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Symplr Acquires Midas Health Analytics Solutions from Conduent
Our comprehensive, cloud-based healthcare operations software solutions, founded on governance, risk management, and compliance, enable our customers to navigate the unique complexities of integrating critical business operations in healthcare
Fremont, CA: Symplr, the leader in enterprise healthcare operations including governance, risk management, and compliance ("GRC") SaaS solutions, acquires Midas Health Analytics Solutions ("Midas") from Conduent Incorporated.
"The Midas acquisition complements symplr's existing GRC portfolio and ensures our customers achieve the clinical, operational, and financial targets required for success in the world of value-based care," said symplr CEO BJ Schaknowski. "This acquisition aligns with our mission to provide solutions that support a more efficient and better-serving healthcare system for today's and tomorrow's patients, providers, payers, administrators, and staff."
Midas Health Analytics Solutions complements symplr's best-in-class SaaS-based GRC portfolio. With its powerful and comprehensive portfolio of patient safety, quality, and advanced analytics software solutions used by healthcare organizations across the continuum of care, Midas strengthens symplr's ability to improve patient safety and outcomes. In addition, Midas' broad capabilities facilitate the incorporation of data from disparate information systems, assisting in proper reporting, documentation, workflow management, and measurement against years of curated benchmark data.
Healthcare organizations use Midas to analyze clinical utilization and provider practice patterns and collect outcome-based quality metrics. These performance results are disseminated to all stakeholders as actionable insights. In addition, Midas assists healthcare operations teams in meeting The Joint Commission's and the Centers for Medicare and Medicaid Services' regulatory reporting requirements (CMS).
"Midas is a natural complement to symplr's existing compliance, quality, and safety solutions," said Charlesbank Managing Director Ryan Carroll. "Now, symplr customers can track and trend quality performance over time, proactively manage and mitigate risk, and make data-driven decisions to create a safe care environment in the face of constant regulatory change."
Midas represents symplr's 15th acquisition in the last six years and its tenth under Clearlake sponsorship since November 2018. Furthermore, in January 2022, Clearlake and symplr announced new and follow-on capital through a Clearlake-managed single asset vehicle fund, giving symplr access to approximately $1.6 billion in equity capital. Clearlake's strategic investment enables symplr to pursue its organic growth initiatives and acquisition strategy with vigor, as evidenced by the Midas acquisition.