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Pamlico Capital Announces Recapitalization of symplr

Nov 23, 2015

Pamlico Capital announced today that symplr, a leading provider of Software as a Service (SaaS) based healthcare compliance and credentialing solutions, has completed a recapitalization led by Pamlico and existing investors, including The CapStreet Group. Terms of the transaction were not disclosed.

symplr is a leading provider of SaaS-based solutions that address the compliance and credentialing needs of healthcare organizations including: provider credentialing, privileging, quality management, incident management and peer review; vendor, contractor and staff credentialing; and payor enrollment services. symplr’s broad platform provides a ‘single pane of glass’ for healthcare organizations to manage the compliance and credentialing requirements of their provider, staff and contractor communities.

“The management team’s passion for building the leading healthcare compliance and credentialing platform, their strong corporate culture and their commitment to setting and achieving high growth goals impressed us.” said Art Roselle, Partner at Pamlico Capital, “We are very excited to partner with management, CapStreet and the prior investors to continue the Company’s track record of growth through both organic and acquisitive initiatives.” symplr will represent the seventh investment in Pamlico Capital III, a fund with $650 million of committed capital.

“We’ve achieved significant growth by delivering simple, effective and high-value compliance and credentialing solutions to our customers,” said Rick Pleczko, President & CEO of symplr. “Pamlico’s investment not only validates our success to date but provides us with additional capital to expand our solution portfolio, provide even more value to our customers and further establish our leadership position.”

“We’re extremely pleased to partner with Pamlico” said Neil Kallmeyer, Managing Partner at CapStreet. “symplr is a great asset in our portfolio, and we look forward to working with Pamlico and the symplr management team to build the clear brand leader in healthcare compliance.”

Pamlico was advised by King & Spalding LLP (legal counsel). symplr was advised by TripleTree, LLC (financial advisor) and Willkie Farr & Gallagher LLP (legal counsel).

Media Contact:

For symplr: Carrie Ward, cward@symplr.com, 832-407-5347

For Pamlico: Gillian Rhew, gillian.rhew@pamlicocapital.com, 704-414-7150

For CapStreet: Courtenay Siegfried, courtenaysiegfried@20kgroup.com, 713-224-1877

  • About Pamlico
  • About symplr

About Pamlico

Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: business & technology services, communications, and healthcare. The firm, based in Charlotte, NC, has assets under management of approximately $4 billion. For additional information, please visit www.pamlicocapital.com.