Hartford-based API Healthcare sold to Houston company

By Freeman Staff

Feb. 21, 2019

API Healthcare in Hartford is being acquired by Houston-based Symplr.
File photo

HARTFORD — Houston-based Symplr, a software-as-a-service platform for health care organizations, announced in a news release Wednesday afternoon that it has agreed to acquire Hartford-based API Healthcare.

API provides software to manage health care staffing and payroll services.

API Healthcare makes software for health care workforce management. The acquisition allows Symplr to expand its software suite. Whereas Symplr has specialized in software services for governance, risk management and compliance, API Healthcare offers time and attendance, staffing and scheduling, patient classification, HR, payroll and analytics software to more than 375 hospitals and health systems, according to a press release from Santa Monica, California-based private equity group Clearlake Capital Group LP.

Symplr was sold to Clearlake Capital in December 2018.

Symplr and Clearlake Capital purchased API Healthcare from New York-based Veritas Capital. The financial terms of the deal were not disclosed.

In August last year, API moved from the the GE Research Park office in Wauwatosa where a GE Healthcare Digital satellite office was being formed. They moved back to their former location on Innovation Way in Hartford, which still had not been sold.

“This is a transformational acquisition that further expands our health care software footprint and broadens our SaaS offerings by strengthening Symplr’s existing GRC platform and adding new workforce management capabilities,” said Rick Pleczko, CEO, and Tres Thompson, COO and CFO, of Symplr in the release.

API Healthcare was acquired by General Electric in 2014. In July 2018, an affiliate of Veritas Capital acquired API Healthcare and some other GE health care assets for $1.05 billion in cash, according to a press release. That is when they moved back to their former location in Hartford.