Mid-market private equity firm Charlesbank Capital Partners has agreed to pick up a significant strategic investment in healthcare software company Symplr as the firm attempts to tap into the “exciting healthcare IT space”. The deal will see Charlesbank join fellow PE house Clearlake Capital Group and SkyKnight as institutional investors.
Symplr provides software for provider management, workforce management, contract and spending management and compliance, quality and safety to US healthcare providers. It serves 6,000 customer locations in the country.
Clearlake bought into the company alongside SkyKnight in 2018. Since then the company has completed seven acquisitions to expand its product portfolio. The firm said the additional capital from Charlesbank would enhance the company’s product innovation and acquisitions.
Hiren Mankodi, managing director at Charlesbank Managing Director, said, “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.”
Charlesbank Capital Partners struck a $3.75bn hard cap close for its tenth fund in February after less than six months in the market. It closed Charlesbank Credit Opportunities Fund II in July last year on its $700m hard cap, sweeping past its $500m target.
On the dealmaking side, the firm together with M/C Partners agreed to sell IT services provider Ensono to KKR in April after “robust” growth during the pandemic last year.
Copyright © 2021 AltAssets
PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.
