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Houston, TX and Boston, MA –
July 12, 2021

Charlesbank to Make a Significant Strategic Investment in Symplr in Partnership with Clearlake

With Backing from Clearlake and Charlesbank, symplr Poised to Expand Leadership in Healthcare GRC and Operations Software

symplr (“symplr” or the “Company”), a global leader in enterprise healthcare operations including governance, risk management, and compliance (“GRC”) SaaS solutions, today announced that Charlesbank Capital Partners, LLC (“Charlesbank”) has signed a definitive agreement to make a significant strategic investment in the Company. Charlesbank, a leading private investment firm managing nearly $13 billion of capital, will join Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) as an institutional investor in symplr. Terms of the transaction were not disclosed.

symplr offers a comprehensive, end-to-end healthcare operations and GRC software and services platform. The Company provides an integrated system of record across provider management, workforce & talent management, contract & spend management, access management, and compliance, quality & safety to the full U.S. healthcare ecosystem. symplr’s mission critical solutions are utilized by over 6,000 customer locations across the nation, helping healthcare organizations deliver improved quality of care and better patient outcomes.

Since Clearlake’s initial acquisition of symplr alongside SkyKnight Capital LP (“SkyKnight”) in 2018, the Company has completed seven acquisitions, demonstrating its commitment to delivering the industry’s deepest healthcare operations and GRC SaaS portfolio. The additional capital from Charlesbank will enable symplr to extend its market-leading position through continued product innovation and acquisitions. symplr will continue to be led by CEO BJ Schaknowski and the current management team.

“We believe Charlesbank’s investment in symplr reflects confidence in our growth plans and ongoing expansion as the most diversified platform of scale in healthcare operations and GRC,” said Mr. Schaknowski. “Our ability to uniquely deliver value to our customers by addressing the full spectrum of healthcare labor and supply chain regulatory requirements, while supporting improved quality of care and patient outcomes, positions us very well for future success. We’re excited to continue our partnership with Clearlake, and welcome Charlesbank’s support in helping us accelerate our organic and buy-and-build strategy.”

“Clearlake, CEO BJ Schaknowski, and the broader management team have done an impressive job building one of the leading enterprise healthcare operations and GRC platforms, and we look forward to partnering with them as the Company continues its journey,” said Ryan Carroll, Charlesbank Managing Director. Added fellow Managing Director Hiren Mankodi, “We have long been attracted to the healthcare IT space and believe symplr, with its strong position and compelling product offerings, presents an ideal opportunity to tap into the exciting growth trends of this sector.”

Behdad Eghbali, Co-Founder and Managing Partner, and Sean Courtney of Clearlake, commented, “Since our initial investment, symplr has enhanced its position as a cloud industry leader within healthcare GRC through accelerated product innovation, expanded solution breadth, and strategic acquisitions. We look forward to continuing to deploy our O.P.S.® framework to further accelerate the Company’s growth. We are excited to work hand-in-hand with the Charlesbank team as partners in symplr as the Company continues to execute on its strategic roadmap.”

Mr. Carroll and Mr. Mankodi, along with Pedro Vaz, also a Managing Director at Charlesbank, will join the Board of symplr upon closing of the transaction. William Blair acted as financial advisor to Clearlake and SkyKnight, Evercore and Goldman Sachs acted as financial advisors to symplr, with Harris Williams, Leerink, RBC, and TripleTree acting as financial advisors to Charlesbank as part of the transaction. Sidley Austin LLP provided legal counsel for symplr, with Ropes and Gray LLP representing Charlesbank.