Symplr, an international healthcare operations provider, is receiving a sizable strategic investment from a top-level PE firm. Charlesbank Capital Partners is joining Clearlake Capital Group as an institutional investor in the company, which has established a full-stack platform for enterprise healthcare operations.
Symplr’s service coverage in the U.S. includes risk management, governance, and compliance SaaS. The software company’s cloud-based, unified system of record can facilitate a plethora of healthcare data needs along the lines of workforce, provider, and spend management. The expert assistance provided in regulatory and compliance matters has driven Symplr’s value up and attracted multiple investors. Charlesbank will now support the company to advance its ongoing build-and-buy market philosophy.
Symplr was a major addition to Clearlake’s portfolio in 2018, and the PE firm has to date made seven other acquisitions. Behdad Eghbali, that firm’s Co-Founder and Managing Partner, said, “Since our initial investment, Symplr has enhanced its position as a cloud industry leader within healthcare GRC through accelerated product innovation, expanded solution breadth, and strategic acquisitions. We are excited to work hand-in-hand with the Charlesbank team as partners in Symplr as the Company continues to execute on its strategic roadmap.”
Upon the closing of the deal, Ryan Carroll and Hiren Mankodi, Managing Directors of Charlesbank, and their associate Pedro Vaz, will be sitting on the Board of Directors for Symplr. Terms and conditions of this investment were not disclosed.