ModMed Secures Significant Investment from Clearlake Capital to Propel Growth
Deal News | Apr 30, 2025 | Clearlake Capital
Clearlake Capital Group, L.P. has finalized a significant investment in ModMed, a leading provider of AI-driven, specialty-specific healthcare technology. Though financial specifics remain undisclosed, this development is set to accelerate ModMed's growth and innovation. Co-founders Dan Cane and Dr. Michael Sherling emphasized the increasing demand for AI solutions to enhance healthcare workflows. ModMed's track record and partnerships have solidified its leadership in medical software solutions. With Clearlake's backing, ModMed aims to further transform patient-provider experiences. Other investors like Warburg Pincus, Pentland Capital, and Summit Partners have previously supported ModMed. Clearlake's investment promises to leverage its strategic expertise to elevate ModMed's offerings globally, as the firm continues its mission in technology, industrials, and consumer sectors through its O.P.S. framework.
Sectors
- Healthcare Technology
- Private Equity
Geography
- United States – Both ModMed and Clearlake Capital are primarily based in the United States, with ModMed headquartered in Boca Raton, Florida.
Industry
- Healthcare Technology – ModMed operates in the healthcare technology sector, providing AI-powered software to streamline healthcare workflows.
- Private Equity – Clearlake Capital's significant investment in ModMed marks the firm's interest and activity in the private equity sector.
Financials
- Undisclosed – The financial terms of Clearlake's investment in ModMed were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ModMed | Target Company | Company | A leader in specialty-specific healthcare SaaS technology, developing AI-powered practice technology. |
| Clearlake Capital | Bidding Company | Company | An investment firm focusing on private equity, credit, and related strategies with significant assets under management. |
| Warburg Pincus | Other Company | Company | A previous investor in ModMed, contributing to its growth and development over the years. |
| Pentland Capital | Other Company | Company | A previous supporter of ModMed, recognized for identifying potential in its early stages. |
| Summit Partners | Other Company | Company | A past investor helping ModMed achieve its current position in the healthcare technology market. |
| Morgan Stanley & Co. LLC | Financial Advisor to Clearlake | Company | |
| J.P. Morgan Securities LLC | Financial Advisor to Clearlake | Company | |
| Sidley Austin LLP | Legal Advisor to Clearlake | Company | |
| Goldman Sachs | Financial Advisor to ModMed | Company | |
| Kirkland & Ellis LLP | Legal Advisor to ModMed | Company | |
| Paul, Weiss, Rifkind, Wharton & Garrison LLP | Finance Counsel to ModMed | Company |