symplr is a global healthcare governance, risk management and compliance SaaS platform, which will now serve as a source for provider data management, workforce management, vendor and visitor management, contract management, spend management, compliance, quality and patient safety. TractManager’s technology and professional services support the business of healthcare through contracting, sourcing and provider management solutions.
Together with TractManager, symplr will enable healthcare organizations to manage provider and supply chain data, including credentials, authorizations, privileges, quality metrics, staffing, time and attendance, contracts and spend across employees and third parties.
“We are thrilled to welcome TractManager to the symplr family,” Rick Pleczko, CEO of symplr, and Tres Thompson, chief operational officer of symplr, said in a joint statement. “TractManager’s cloud solutions bring powerful new capabilities to our customers’ connected GRC enterprise, enabling additional insights to drive improved quality of care and financial performance. Our expanding, end-to-end SaaS platform is a one-of-a-kind single source of truth for GRC-related data for providers, payers, and health systems.”
“Since our sponsorship of the company in 2018, symplr has successfully executed on its growth strategy, delivering increased revenue and significant product innovation,” Behdad Eghbali, co-founder and managing partner at Clearlake, and Prashant Mehrotra, partner of Clearlake Capital, said in a joint statement. “This acquisition enhances symplr’s position as a cloud industry leader, and we are excited to support the management team as they continue to execute on our buy-and-build strategy while driving meaningful value for providers and payers.”
“This combination will enable TractManager and symplr to make an even greater, positive impact on our clients and the healthcare industry as a whole,” Trace Devanny, CEO of TractManager, said.
“We are proud to have supported the talented team at TractManager in building market-leading solutions that enable hospitals, physician practices, and payers to deliver better outcomes for patients,” Gene Gorbach, an investment partner of Arsenal, said. “We are excited about the next chapter of TractManager’s growth in combination with symplr.”
“TractManager’s solutions are highly complementary to symplr’s existing offerings, and we look forward to further investing in these capabilities to provide a best-in-class platform to the combined customer base,” Jordan Milich and Claude Burton of SkyKnight Capital said in a joint statement.
Sidley Austin served as legal advisor to symplr. Harris Williams & Co. served as financial advisor and Morgan, Lewis & Bockius served as legal advisor to TractManager.