SANTA MONICA, Calif. and HOUSTON, Aug. 19, 2021 /PRNewswire/ -- symplr®, a global leader in enterprise healthcare operations including governance, risk management, and compliance ("GRC") SaaS solutions, backed by Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake") and Charlesbank Capital Partners, LLC1 ("Charlesbank"), announced today the acquisition of SpinFusion. SpinFusion, a healthcare scheduling software provider with a focus on physician scheduling, will join symplr's growing portfolio of workforce management offerings that enable healthcare organizations to better optimize staff. Terms of the transaction were not disclosed.
The Association of American Medical Colleges (AAMC) projects that the United States will face a shortage of between 54,100 and 139,000 physicians by 2033. That significant shortage of physicians will add additional strain on hospitals and health systems that are already under tremendous pressure to reduce costs and improve outcomes.
"Adding SpinFusion to our growing workforce management portfolio is particularly important given today's challenging healthcare environment," said BJ Schaknowski, CEO of symplr. "Physician demand far exceeds supply and optimal staffing logistics are essential to an organization's bottom line. SpinFusion's web and mobile staffing solutions enable physician schedules to be easily managed and viewed in real time for maximum productivity."
symplr's workforce management SaaS solutions make it easier for healthcare organizations to hire, keep, optimize, and grow their entire workforce and improve provider workflow so that they run more efficiently. They empower organizations to make data-driven staffing decisions to help contain and manage labor costs, improve productivity, increase staff engagement, and positively impact patient outcomes. The addition of SpinFusion enables symplr to better address the unique and increasingly complex needs of physician scheduling. In doing so, physician schedules are optimized, and patient outcomes—and satisfaction—are improved.
"The release of our fifth-generation staffing logistics platform this year was built on our nearly two decades of experience and is positioned for a market paradigm shift. We are thrilled to join symplr, a true juggernaut in the healthcare technology space," said Matt Mendez, MD, Founder of SpinFusion. "Together, this combination creates a new class-leading option for healthcare enterprises. Finally, the patchwork quilt of inadequate technology can be replaced by one optimized platform with two equally important goals: better operations, better outcomes."
"This strategic acquisition marks another milestone for symplr as SpinFusion provides highly complementary provider scheduling software, expanding the company's workforce management portfolio and staffing capabilities," said Paul Huber, Principal, and Sean Courtney, Vice President, of Clearlake. "The addition of SpinFusion reinforces symplr's position as a healthcare GRC software leader, and we look forward to supporting the company as it continues driving industry consolidation and accelerating organic growth."
"The SpinFusion acquisition further demonstrates symplr's ability to execute on its accretive acquisition strategy," said Mike McGuire, Senior Vice President of Charlesbank. "We are excited about the prospects for the combined company and, following the closing of our investment, look forward to working with symplr's team as it broadens its capabilities and continues to find new ways to deliver greater value to its customers."
The acquisition of SpinFusion represents symplr's thirteenth acquisition in the past six years, and its eighth under sponsorship from Clearlake since November 2018. In July, symplr added healthcare talent acquisition software provider HealthcareSource to its workforce management portfolio to provide healthcare organizations with a complete end-to-end staffing solution.
As the global leader in healthcare governance, risk management, and compliance software, symplr has a single mission: to make healthcare GRC simpler, resulting in improved efficiency, better outcomes, and safer patients. symplr customers depend on our provider data management, workforce management, contract and spend management, access management and compliance, quality, safety solutions to drive positive outcomes and to protect their patients and staff. More information is available at www.symplr.com.
About Clearlake Capital
Clearlake Capital Group, L.P. is a leading investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. 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 technology, industrials and consumer. Clearlake currently has approximately $39 billion of assets under management and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.
About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private investment firm with more than $15 billion of capital raised since inception. Charlesbank focuses on management-led buyouts and growth capital financings, and also engages in opportunistic credit and technology investments. The firm seeks to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.
For symplr / Clearlake:
Lambert & Co.
1 Transaction closing subject to customary regulatory approvals.