Expansion via Acquisitions, Diversification of Service Offerings, and Operational Improvements Led to a Successful Exit
symplr provides a SaaS solution to help healthcare organizations navigate the complexities associated with governance, risk, and compliance (“GRC”). It provides a complete suite of provider management, credentialing management, and payor enrollment solutions and competes against a fragmented set of competitors. In partnership with leadership, Capstreet invested in expanding management talent, augmenting systems, and executing on five acquisitions, ultimately creating a strong leader in healthcare credentialing and compliance.
Path to Value Creation
Capstreet has provided resources and guidance for symplr to realize its potential, with strategies that have included:
- Recruited a top-tier management team including CEO and division leaders
- Achieved significant revenue growth since 2012
- Developed a professional sales organization, adding key talent and CRM
- Implemented a new accounting system that provides enhanced controls and scale for acquisitions
- Built a product development organization
- Implemented high-velocity lead generation model
- Completed five strategic add-on acquisitions
- Sustained high organic growth rate through developing new markets, new customers and strategic pricing
- Recapitalized the business in 2015 to further expand solutions and market leadership
- Created a market leader in healthcare compliance software
This case study is included for informational purposes and should not be construed as a recommendation of any particular investment. A complete list of Capstreet’s current and prior investments is available upon request. It should not be assumed that investments made by the Fund will be comparable in quality or performance. Capstreet’s investment strategy involves substantial risks and uncertainties including the potential loss of all or a substantial portion of invested capital. There is no guarantee that Capstreet will successfully execute its investment strategy or achieve its investment objective(s). Information included herein relating to market characterization has been determined by Capstreet as of January 2023. Although Capstreet believes that such determinations are reasonable, they are inherently subjective in nature. Other market participants may make different determinations based on the same underlying data.