FinThrive Announces New Capital Infusion to Drive Growth and Innovation
Deal News | Nov 18, 2024 | Clearlake Capital
FinThrive, a healthcare revenue cycle management software provider and Clearlake Capital portfolio company, has announced the closure of a significant refinancing transaction. This transaction involves raising $155 million in new capital, extending the maturity of their revolving credit facility, and strengthening their financial position by de-levering the balance sheet. The move aims to enhance their liquidity and financial flexibility, enabling further investment in their technology platform and accelerating innovation in the healthcare revenue management space. The capital injection is integral to FinThrive's strategic initiatives, supporting product development and enabling the company to scale its operations for enhanced revenue management in healthcare. Clearlake Capital, alongside Evercore Group and Kirkland & Ellis LLP, plays a pivotal role in this transaction either as investors or advisors. The deal signifies a crucial step toward FinThrive's mission of enhancing healthcare operations by providing comprehensive, intelligent revenue management solutions that leverage AI and machine learning.
Sectors
- Healthcare Technology
- Private Equity
Geography
- United States – FinThrive is based in Plano, TX and Clearlake Capital has multiple offices across the US including in Santa Monica, CA which are central to the transaction.
Industry
- Healthcare Technology – FinThrive operates in the healthcare technology sector, offering SaaS solutions for revenue cycle management, revolutionizing how healthcare organizations manage financial operations.
- Private Equity – Clearlake Capital's involvement as the primary investor and strategy developer places this in the financial investment sector of private equity.
Financials
- $155 million – The amount of new capital raised by FinThrive to support its strategic initiatives and strengthen its financial flexibility.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| FinThrive, Inc. | Target Company | Company | A healthcare revenue cycle management software provider and a portfolio company of Clearlake Capital. |
| Clearlake Capital Group, L.P. | PE Firm | Company | The private equity firm investing in FinThrive, known for its sector-focused approach and operational expertise. |
| Evercore Group, LLC | Financial Advisor | Company | Served as financial advisors to FinThrive in the transaction. |
| Kirkland & Ellis LLP | Legal Advisor | Company | Provided legal advisory services to FinThrive for the transaction. |
| Perella Weinberg Partners LP | Financial Advisor | Company | Advised certain lenders to FinThrive on the transaction. |
| Gibson, Dunn & Crutcher LLP | Legal Advisor | Company | Provided legal advice to FinThrive's lenders. |