Clearlake Capital Completes Acquisition of nThrive’s Technology Division

• New Buy and Build Investment in the Healthcare Revenue Cycle Management Software Leader

Clearlake Capital Group, L.P., announced that it has completed its acquisition of nThrive’s Technology Division, a leading healthcare revenue cycle management software-as-a-service platform, from nThrive Holdings, LP (“nThrive”). Terms of the transaction were not disclosed.

nThrive Technology is a leading healthcare RCM SaaS platform, offering patient access, charge integrity, claims management, contract management, machine learning & robotic process automation, data & analytics and education software solutions to more than 900 hospitals and health systems in North America, including 37 of the 40 largest healthcare providers in the U.S. The Company’s end-to-end software platform helps healthcare organizations increase revenue, reduce costs, expand cash collections and ensure regulatory compliance.

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“We are excited to partner with Clearlake in our next stage of growth as an independent company,” said Sloan Clardy, CEO of nThrive Technology. “Through this partnership, Clearlake will bring fresh capital and perspectives from their experience working with other high-performance SaaS companies. Through both organic and inorganic growth strategies, I believe this partnership will help  position nThrive Technology as a market leader in the revenue cycle technology space, delivering innovation for our healthcare customers and users.”

“We are impressed by nThrive Technology’s unparalleled SaaS platform, and we look forward to supporting Sloan and the management team as we build on the Company’s strong foundation, both organically and through acquisition,” said Behdad Eghbali, Co-Founder and Managing Partner, and Paul Huber, Principal, of Clearlake. “nThrive Technology is an exciting addition to Clearlake’s healthcare IT portfolio, and we continue to view the sector favorably as cloud-based, purpose-built vertical solutions automate provider and payer workflows, driving revenue and lowering spend. We look forward to leveraging our O.P.S.^® approach to support the management team and the Company’s many talented employees in continuing to provide best-in-class healthcare RCM software solutions to the customer base.”

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“Healthcare providers and payers are faced with an increasing amount of stringent and complex regulatory requirements, including the ongoing shift to value-based care, in addition to a challenging operating environment,” said Vikram Abraham, Vice President at Clearlake. “We believe nThrive Technology’s leading software solutions uniquely position the Company to address these market trends and accelerate its growth trajectory.”

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