Hot on the heels of Ultimo’s acquisition of FSI Software, CMMS Radio interviews Steve Elsham, CEO at Ultimo alongside Zach Seeley, CEO at FSI Software. They talk about the combination of Ultimo’s broad enterprise asset management (EAM) expertise with FSI’s deep healthcare computerized maintenance management system (CMMS) knowledge.
They explain how both brands will stay independent but share resources under IFS, accelerating artificial intelligence (AI)-driven innovation and enhancing solutions. Also, how clients stand to gain stronger support and better tools to manage complex, safety-critical healthcare maintenance.
The episode demonstrates that Ultimo is expanding rapidly in US healthcare market by acquiring FSI’s trusted platform and expertise. The combined strengths are driving faster innovation and AI capabilities across both products – and the partnership improves healthcare asset management with enhanced safety and efficiency.
Watch the full 20-minute interview here.
In this episode, Steven Elsham explains, “The US market is huge, and fast-growing, and you get challenges from US-based clients that you don't get from many European clients. So, it's a phenomenal market to be present and active in, because it gives you great feedback, and it really challenges your organization to develop high-end capabilities to serve that market really well.”
How is this going to benefit Ultimo customers?
Elsham continues. “It is the capability in that FSI platform, which we're really looking forward to taking back to our European clients. We have 80% of the hospitals and medical facilities in the Benelux region, they're going to start to enjoy the benefits of the capabilities that are woven into the FSI platform as we bring those across to the ultimate platform.”
What does the Ultimo acquisition mean for the FSI clients?
“The best way to think about it is that we have a knowledgeable strategic partner who has deep experience in serving complex customers and industries for decades, and a shared appreciation that maintaining the physical world is really difficult and really important, explains Seeley. “And when you layer on additional dimensions like safety or patient safety and patient outcomes, it adds just that extra aspect, that extra importance for what our customers do every single day.”
“We now have a partner that really can supercharge us from a resource investment knowledge standpoint, to ensure that our platform grows, expands, innovates, in order to continue serving those specialized needs for us, healthcare customers and beyond,” he continues.
“For us, it's a continuation of the deep focus that we have in healthcare and serving the unique needs of facilities in HTM, healthcare departments and leaders across the US, but doing so with more resources to put to bear to ensure that we are leveraging the best of technology to help them solve their problems and empower them to get the really difficult work that they have in front of them completed in an efficient and safe, safe way,” says Seeley.
It's more than that exchange of capabilities across the products.
“It's much more about what we can do together than we couldn't do individually,” says Elsham. “The best example of that, is how we start to develop the digital labor capabilities that sit atop both platforms. So those are the agentic AI capabilities that Ultimo has been designing and developing those are going to be deployed on the Ultimo product but also going to be deployable on the FSI product as well.”
Will it be FSI an Ultimo company, or FSI, an IFS company? Do we know that yet?
“We're going to keep the FSI brand, confirms Elsham. “The FSI brand has a lot of equity in the healthcare market. It's a trusted brand. It is recognized generally as the market leader in healthcare in the US. Yet we would be crazy to not utilize and leverage that brand.”
You can meet both companies at events and trade shows across the US through the rest of 2025, including SMRP, and the FSI Software User Conference in Denver, Oct 1-3, 2025.
Read more about the FSI Software acquisition here. Watch the full 20-minute episode of the CMMS Radio interview here, or request a conversation about asset maintenance, AI, CMMS, EAM and beyond, here.
