Symplr, a leading provider of enterprise healthcare operations software, today announced that it has secured commitment letters for a comprehensive refinancing transaction to strengthen the company's capital structure, enhance liquidity, and support the continued execution of its long-term growth strategy. The transaction is expected to close by the end of October. Transaction extends key debt maturities and provides approximately $280 million of new capital.
The transaction will extend the maturity of symplr's first-lien term loan and revolving credit facility to December 2030 and the maturity of its second-lien term loans to June 2031. The refinancing will provide approximately $280 million of new capital, including a substantial new investment from symplr's sponsors, Clearlake Capital Group and Charlesbank Capital Partners.
The extended maturities and new capital will enhance symplr's liquidity, reduce near-term cash interest requirements and provide the company with greater financial flexibility. Together, the new capital and extended maturity profile will give symplr additional time and resources to execute its strategy, invest in the business and continue delivering value for its customers.
"This transaction is an important step forward for symplr and positions us well for the future," said Venkat Kavarthapu, Chief Executive Officer of symplr. "By extending our debt maturities and bringing substantial new capital into the business, we are creating greater financial flexibility and additional runway to execute our strategy. The continued investment from Clearlake and Charlesbank, together with the broad support of our lenders, reflects confidence in symplr, our team and the opportunity ahead."
Following completion of the transaction, symplr will remain focused on serving its customers, advancing its healthcare operations platform, and executing against its strategic priorities.
About symplr
symplr is a leader in enterprise healthcare operations software and services with a first-of-its-kind operations platform. Trusted in 9 of 10 U.S. hospitals and 400+ U.S. health plans, symplr optimizes operations and maximizes care powered by our cloud-based workforce, quality, provider data management, and spend solutions. Gain efficiency, reduce complexity, and improve outcomes where it matters most.
