symplr Completes Acquisition of TractManager

symplr Completes Acquisition of TractManager

The acquisition of TractManager represents symplr's tenth successful acquisition in the past six years and its fifth under sponsorship from Clearlake and SkyKnight since November 2018.

Fremont, CA: symplr, leading global healthcare governance, risk management, and compliance software-as-a-service platform, backed by Clearlake Capital Group, L.P., and SkyKnight Capital, has completed its acquisition of TractManager from Arsenal Capital Partners. The acquisition further strengthens symplr as a global healthcare GRC leader by adding TractManager's industry-leading contract management, spend management, and provider data management SaaS solutions. Terms of the transaction were not disclosed.

The combination of symplr and TractManager expands the healthcare industry's leading end-to-end GRC platform of scale by bolstering symplr's existing provider data management software while adding complementary contract management and spend management software solutions to the portfolio. symplr's SaaS platform will now offer an end-to-end solution encompassing provider data management, workforce management, contract management, spend management, vendor and visitor management, compliance, quality, and safety, addressing the full spectrum of healthcare regulatory and operating requirements while also improving patient outcomes and quality of service.

"TractManager's journey has been similar to ours," said BJ Schaknowski, CEO of symplr. "They've assembled and integrated a best-in-class portfolio that reinforces portions of our existing platform and extends us into areas that are critical for our customers' operations. Our combined GRC SaaS solutions will enable us to deliver even more value to our customers."

Growth through acquisition, coupled with organic growth and product innovation, is an integral part of symplr's business strategy to deliver the industry's leading healthcare GRC SaaS platform.

"We are excited to join the symplr organization. Our combined scale, workforce, and product portfolio positions us to bend the cost curve while increasing enterprise-wide contracting efficiency, compliance, and data transparency," said Trace Devanny, CEO of TractManager.