symplr Purchases GreenLight Medical, Leading Provider of Healthcare Supply Chain Management Software
Acquisition creates a comprehensive cloud-based software platform for value-based purchasing decision support, enabling healthcare organizations to make timely and data-driven decisions
NASHVILLE, Tenn. and HOUSTON, March 10, 2022 /PRNewswire/ -- symplr®, the leader in enterprise healthcare operations, backed by Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake") and Charlesbank Capital Partners (together with its affiliates, "Charlesbank"), today announced that it has entered into an agreement to purchase GreenLight Medical, Inc. ("GreenLight Medical"), a provider of healthcare supply chain management software.
"GreenLight Medical is a natural complement to our healthcare operations portfolio. The combination of symplr's Spend Management offering and GreenLight's software platform will enable financial leaders across health systems to make more informed spending decisions," said BJ Schaknowski, CEO of symplr. "Healthcare systems today are seeking integrated and connected enterprise solutions. Our vision for symplr Spend Management is to deliver streamlined supply chain decision support, making it easier for leaders to make informed, timely, value-based, and defensible purchase decisions."
GreenLight Medical's cloud-based software platform is the first solution that provides healthcare organizations with quality and value-based data for evaluating, purchasing, and deploying new medical technology, streamlining collaborative and compliant purchasing decisions. Together, symplr and GreenLight Medical will offer one of the industry's most comprehensive spend management and value analysis SaaS solutions, enhanced by symplr's robust data warehouse with over 20 years of capital market intelligence and symplr's Hayes clinical evidence software solution. By connecting these solutions into one comprehensive view, the consolidated symplr platform will dramatically improve spend management, as well as critical financial and clinical outcomes.
"I built this company with the mission of greenlighting actual medical technology into physician and hospital leaders' hands," said Austin Dirks, CEO and Founder of GreenLight Medical. "The opportunity with symplr will not only preserve this mission, but accelerate it, driving end-to-end healthcare operations to the next level."
"The acquisition of GreenLight aligns with symplr's mission to leverage technology to improve healthcare operations," said Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake. "symplr continues to deliver on its commitment to offer a comprehensive software solution that addresses the full spectrum of a health system's operational requirements, while also reducing costs and mitigating risk."
"symplr has a bold vision to bring together market-leading solutions to streamline healthcare operations," said Ryan Carroll, Managing Director of Charlesbank. "We're excited to continue supporting symplr in partnership with Clearlake to help achieve this goal and transform healthcare operations."
The acquisition of GreenLight Medical represents symplr's 16th acquisition in the past six years, and its 11th under sponsorship from Clearlake since November 2018. Additionally, in January 2022, Clearlake and symplr announced new and follow-on capital via a Clearlake-managed single asset vehicle fund, providing symplr with access to approximately $1.6 billion in equity capital. Clearlake's strategic investment enables symplr to continue aggressively pursuing its organic growth initiatives and acquisition strategy.
About symplr
symplr is the leader in enterprise healthcare operations, offering governance, risk and compliance software and services. For more than 30 years and with deployments in 9 out of every 10 U.S. hospitals, symplr has been committed to improving health care operations through its cloud-based solutions, driving better operations for better outcomes. The symplr suite of products includes offerings that support the management of healthcare operations: from the people that work across the care environment to provider data and directories, the supply chain and to compliance, quality, and safety management. symplr solutions improve the efficiency and efficacy of healthcare operations, enabling caregivers to quickly handle administrative tasks so they have more time to do what they do best — provide high-quality patient care. Learn how at www.symplr.com.
About GreenLight Medical
Based in Nashville, TN, GreenLight is a cloud platform used for the introduction and evaluation of new medical technology by hospitals, ambulatory surgery centers, and physicians in collaboration with medical device companies. The software platform accelerates healthcare provider decision-making by ensuring that hospital leadership make informed decisions with their physicians on technology adoption and use. With a team of engineers, clinical researchers, and supply chain process experts, GreenLight is a proud partner of hundreds of hospitals nationwide and many of the leading medical device companies in America. Among other accolades, GreenLight has been recognized as the Healthcare Startup of the Year, the Small Business of the Year, Nashville Best in Business Winner, and the Tech Company of the Year finalist. Austin Dirks, CEO and Founder of the company, has been recognized by the Nashville Tech Council as the Emerging Leader of the Year for 2021, and Nashville Business Journal's 40 under 40. For more information, visit: https://www.greenlightmedical.com/
About Clearlake Capital
Clearlake Capital Group, L.P. is an 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 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 over $60 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.
Media Contacts
For symplr:
Jenn Riggle
Matter Health for symplr
757-615-6099
[email protected]
For Clearlake:
Jennifer Hurson
Lambert & Co.
845-507-0571
[email protected]
For Charlesbank:
Maura Turner
617-619-5457
[email protected]
SOURCE symplr; Clearlake Capital Group
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