symplr and Cactus Software Merge To Form Leader In Healthcare Provider Credentialing Software
symplr Now Offers Most Comprehensive SaaS Solution for Provider Management With More Than 3,500 Healthcare Facility Customers
symplr®, a leading provider of Software as a Service (SaaS) based healthcare compliance and credentialing solutions, today announced a merger with Cactus Software, a leader in the development and support of provider management software for hospitals, managed care organizations, CVOs, and physician groups. The combined company is now the clear market leader in provider management software with the largest customer base, highest revenue and most comprehensive product and service offering.
Combined, the symplr and Cactus product portfolios create the next generation provider management platform and the only platform delivering automation for the entire provider management lifecycle: credentialing, privileging, payor enrollment, event reporting, professional practice reporting, peer review and analytics.
“Cactus Software has been at the helm of the provider credentialing market for more than 30 years, and we are excited to combine our product and customer portfolios with this highly regarded brand,” said Rick Pleczko, President and CEO of symplr. “We are proud to now say that our combined company offers a solution unparalleled by any other vendor in the market.”
With the addition of Cactus, symplr now delivers software solutions to over 3,500 healthcare organizations, enabling these organizations to manage the complete provider management lifecycle and helping to mitigate risk, increase patient safety and improve quality of care.
“Cactus and symplr are both client-focused organizations that create software and services solutions driven by the needs of our customers,” said Wayne Auer, President and CEO of Cactus Software. “We are excited to join forces with symplr to offer our clients the next generation centralized provider management platform that simply and effectively takes a healthcare organization from start to finish in their provider management workflow.”
symplr is a portfolio company of The CapStreet Group and Pamlico Capital. Healthcare Growth Partners served as financial advisor to symplr, CapStreet and Pamlico. Alpine Healthcare Advisors served as financial advisor to Cactus Software.
Neil Kallmeyer, Managing Partner at The CapStreet Group, stated, “The completion of the Cactus and symplr merger represents symplr’s fourth transaction in less than two years. We continue to pursue acquisition opportunities to further expand symplr’s product offerings, solidifying the company's position as the leading compliance and credentialing company in the healthcare industry.”
Art Roselle, Partner at Pamlico Capital, added, “We’re very excited about the momentum symplr has shown since our investment in November 2015. Their combination of product innovation and acquisition integration has driven outstanding growth in recent years. We look forward to working with the symplr team to help further fuel their growth in the future.”
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: communications, healthcare, services and software. The firm, based in Charlotte, NC, has assets under management of over $3.5 billion. For additional information, please visit www.pamlicocapital.com.