Press Release

Clearlake to Acquire Symplr

November 5, 2018

Palo Alto – November 5, 2018 – Cooley advised Clearlake Capital Group on an agreement to buy Symplr from Pamlico Capital and The CapStreet Group. Partner Mehdi Khodadad led the Cooley team advising Clearlake on the acquisition.

Symplr is a leading healthcare governance, risk and compliance software-as-a-service platform that offers provider management, credential management and payer enrollment services. The acquisition represents one of several healthcare IT investments made by Clearlake this year.

"Healthcare professionals are faced with an increasing amount of stringent and complex compliance requirements with the ongoing shift to value-based care," said Dan Groen, Clearlake principal, alongside Paul Huber, Clearlake vice president, in a news release. "We believe Symplr's leading software solutions uniquely position the company to address these market trends and accelerate its growth trajectory."

A leading private investment firm, Clearlake has managed more than $8 billion of institutional capital since its inception in 2006. Its core target sectors are software and technology-enabled services, industrials and energy and consumer.

Cooley has a longstanding relationship with Clearlake. In October, Cooley advised Clearlake and its subsidiary Perforce Software on separate acquisitions involving Perfecto Mobile and Meek’s Lumber Company.

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