symplr and Vistar Join Forces to Create Software Leader for Healthcare Provider Management
HOUSTON, TX AND WELLINGTON, FL - MAY 18, 2017 – symplr®, a leading provider of software as a service (SaaS) based healthcare compliance and credentialing solutions, today announced it has joined forces with Vistar Technologies (“Vistar”), a leader in the development and support of provider management software for healthcare providers, managed care and payer organizations. The combined company is now a clear market leader in provider management software with the largest customer base, and most comprehensive product and service offerings.
Combined, the symplr and Vistar product portfolios create the broadest provider management software platform covering credentialing, privileging, payer enrollment, event reporting, professional practice reporting, peer review, network management, contracting, recruiting, onboarding, provider relations management, quality management, and systems integration. The functionality of the combined provider management software platform supports all aspects of provider data management for healthcare delivery.“Vistar has an excellent track record of success in delivering provider management solutions for the payer and managed care market, and we are excited to combine our product and customer portfolios with this highly regarded company,” said Rick Pleczko, President and CEO of symplr. “We are proud to now say that our combined company offers an unparalleled solution for healthcare facilities, managed care organizations, payers and providers.”
symplr now delivers software solutions to more than 4,000 healthcare organizations, enabling these organizations to efficiently and effectively manage their provider information to increase efficiency, mitigate risk, increase patient safety and improve quality of care.
“By listening to customer and market needs, Vistar and symplr have both established leadership positions in our respective markets,” said Myra Ameigh, President and CEO of Vistar Technologies. “We are excited to join forces with symplr to continue to offer our customers next generation provider management solutions - solutions that deliver integrated support for all constituents of the healthcare community.”
symplr is a portfolio company of The CapStreet Group and Pamlico Capital. Healthcare Growth Partners served as financial adviser to symplr, CapStreet and Pamlico. Bailey Southwell served as financial adviser to Vistar Technologies.
Neil Kallmeyer, Managing Partner at The CapStreet Group, stated, “The completion of the Vistar and symplr transaction represents symplr’s fifth transaction in less than three years. We continue to pursue acquisition opportunities to further expand symplr’s product offerings, solidifying the company's position as the leading compliance and credentialing company in the healthcare industry.”
Brian Chambers, Principal at Pamlico Capital, added, “With a focus on both the payer and provider sides of the market, we’re excited about the opportunity available to the combined company. We look forward to working with the symplr team to help further fuel their growth in the coming years.”
Vistar Technologies has been delivering state-of-the-art workflow solutions for provider and network management for many of the nation’s largest health plans and providers since 1997. Vistar’s solution serves as a central provider data repository for compliance, integration, quality analysis, data access and reporting. For more information or to contact Vistar Technologies, call (888) 266-4532 or visit http://www.vistartech.com
Founded in 2006, symplr is an industry leader in compliance and credentialing Software as a Service solutions that help healthcare organizations mitigate risk and ensure compliance. symplr , has a single mission: to make healthcare compliance and credentialing simpler for all constituents of the healthcare community. For more information or to contact symplr, visit http://www.symplr.com/ or (866) 373-9725.
About The CapStreet Group
The CapStreet Group is a private equity firm founded in 1990 that invests in owner-managed, middle market companies headquartered in Texas and surrounding states. CapStreet targets companies operating in diversified business service sectors, including industrial distribution and industrial manufacturing businesses and partners with management teams and existing owners to accelerate growth and improve profitability. For additional information, please visit http://www.capstreet.com
About Pamlico Capital
Pamlico Capital is a private equity firm founded in 1988 that invests in lower middle market companies in the U.S. Pamlico Capital seeks control-oriented growth equity investments of up to $100 million alongside proven management teams in its target industries: business & technology services, communications, and healthcare. Since inception, the firm, based in Charlotte, NC, has invested over $2.5 billion. For additional information, please visit http://www.pamlicocapital.com.