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Overview
Symplr provides enterprise healthcare operations software and services to hospitals to simplify administrative tasks. Its Symplr Operations Platform unifies multiple operations tools via shared services and APIs to automate and connect workflows across facilities. Core products include Symplr Access for secure facility access and vendor check-ins with high compliance, and Symplr CVO for provider credentialing and payer enrollment, reducing admin workload. The platform aims to reduce administrative burden and improve clinical and financial outcomes by offering an integrated, compliant workflow solution across a large network of hospitals.
About symplr
Industries
Enterprise Software
Healthcare
Company Size
1,001-5,000
Company Stage
Growth Equity (Non-Venture Capital)
Total Funding
$206M
Headquarters
Houston, Texas
Founded
2006
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Simplify's Take
What believers are saying
- February 2026 ViVE launches added AI scheduling, contract redlining, and vendor access tools.
- March 18, 2026 ShiftMed integrated with Smart Square, expanding real-time clinician fulfillment.
- June 29, 2026 CFO Andrew Langford and April 13 CEO Venkat Kavarthapu strengthened execution.
What critics are saying
- September 2026 refinancing confirms distress: $175 million preferred equity and $103.5 million debt.
- First-lien debt matures in 2027; nonparticipants get subordinated, crushing recovery value.
- AI-driven workflow commoditization threatens symplr's software moat and recapitalization fails without lender support.
What makes symplr unique
- Symplr sits in nine of 10 U.S. hospitals, embedding itself deeply into operations.
- Its Operations Platform unifies workforce, access, contracts, and provider data across workflows.
- Smart Square won Best in KLAS in 2025 and 2026 for scheduling.
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Funding
Total Funding
$206M
Above
Industry Average
Funded Over
2 Rounds
Insight PartnersBenefits
Flexible Work Hours
Remote Work Options
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 0%2 year growth
↑ 3%Clearlake and Charlesbank to inject $175m into distressed Symplr. * September 22, 2026 * - 10:34 am Private equity firms Clearlake Capital Group and Charlesbank Capital Partners have agreed to provide around $175m of preferred equity to healthcare software provider Symplr as part of a restructuring designed to shore up the company's finances and push out debt maturities, according to a report by Bloomberg. The report cites unnamed people familiar with the matter as revealing that the sponsors have reached an agreement with several groups of creditors on the proposed recapitalisation and are seeking wider lender support. Under the terms being discussed, Clearlake and Charlesbank will defer interest payments on newly issued junior-ranking debt, helping Symplr preserve cash as it works through its financial challenges. Separately, second-lien lenders are expected to provide $103.5m of additional financing through a first-out second-lien loan. The facility would rank ahead of existing second-lien debt and would be available to other junior-ranking creditors. The restructuring follows months of negotiations between Symplr and its lenders as the company's debt has traded at distressed levels amid broader concerns about the impact of artificial intelligence on the software sector. Symplr's debt has faced particular pressure. Its loans were among the largest markdowns recorded by an Ares private credit fund during the first quarter, while Moody's Ratings downgraded Symplr and its debt further into junk territory in July, citing an increased risk of restructuring. As part of the proposed transaction, existing second-lien lenders would receive a 100-basis-point increase in their coupon. The debt would carry a combination of cash interest and payment-in-kind interest, according to people familiar with the terms. Holders of Symplr's first-lien term loan, which matures in 2027, would also receive a 100-basis-point coupon increase in return for extending the maturity by three years. The revised loan documentation would include stronger protections for participating lenders. Creditors that choose not to take part in the proposed exchange would be pushed to the bottom of Symplr's capital structure and lose certain covenant protections. Symplr's approximately $1.2bn first-lien term loan was recently quoted at about 71.4 cents on the dollar, compared with around 78 cents in early March and 86.5 cents at the beginning of January. Its nearly $290m second-lien term loan, due in 2028, was recently quoted at about 70 cents. Symplr is held through a continuation vehicle containing the healthcare software company as its sole asset, according to a 2022 company announcement. Representatives for Clearlake, Charlesbank and Ares Capital reportedly declined to comment, while Symplr reportedly did not respond to requests for comment.
Symplr Software's private equity backers, Clearlake Capital Group and Charlesbank Capital Partners, have agreed to inject approximately $175 million of preferred equity into the distressed healthcare software provider. The restructuring deal includes multiple debt securities and extended repayment timelines. Second-lien lenders, including Ares Capital Corp., will provide $103.5 million in fresh funding structured as a first-out second-lien loan. Clearlake and Charlesbank have agreed to defer interest payments on new junior-ranking debt to conserve cash. The deal follows months of negotiations after concerns about artificial intelligence's impact hit software companies earlier this year. Symplr's roughly $1.2 billion first-lien term loan recently traded at 71.4 cents on the dollar, down from 86.5 cents in January. Existing lenders will receive 100-basis-point coupon increases in exchange for extending maturities.
symplr, a healthcare operations software provider backed by Clearlake Capital Group and Charlesbank Capital Partners, has appointed Andrew Langford as chief financial officer. Langford brings extensive experience in finance leadership, strategic transformation and mergers and acquisitions. Previously, Langford served as executive vice president at Zelis, overseeing financial strategy, treasury and operational planning. He also spent nearly a decade at Global Payments in senior finance roles, with significant experience in investor relations and growth strategy across the Americas and Europe. As CFO, Langford will oversee financial planning, accounting, treasury, investor relations and M&A functions. He succeeds Tom Fink, who served as interim CFO since early 2026. The appointment comes as symplr scales its investment in AI-powered innovation for healthcare operations.
symplr appoints Venkat Kavarthapu as CEO to drive ai-powered healthcare innovation. * April 14, 2026 symplr, one of the top companies providing enterprise software for healthcare operations, named Venkat Kavarthapu as Chief Executive Officer with immediate effect. This comes after Chris Colpitts, acting CEO since November 2025, stepped down. Chris Colpitts will continue to work as Executive Chairman of the Board, making sure there is a smooth transition of leadership roles. Venkat Kavarthapu possesses an extensive professional background exceeding 25 years in the healthcare technology industry and is known for his ability to grow businesses. He was instrumental in expanding Edifecs, thanks to his vast experience in growing software companies, assembling elite teams, and ensuring operational efficiency. Earlier he worked as CEO of Edifecs Inc., a company involved in healthcare operations and interoperability solutions. In the capacity of the CEO, he assisted in expanding the health data management service that Edifecs provides throughout the United States. Mr. Kavarthapu led the acquisition of Edifecs by Cotiviti in 2025. Strategy for AI and future expansion plans. As CEO of symplr, Mr. Kavarthapu will continue streamlining healthcare operations. He will also expand AI technology adoption among customers. "We believe Venkat brings a strong combination of enterprise software knowledge and operational leadership, along with a deep understanding of the challenges healthcare organizations face today," said Chris Colpitts, symplr Executive Chairman of the Board. "His track record of driving growth and scaling platforms positions him to accelerate execution and build on symplr's momentum." "Venkat's success in scaling healthcare technology platforms and delivering practical, data-driven innovation makes him the right leader to drive symplr's new phase of growth through next-generation, AI-powered enterprise software," said Prashant Mehrotra, Partner and Managing Director at Clearlake, and Ryan Carroll, Managing Director at Charlesbank. "As AI continues to reshape healthcare operations, symplr is poised to help organizations translate that potential into real efficiency gains and financial outcomes." "I see a significant opportunity to harness AI to help healthcare organizations reduce operational complexity and improve the quality of care," said Venkat Kavarthapu, symplr CEO. "symplr's platform and deep customer relationships give us a strong foundation to deliver on that - and I look forward to working with the team to accelerate that vision with payers and providers." For more stories on executive leadership and business innovations, explore its CXO Insiders for the latest updates.
symplr, a healthcare operations software company backed by Clearlake Capital and Charlesbank Capital Partners, has appointed Venkat Kavarthapu as chief executive officer, effective immediately. He succeeds Chris Colpitts, who served as interim CEO since November 2025 and will continue as executive chairman. Kavarthapu brings over 25 years of healthcare technology experience. He previously served as CEO of Edifecs, a healthcare operations and interoperability company, where he expanded its health data management platform before leading its successful acquisition by Cotiviti in 2025. As CEO, Kavarthapu will focus on advancing symplr's mission to streamline healthcare operations and scale AI-powered innovation. symplr's platform is trusted in nine of 10 US hospitals and over 400 US health plans.
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About symplr
Industries
Enterprise Software
Healthcare
Company Size
1,001-5,000
Company Stage
Growth Equity (Non-Venture Capital)
Total Funding
$206M
Headquarters
Houston, Texas
Founded
2006
symplr is Hiring for 45 Jobs on Simplify!
Find jobs on Simplify and start your career today