SYMPLR CLOSES acquisition of Healthcaresource
Comprehensive Workforce Management Solution by symplr Makes it Easy for Hospitals and Health Systems to Hire, Retain, Grow and Manage the Right Talent
SANTA MONICA, CA and HOUSTON, TX – June 21, 2021 – symplrÒ, 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 SkyKnight Capital (together with its affiliates, “SkyKnight”), announced today that it has completed its acquisition of HealthcareSource HR Inc. (“HealthcareSource”). HealthcareSource’s industry-leading talent management solutions and services broaden symplr’s existing workforce management solutions portfolio. Terms of the transaction were not disclosed.
symplr now offers customers industry-leading solutions to improve hiring speed, staff engagement, team skillsets, and employee retention, while reducing premium labor spend. Through integration with symplr’s existing workforce management offering and deep credentialing capabilities, the combined talent management solution will provide healthcare organizations a more cost-effective and process-efficient solution to hire, keep, optimize, and grow their workforces.
symplr’s enterprise platform will now serve as the single source of truth for provider data management, workforce and talent management, vendor and visitor management, contract management, spend management, and compliance, quality, and patient safety. The symplr platform addresses the full spectrum of healthcare labor and supply chain regulatory requirements while supporting the delivery of improved quality of care and patient outcomes.
Growth through strategic acquisitions, coupled with strong organic growth and product innovation, is an integral part of symplr’s strategy to deliver the industry’s deepest enterprise platform for managing healthcare operations. The acquisition of HealthcareSource represents symplr’s twelfth acquisition in the past six years, and its seventh under sponsorship from Clearlake and SkyKnight since November 2018.
“I’m excited to welcome the HealthcareSource team to the symplr family. Adding their industry-leading talent management solutions to our portfolio will further expand our ability to deliver exceptional value for our customers,” said BJ Schaknowski, CEO of symplr. “With the investment and support from Clearlake and SkyKnight, we are well-positioned to continue executing on our growth strategy while helping providers optimize their workforces to achieve their desired outcomes.”
“For over two decades, the HealthcareSource mission has been to help healthcare organizations hire, keep, and grow quality talent to more effectively and efficiently deliver quality care for their patients and residents,” said Michael Grossi, CEO of HealthcareSource. “With this acquisition, we can better deliver on this promise through the expanded breadth and depth of the symplr solution portfolio, driving even more impactful results for our customers.”
“We are excited to support symplr in this strategic transaction that extends its leadership in healthcare workforce management solutions and adds new capabilities to support employee recruitment, retention and development in acute, post-acute and contingent staffing organizations,” said Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake. “This acquisition is a continuation of symplr’s buy-and-build strategy and an exciting step toward delivering an even more comprehensive end-to-end healthcare GRC SaaS platform.”
As the global leader in enterprise healthcare operations including governance, risk management, and compliance software and services, 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 SkyKnight Capital
Founded in 2015, SkyKnight Capital manages over $2 billion in private equity capital on behalf of leading institutional family offices, foundations, endowments, and pensions. SkyKnight makes long-term investments into high quality businesses in acyclical growth sectors alongside exceptional management teams. More information is available at www.skyknightcapital.com.
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