Clearlake Capital-Backed nThrive Completes Acquisition of TransUnion's Healthcare Business

Rhea-AI Summary

nThrive has successfully acquired TransUnion Healthcare, bolstered by Clearlake Capital. This acquisition combines nThrive's revenue cycle management solutions with TransUnion's healthcare data analytics, creating a comprehensive offering for healthcare organizations. The unified platform aims to enhance patient access, improve financial outcomes, and optimize care for payors by utilizing Social Determinants of Health data. The partnership is projected to drive significant growth and streamline healthcare operations across North America.

Positive

• Combining nThrive's RCM solutions with TransUnion's data analytics enhances service offerings.
• The acquisition positions the new entity for accelerated organic growth in the healthcare sector.
• Integration of Social Determinants of Health data allows for earlier interventions by care teams.

Negative

• None.

SANTA MONICA, Calif. and ALPHARETTA, Ga., Dec. 17, 2021 /PRNewswire/ -- nThrive, Inc. ("nThrive"), a healthcare revenue cycle management ("RCM") software-as-a-service ("SaaS") platform provider, backed by Clearlake Capital Group, L.P. (together with certain affiliates, "Clearlake"), today announced it has completed the acquisition of TransUnion Healthcare, Inc., the healthcare data and analytics business of TransUnion (NYSE: TRU). The unified business will offer healthcare organizations one of the most complete end-to-end RCM technology solutions available, streamlining patient access for better patient and financial outcomes, and empowering customers with increased predictability and confidence in their financial performance.

For acute and ambulatory providers, combining TransUnion Healthcare's front-end capabilities with nThrive's front-end workflow and complementary solutions creates a Patient Access powerhouse, improving the patient experience with simpler, more accurate check-in solutions. Additionally, combining TransUnion's Social Determinants of Health data and Insurance Discovery capabilities with nThrive's Claims and Contract Management solutions creates a highly compelling offering for payors. Payors will be able to use socioeconomic data to identify members at risk of needing more costly care, allowing care teams to intervene earlier. Insurance discovery tools help payors coordinate benefits coverage across a larger base of active insurers, reducing medical costs incurred by clients and increasing access to care for members. The full portfolio, which includes nThrive's already strong middle-office and back-office cloud-based software solutions, will drive accelerated and efficient financial recovery for healthcare customers that results from implementing one of the most comprehensive end-to-end RCM technology and software platforms available.

"By offering our integrated solutions under one brand umbrella, we can provide healthcare organizations with a more predictable and accurate view of their financial performance while meaningfully improving the patient experience," said Hemant Goel, CEO of nThrive. "We're eager to get to work as a united team and leverage our joint solutions to add even more value to our customers."

"We are excited about the combination of these technology businesses and the increased value proposition now offered to support healthcare organizations," said Behdad Eghbali, Co-Founder and Managing Partner, and Paul Huber, Principal, of Clearlake. "We are thrilled to partner with both nThrive's colleagues and TransUnion Healthcare's talented associates to leverage Clearlake's O.P.S.® framework and build a combined company that is well-positioned to accelerate organic growth and capitalize on further industry consolidation."

Barclays, Deutsche Bank, Evercore, and William Blair acted as financial advisors to Clearlake and nThrive. Debt financing supporting the transaction was provided by J.P. Morgan, Deutsche Bank, CBAM Partners, Golub, Security Benefit Corporation, BMO Capital Markets, Barclays, Credit Suisse, Jefferies, Antares Capital, BNP Paribas, UBS, Oaktree Capital Management, Audax, Cliffwater, Neuberger Berman, and Stone Point. Sidley Austin LLP served as legal counsel to Clearlake and nThrive.

About nThrive
nThrive provides healthcare revenue cycle management SaaS solutions, 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. nThrive's end-to-end software platform helps healthcare organizations increase revenue, reduce costs, expand cash collections, and ensure regulatory compliance across the entire revenue cycle continuum. For more information, please visit https://www.nthrive.com/.

About Clearlake
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with management teams by providing patient, long-term capital to businesses that can benefit from Clearlake's operational improvement approach, O.P.S.^® The firm's core target sectors are technology, industrials, and consumer. Clearlake currently has over $55 billion of assets under management and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.

About TransUnion Healthcare
TransUnion Healthcare, Inc., an nThrive company, makes trust possible by creating simplicity and transparency throughout the healthcare ecosystem to improve health and financial outcomes. TransUnion Healthcare helps over 1,850 hospitals and 650,000 physicians collectively recover more than $1.2 billion annually in revenue. TransUnion Healthcare's Revenue Protection® solutions leverage comprehensive data, accurate insights and industry expertise to engage patients early, ensure earned revenue gets paid and optimize payment strategies. For more information, please visit https://www.transunion.com/industry/healthcare

Media Contact:

For nThrive:
Audra Murphy
nThrive
(717) 476-4864
amurphy@nthrive.com

For Clearlake:
Jennifer Hurson, Lambert & Co.
845-507-0571
jhurson@lambert.com 

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SOURCE nThrive

FAQ

What is the significance of nThrive's acquisition of TransUnion Healthcare?

The acquisition creates a comprehensive healthcare revenue cycle management platform that improves patient access and financial outcomes.

When was TransUnion Healthcare acquired by nThrive?

The acquisition was completed on December 17, 2021.

How will the acquisition affect TransUnion's stock (TRU)?

The acquisition may enhance TransUnion's position in the healthcare sector, potentially impacting its stock performance positively.

What technology solutions will the combined company offer after the acquisition?

The new entity will provide a complete end-to-end revenue cycle management technology solution.

Who backed nThrive's acquisition of TransUnion Healthcare?

The acquisition was backed by Clearlake Capital Group.