Ultimo acquires FSI to boost healthcare asset management in US
Ultimo has completed the acquisition of FSI, a US-based healthcare facilities and technology management software firm, marking its second purchase in the United States within the past 12 months and its third since 2024.
This acquisition strengthens Ultimo's capabilities in the healthcare industry by adding FSI's specialised Computerised Maintenance Management System (CMMS), which is designed specifically for healthcare service professionals. FSI's solutions are currently used by more than 1,000 departments across hospitals, healthcare systems, and universities, spanning areas such as digital transformation, data management, and asset discovery.
Healthcare focus
Steven Elsham, CEO of Ultimo, highlighted the increasing pressures faced by hospitals and healthcare operators. He stated, "Hospitals and healthcare operators are under pressure to digitise fast, stay compliant, and drive down risk in environments where asset performance directly impacts patient care. By bringing FSI's trusted capabilities together with Ultimo's EAM capabilities and AI-first vision, we're delivering a suite of solutions and intelligence customers need to take control of their assets, reduce operational friction, and drive measurable impact."
The company, which already has a significant presence in healthcare asset management in the Netherlands and Belgium, sees this move as a way to deepen its footprint within asset-intensive sectors in the United States. Ultimo has committed to maintaining support and stability for FSI customers, whilst investing further to pursue market leadership for FSI's offerings.
Continued US expansion
Ultimo's US expansion strategy includes its 2024 purchase of Mainsaver and new partnerships established with ABS, TwinThread, and Q-mation in 2025. Its US client base covers organisations such as CDF, AC Foods, Conmet, and Rockfon Chicago.
Zachary Seely, CEO of FSI, commented on the potential benefits for FSI customers following the acquisition. He said, "This is an exciting new chapter for FSI and its customers as we accelerate investment in solutions that equip customers to tackle regulatory complexity, drive operational efficiency, and accelerate digital transformation. Our customers will have the opportunity to access Ultimo's AI-first roadmap, including its agentic AI framework."
Industry recognition
Ultimo's recent awards include being named a Leader in the Verdantix Green Quadrant: EAM Software Report, where it received high scores for market momentum and product capabilities. Additionally, Ultimo has been designated as a Customer's Choice by Gartner Peer Insights for its enterprise asset management solution.
FSI's cloud-based CMMS platform manages over 650 million square feet and more than five million assets, processing upwards of 10 million work orders annually. The system is intended to offer healthcare organisations accurate, standardised, and actionable data to support both compliance and efficiency in day-to-day operations.
This completed acquisition aligns with Ultimo's strategy to provide solutions that cater to the regulatory, operational, and technological demands of healthcare and asset-intensive sectors in the US, expanding both its product portfolio and customer reach.
