symplr Partners With Clearlake Capital Group
New Investment Fuels Growth for Leading Healthcare Governance, Risk Management, Compliance SaaS Provider
HOUSTON – symplr®, a leading provider of software as a service (SaaS) based healthcare governance, risk management and compliance solutions, today announced that Clearlake Capital Group has acquired the company from Pamlico Capital and The CapStreet Group. CEO Rick Pleczko, CFO Tres Thompson and the symplr management team will continue to lead the company.
“The symplr team is excited to partner with Clearlake,” said Pleczko. “The Clearlake investment provides a platform for our next stage of growth enabling us to further innovate to provide an expanded solution set for our customers.”
“We are impressed by the momentum at symplr under Rick and Tres' leadership, and we share their excitement that symplr will serve as an excellent platform for growth, both organically and through acquisition,” said 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.”
FREQUENTLY ASKED QUESTIONS:
Why has symplr been acquired by Clearlake Capital?
It’s symplr’s intention to grow, innovate and provide an expanded solution set to further meet our customers’ GRC needs. To support our next phase of growth we have partnered with Clearlake Capital. Clearlake is a successful, well respected private equity firm with a multi-billion fund under management.
What will happen to symplr’s leadership team?
symplr’s leadership team will continue to lead the company.
Will this change symplr’s mission?
No, symplr’s mission continues unabated: to make governance, risk management and compliance simpler for all constituents of the healthcare community.
Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.® The firm's core target sectors are software and technology-enabled services; industrials and energy; and consumer. Clearlake has managed over $8 billion of institutional capital since inception and its senior investment principals have led or co-led over 100 investments. More information is available at www.clearlake.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.
Carrie Ward, firstname.lastname@example.org 832-407-5347