What You Should Know:
– symplr, a global leader in enterprise healthcare operations including governance, risk management, and compliance (“GRC”) SaaS solutions announced it has agreed to acquire Midas Health Analytics Solutions (“Midas”) from Conduent Incorporated for $340M. The transaction is expected to close in the first quarter of 2022, subject to the satisfaction of customary closing conditions and regulatory approvals.
– The acquisition highlights symplr’s aggressive M&A strategy and explosive growth in the last few years, acquiring 14 companies over a six-year span. symplr, which is backed by Clearlake and Charlesbank Capital, has increased its valuation tenfold since 2018, taking the company into the multi-billion-dollar realm. symplr’s SaaS solutions – utilized by 3,000+ customers and 5M+ healthcare staff – aim to unify the traditional siloed nature of healthcare operations.
Midas Robust Data Warehouse
Midas Health Analytics Solutions leverage a robust data warehouse with over 100 million claims and 30,000+ indicators as well as comparative data from approximately 800 hospitals. Through its clinical and analytics transformation software solutions, Midas offers strategic guidance, tactical plans, and care management interventions to help healthcare customers improve health outcomes for patients.
“Midas Health Analytics Solutions brings actionable data and insights to help symplr’s health system clients improve patient care and deliver better outcomes,” said BJ Schaknowski, CEO of symplr. “With integrated quality outcomes and machine learning-based advanced analytics, our combined compliance, quality and safety software portfolio can better predict patient specific risks, deliver population health insights, and proactively improve and support business intelligence performance further advancing symplr’s mission of transforming healthcare operations.”