Acquisition creates a comprehensive cloud-based software platform for value-based purchasing decision support, enabling healthcare organizations to make timely and data-driven decisions
symplr®, the leader in enterprise healthcare operations, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and Charlesbank Capital Partners (together with its affiliates, “Charlesbank”), has announced that it has entered into an agreement to purchase GreenLight Medical, Inc. (“GreenLight Medical”), a provider of healthcare supply chain management software.
“GreenLight Medical is a natural complement to our healthcare operations portfolio. The combination of symplr’s Spend Management offering and GreenLight’s software platform will enable financial leaders across health systems to make more informed spending decisions,” said BJ Schaknowski, CEO of symplr. “Healthcare systems today are seeking integrated and connected enterprise solutions. Our vision for symplr Spend Management is to deliver streamlined supply chain decision support, making it easier for leaders to make informed, timely, value-based, and defensible purchase decisions.”
GreenLight Medical’s cloud-based software platform is the first solution that provides healthcare organizations with quality and value-based data for evaluating, purchasing, and deploying new medical technology, streamlining collaborative and compliant purchasing decisions. Together, symplr and GreenLight Medical will offer one of the industry’s most comprehensive spend management and value analysis SaaS solutions, enhanced by symplr’s robust data warehouse with over 20 years of capital market intelligence and symplr’s Hayes clinical evidence software solution. By connecting these solutions into one comprehensive view, the consolidated symplr platform will dramatically improve spend management, as well as critical financial and clinical outcomes.
“I built this company with the mission of greenlighting actual medical technology into physician and hospital leaders’ hands,” said Austin Dirks, CEO and Founder of GreenLight Medical. “The opportunity with symplr will not only preserve this mission, but accelerate it, driving end-to-end healthcare operations to the next level.”
“The acquisition of GreenLight aligns with symplr’s mission to leverage technology to improve healthcare operations,” said Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake. “symplr continues to deliver on its commitment to offer a comprehensive software solution that addresses the full spectrum of a health system’s operational requirements, while also reducing costs and mitigating risk.”
“symplr has a bold vision to bring together market-leading solutions to streamline healthcare operations,” said Ryan Carroll, Managing Director of Charlesbank. “We’re excited to continue supporting symplr in partnership with Clearlake to help achieve this goal and transform healthcare operations.”
The acquisition of GreenLight Medical represents symplr’s 16th acquisition in the past six years, and its 11th under sponsorship from Clearlake since November 2018. Additionally, in January 2022, Clearlake and symplr announced new and follow-on capital via a Clearlake-managed single asset vehicle fund, providing symplr with access to approximately $1.6 billion in equity capital. Clearlake’s strategic investment enables symplr to continue aggressively pursuing its organic growth initiatives and acquisition strategy.