symplr Acquires API Healthcare to Create a Leading Healthcare SaaS Platform

VCBeat (WeChat Official Account: vcbeat) has learned that Symplr recently announced the completion of its acquisition of API Healthcare Corporation (hereinafter referred to as “API”). The acquisition was financially backed by Clearlake Capital Group (hereinafter referred to as “Clearlake”) and SkyKnight Capital (hereinafter referred to as “SkyKnight”). The specific transaction amount was not disclosed.

The integration of Symplr and API Healthcare will create a SaaS platform for the healthcare industry that combines GRC (governance, risk management, and compliance) with HCM (human capital management), providing end-to-end solutions encompassing vendor data management, credentialing, and human resources management, while simultaneously improving patient outcomes and service quality.

API, founded in 1982 and headquartered in Wisconsin, USA, is a software service provider for healthcare organizations. Formerly known as API Software, the company was renamed API Healthcare Corporation in February 2009. API’s Healthcare Capacity Management (HCM) solution helps healthcare organizations effectively manage financial, human capital, and clinical workflows. The software not only tracks employee attendance and manages workflows but also forecasts clinical workloads required to meet patient needs and schedules relevant professionals accordingly. Additionally, the software automates payroll calculations for healthcare organizations.

Symplr, founded in 2006 and headquartered in Texas, is an industry leader in providing GRC software solutions that help healthcare organizations mitigate risks and ensure compliance. Symplr aims to streamline compliance certification and credentialing services for all members of healthcare institutions.

“We are delighted to partner with API, which will further enhance our GRC software,” said Rick Pleczko, CEO of Symplr. “By combining API’s human capital management capabilities with Symplr’s vendor data management and credentialing platform, we will be able to offer healthcare organizations the industry’s only end-to-end solution. We also appreciate the funding from Clearlake and SkyKnight, which enables us to better execute our strategic growth plans.”

“Symplr is shaping the future of healthcare GRC by integrating complementary technology platforms to enable healthcare organizations to operate more efficiently and deliver better patient care,” said Prashant Mehrotra of Clearlake. “Our investment has facilitated a partnership between two leading companies in the healthcare software market. We will continue to support Symplr’s next phase of growth.”

“To complete this acquisition and build a leading SaaS platform in the healthcare sector, Symplr, Clearlake, and SkyKnight have established an exceptional partnership,” said Jordan Milich of SkyKnight. “API Healthcare’s HCM capabilities strengthen Symplr’s leadership position in the healthcare industry. Symplr’s strategic M&A plan aligns with our investment philosophy, and we are pleased to facilitate this transaction.”

Clearlake, founded in 2006, is a private investment firm. The company focuses on investments in the software technology sector, industrials, energy, and consumer markets. Since its inception, Clearlake has managed over $8 billion in institutional capital and completed more than 100 investments.

SkyKnight, established in 2015, is a private equity investment firm. SkyKnight focuses on investments in the healthcare, TMT, transportation and logistics, and business services sectors.

Reference Link:

https://www.symplr.com/solutions

https://www.apihealthcare.com/about

http://www.clearlake.com/news/2019/april16.html

https://www.prnewswire.com/news-releases/symplr-completes-the-acquisition-of-api-healthcare-300822392.html

(Compiled by Liu Na)