Symplr Acquires IntelliSoft to Enhance Its GRC SaaS Platform for Healthcare Credentialing and Compliance

VCBeat (WeChat Official Account: vcbeat) has learned from foreign media reports that Symplr has recently completed its acquisition of IntelliSoft, though the financial terms were not disclosed. This marks Symplr’s seventh acquisition in the past six years, backed by Clearlake Capital Group (and its affiliate Clearlake) and SkyKnight Capital Group (and its affiliate SkyKnight).

Headquartered in Nashua, New Hampshire, IntelliSoft is a healthcare software company that provides medical credentialing, provider enrollment, contract management software, and Credentials Verification Organization (CVO) services.

Healthcare organizations must comply with current standards set by various regulatory bodies and accrediting agencies, including the Centers for Medicare & Medicaid Services (CMS), the Council for Affordable Quality Healthcare (CAQH), The Joint Commission, the National Committee for Quality Assurance (NCQA), URAC, and the Accreditation Association for Ambulatory Health Care (AAAHC).

IntelliSoft’s product portfolio includes IntelliCred, IntelliApp, IntelliContract, and IntelliSolution, which are currently utilized by hundreds of hospitals, managed care organizations, accreditation bodies, individual practice associations, and subacute care facilities.

IntelliCred is designed to manage raw source verification and credentialing processes. It provides users with a solution for effectively managing vendor credentialing, data, and raw source verification, offering an easy-to-use, scalable credentialing system. IntelliCred enables the simple and efficient collection, storage, and access of critical data required for maintaining credentials, while minimizing the costs associated with vendor services.

IntelliApp is a comprehensive credentialing application management software. Tracking and managing a large volume of vendor enrollment forms is time-consuming and requires meticulous attention to detail to prevent losses caused by oversights and errors. IntelliApp provides the tools necessary to efficiently manage and streamline the vendor enrollment process.

IntelliContract is a healthcare contract management software designed for managing vendor agreements and general contracts. Today’s healthcare organizations demand transparency in business affairs, prompting enterprise management and operations teams to strive to simplify the complex process of contract credentialing. With IntelliContract, users can continuously track contracts throughout the entire lifecycle, from negotiation to renewal. IntelliContract’s digital operational model is efficient, accurate, and environmentally friendly.

IntelliSolution is IntelliSoft’s latest product, integrating all the functionalities of credentialing, provider enrollment, and document management software, along with a comprehensive suite of CVO services, to efficiently streamline credentialing and provider enrollment processes. IntelliSolution is ideally suited for organizations seeking to fully or partially outsource their credentialing or provider enrollment operations while retaining the ability to manage their own databases through the software.

IntelliCVO provides data management services for tracking and updating supplier credentialing information, offering solutions to clients seeking to outsource their credentialing processes. Through its advanced system, healthcare organizations of any size can obtain a comprehensive service package via IntelliSoft, overcoming challenges associated with initial credentialing, re-credentialing, and primary source verification. IntelliCVO also assists healthcare institutions in managing ongoing credentialing, special privileges, and other related tasks. The software delivers continuous reporting to client organizations, with practitioner data stored within a secure credentialing system.

The aforementioned software and systems constitute the IntelliSoft platform, whose scale and accuracy in automated certification and raw data validation ensure user compliance while streamlining workflows.

IntelliSoft’s vendor credentialing software and the CVO services provided by the National Committee for Quality Assurance (NCQA) have further enhanced Symplr’s platform.

For Symplr, the acquisition of IntelliSoft is a critical step in building its GRC SaaS healthcare platform.

Symplr CEO Rick Pleczko and COO/CFO Tres Thompson jointly stated, “The acquisition of IntelliSoft by Symplr presents significant growth opportunities. The integration of both companies’ technologies and services ensures compliance for healthcare providers and investors while enhancing operational efficiency. We look forward to delivering innovative solutions that meet our customers’ evolving needs.”

Symplr, founded in 2006, is renowned in the industry for its flexible provider credentialing services. The company’s SaaS (Software as a Service) solutions help healthcare organizations streamline administration and mitigate risks, making compliance and credentialing in the healthcare sector more accessible.

Symplr provides enterprises with comprehensive supplier credentialing solutions to manage the personnel and organizations accessing customer facilities, ensuring they are credentialed and comply with customer requirements as well as applicable policies and standards.

SymplrPass is a hardware and software solution under the Symplr platform that streamlines equipment check-in and check-out processes through login stations and a mobile application for equipment administrators and vendors.

Clearlake Capital is a private investment firm founded in 2006. The company focuses on investments in software and technology-enabled services, industrials and energy, and consumer sectors, partnering with world-class management teams to provide businesses with long-term capital and operational improvement methodologies (O.P.S.). Since its inception, Clearlake has managed over $8 billion in assets and participated in more than 100 investment transactions.

SkyKnight Capital is a private equity investment firm established in 2015, boasting an experienced investment team and flexible investment strategies. SkyKnight’s services include family enterprise wealth management and endowment fund management, with a primary focus on investments in the healthcare, TMT, transportation and logistics, and business services sectors. To date, SkyKnight has managed equity stakes ranging from $10 million to over $200 million.

(Compiled by Tang Lulu)