December 6, 2021 01:20 AM | Covington Associates
October 13, 2021 (Boston, MA) – Covington Associates, a leading middle market investment bank announced its role as exclusive financial advisor to Halo Health, a provider of clinical communications and collaboration SaaS solutions, in the sale of its business to symplr®, a leader in enterprise healthcare operations including governance, risk management, and compliance (“GRC”) SaaS solutions, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and Charlesbank Capital Partners (together with its affiliates, “Charlesbank”). Terms of the transaction were not disclosed.
The acquisition of Halo Health strengthens symplr’s growing software portfolio that drives efficiencies in healthcare operations and better patient outcomes. Halo Health’s modern approach to digital communication facilitates the rapid exchange of information, streamlines workflows, and improves patient safety.
“We are honored to welcome Halo Health to the symplr team and look forward to working together to advance our mission to provide healthcare organizations with the tools and resources they need to optimize operations,” said BJ Schaknowski, CEO of symplr.
Founded by clinicians, for clinicians, Halo Health helps healthcare organizations standardize and streamline clinical communication and workflows, consolidate technology, and connect their clinical community. The Halo clinical communications and collaboration SaaS platform is a cost-effective, cloud-based system that unifies all communication channels (e.g., secure messaging, video, voice, alerts) and enables role-based collaboration, ensuring the right message gets to the right person, role, or team at the right time.
Halo Health also bolsters symplr’s expanding portfolio of workforce and talent management software solutions through the addition of on-call scheduling. On-call scheduling provides easy management of schedules and on-call status changes in real-time and automates role-based communication. The acquisition of Halo Health marks another important milestone for symplr, demonstrating its commitment to meeting the needs of healthcare systems nationwide.
The acquisition of Halo Health represents symplr’s 14th acquisition in the past six years, and its ninth under sponsorship from Clearlake since November 2018.
Covington Associates is an investment banking firm offering advisory services in the areas of mergers and acquisitions (“M&A”), capital raising and strategic advisory to middle-market companies across the Healthcare, Business Services, Consumer & Industrial, and Technology verticals. Founded in 1991 and based in Boston, the vision for Covington has been to provide clients with the highest caliber of senior-level attention and to remain an advice driven and results focused organization. Since its inception, Covington Associates has completed over 350 transactions globally for both private and publicly traded companies totaling over $20 billion. Further information can be found at http://www.covingtonassociates.com/overview/.
Halo Health is a strategic technical and clinical partner dedicated to helping customers standardize and streamline clinical communication and workflows, consolidate technology, and connect their clinical community. A scalable solution, Halo’s customers range in size from independent clinics to large health systems, with 20,000 users performing tens of millions of mobile actions annually. Further information can be found at https://halohealth.com/.
symplr’s comprehensive healthcare operations solutions, anchored in governance, risk management, and compliance, enable our enterprise customers to efficiently navigate the unique complexities of integrating critical business operations in healthcare. For over 30 years, our customers have trusted our expertise and depended on our provider data management, workforce and talent management, contract management, spend management, access management, and compliance, quality, safety solutions to help drive better operations for better outcomes. Learn how at www.symplr.com.
Clearlake Capital Group, L.P. is a leading investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials and consumer. Clearlake currently has over $43 billion of assets under management and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private investment firm with more than $15 billion of capital raised since inception. Charlesbank focuses on management-led buyouts and growth capital financings, and also engages in opportunistic credit and technology investments. The firm seeks to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.
HALO HEALTH ACQUIRED BY SYMPLR