symplr’s Acquisition Of Phynd Technologies


Sidley Austin LLP advised symplr on the deal.

symplr, a leading global healthcare governance, risk management, and compliance (“GRC”) software-as-a-service (“SaaS”) platform, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and SkyKnight Capital (together with its affiliates, “SkyKnight”), announced that it has signed a definitive agreement to acquire Phynd Technologies (“Phynd” or the “Company”). The acquisition further strengthens symplr as a global healthcare GRC leader by adding Phynd’s leading provider directory management SaaS platform. Terms of the transaction were not disclosed.

The combination of symplr and Phynd expands the healthcare industry’s leading end-to-end GRC platform of scale by enhancing symplr’s provider data management offering to enable management of a provider’s profile, location, clinical expertise, health plan and network participation, and programs. symplr’s provider data management SaaS platform will now offer hospitals, health systems, and health plans an industry-leading pathway for leveraging symplr’s credentialing and privileging data in several patient-facing applications, including provider directory, provider search, digital front door, and provider scheduling.

Growth through acquisition, coupled with organic expansion and product innovation, is an integral part of symplr’s business strategy to deliver the industry’s leading healthcare GRC SaaS platform. The acquisition of Phynd represents symplr’s eleventh acquisition in the past six years, and its sixth under sponsorship from Clearlake and SkyKnight since November 2018.

The Sidley deal team included Mehdi Khodadad (Picture),

Mark Castiglia, Ryan Hicks and Patrick Sims.

Involved fees earner: Mark Castiglia – Sidley Austin LLP; Ryan Hicks – Sidley Austin LLP; Mehdi Khodadad – Sidley Austin LLP; Patrick Sims – Sidley Austin LLP;

Law Firms: Sidley Austin LLP;

Clients: symplr;

Avatar

Author: Ambrogio Visconti