healthcare procedures move from hospitals to ambulatory surgery centers (ASCs), providers increasingly require specialised software to help with streamlining workflows, automating documentation and improving operational efficiency. This structural shift is driving growing demand for technology solutions tailored to the outpatient care environment, and more specifically to the ASC setting.
Surgical Information Systems (SIS) is one of the leading software and revenue cycle management providers serving this market. Today, the company supports more than 55,000 physicians and helps document more than seven million procedures annually through its technology platform.
Investing behind a growing healthcare technology niche
Founded in 1996 and headquartered in Georgia, SIS provides software and revenue cycle management solutions designed specifically for ambulatory surgery centers. Through its integrated platform, the company supports practice management, electronic medical records, revenue cycle management and more, helping providers manage critical operational and clinical workflows.
Nordic Capital had followed the ambulatory surgery center software market closely prior to investing. Extensive market research, engagement with management and analysis of the sector reinforced conviction in both SIS's position and the attractive long-term fundamentals of the market.
The investment was supported by several structural trends. As more procedures shift from inpatient to outpatient settings, procedure volumes are rising and providers are turning to digital workflows, EMRs, automation and revenue cycle solutions to keep pace. Consolidation across the ASC market is also driving demand for enterprise-scale technology platforms that unify operations, data and performance across expanding multi-site networks. In parallel, rising operational complexity, labour shortages and cost pressures are increasing the need for centralised data, standardised workflows and single-vendor software solutions.
Nordic Capital identified SIS as the platform best placed to benefit from these trends, entering the partnership on solid footing with a highly recurring revenue model, high customer retention and long-standing customer relationships, and saw an opportunity to partner with a market-leading company in an attractive healthcare technology niche to support its next phase of growth.
Accelerating platform development and expansion
Since the investment, Nordic Capital and SIS have worked together on a number of strategic priorities focused on strengthening the platform, expanding capabilities and supporting long-term growth.
One important focus area has been accelerating the migration of customers from legacy software environments to cloud-based solutions, creating a stronger foundation for future product development while enhancing the customer experience.
At the same time, SIS has invested in commercial capabilities, customer engagement and product innovation. A focal point of this has been ensuring the platform is "enterprise-grade", via a unified, scalable ecosystem and database. Overall, the company has expanded its offering to address a broader range of operational needs within ambulatory surgery centers while establishing its role as a software and services provider to the ASC market.
Revenue cycle management has been another important area of focus. As ambulatory surgery centers increasingly seek support with reimbursement and administrative processes, SIS has expanded its capabilities in this growing segment. A key milestone was the acquisition of Surgical Notes in 2024, which broadened the company's offering, added complementary expertise and expanded its footprint within revenue cycle management.
Ultimately, these initiatives have driven strong organic growth, delivered greater value to customers and accelerated SIS's vision of being the comprehensive "ASC-in-a-box" for surgeons, staff and administrators, from individual facilities to larger enterprises.
Built for continued growth
The ambulatory surgery center market continues to benefit from strong long-term growth drivers, including the ongoing shift towards outpatient care, increasing digitalisation and growing demand for operational efficiency across healthcare providers.
Nordic Capital believes SIS is well placed to serve this structural demand, as SIS Complete remains the platform of choice for ASCs. In 2026, SIS marks its 11th consecutive year as Black Book's #1 ASC Vendor, and its fourth top ranking in the last five years in the Best in KLAS #1 ASC Solution category.
As the partnership continues, Nordic Capital remains focused on supporting SIS's long-term growth ambitions and helping the company build on its role within a growing healthcare technology market.
Three questions to Tim O'Brien, CEO
What differentiates SIS within the ambulatory surgery center market?
SIS has spent almost three decades focusing exclusively on ambulatory surgery centers. That focus has allowed us to build deep domain expertise, long-standing customer relationships and solutions designed specifically for the operational and clinical needs of ASCs. We believe that combination differentiates us in the market and positions us well as customer needs continue to evolve.
How has the partnership with Nordic Capital supported SIS's development since 2024?
Nordic Capital has brought deep experience from healthcare and software businesses, as well as a strong understanding of how to scale specialised technology companies. Together, we have continued investing in product development, strengthening our commercial organisation and expanding our capabilities through initiatives such as the acquisition of Surgical Notes. The partnership has helped accelerate execution across several of our strategic priorities.
Looking ahead, what opportunities are you most excited about for SIS and its customers?
We see significant opportunities to continue expanding our platform and helping customers operate more effectively. That includes increasing adoption of cloud-based solutions, further broadening our software and services offering and supporting customers through greater automation and workflow efficiency. Our focus remains on helping ambulatory surgery centers navigate an increasingly complex healthcare environment while delivering excellent care to patients.
Published: September 2026