Clearlake Capital-backed symplr to acquire API Healthcare
symplr, a leading healthcare governance, risk and compliance (GRC) software-as-a-service (SaaS) platform, backed by Clearlake Capital Group, has agreed to acquire API Healthcare, a leading provider of healthcare human capital management (HCM) software solutions, from Veritas Capital.
The combination of symplr and API will deliver the healthcare industry’s only fully integrated GRC and HCM SaaS platform of scale, offering an end-to-end solution encompassing provider data and workforce management to address the full spectrum of labor regulatory requirements while improving patient outcomes and quality of service.
API offers time and attendance, staffing and scheduling, patient classification, HR, payroll and analytics software to more than 375 hospitals and health systems.
“This is a transformational acquisition that further expands our healthcare software footprint and broadens our SaaS offerings by strengthening symplr’s existing GRC platform and adding new workforce management capabilities,” Rick Pleczko, CEO, and Tres Thompson, COO and CFO, of symplr, said in a statement.
“Together with API, symplr will continue to pursue the mission of providing software solutions that help healthcare organizations meet regulatory compliance requirements and increase operational efficiency,” they added.
Prashant Mehrotra and Paul Huber of Clearlake said that as symplr continues to address the increasing demand for software solutions to drive efficiency in the healthcare industry, “we believe this acquisition will significantly expand symplr’s market opportunity and accelerate its growth trajectory.”