TripleTree has advised private investment firm Clearlake Capital Group on its acquisition of symplr, a healthcare governance, risk and compliance (GRC) software-as-a-service (SaaS) platform, from Pamlico Capital and The CapStreet Group. The sellers were advised by Moore & Van Allen on the deal.
symplr provide management, credential management and payer enrolment services to over 1,500 customers representing more than 4,000 healthcare facilities in North America. symplr’s broad platform provides an end-to-end software solution for healthcare organisations to manage the compliance and credentialing requirements of their provider, staff and contractor communities.
“Healthcare professionals are faced with an increasing amount of stringent and complex compliance requirements, with the ongoing shift to value-based care,” says Dan Groen, Principal, and Paul Huber, Vice President, of Clearlake. “We believe symplr’s leading software solutions uniquely position the Company to address these market trends and accelerate its growth trajectory.”
“We are impressed by the momentum at symplr under Rick and Tres’ leadership, and we share their excitement that the Company will serve as an excellent platform for growth, both organically and through acquisition,” says Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake. “symplr represents one of several healthcare IT investments for Clearlake in 2018, and we continue to view the sector favorably as cloud-based, purpose-built vertical solutions automate provider and payer workflows, driving revenue and lowering spend. We look forward to leveraging our O.P.S.® approach to support the management team and its many talented employees in continuing to provide best-in-class healthcare GRC software solutions to its global customer base.”
“symplr’s comprehensive GRC platform addresses a growing list of complexities for healthcare professionals,” adds Brian Klemenhagen, TripleTree Managing Director. “We are excited to watch the Company’s continued growth as it partners with Clearlake in the coming years.”
TripleTree acted as a financial advisor to Clearlake for this transaction.
