$42.7 billion: that’s the annual cost of uncompensated care according to the AHA’s last report.
Clearlake Capital-Backed nThrive Names Healthcare Software Veterans Hemant Goel and James Evans as CEO and CFO
Appointment of Industry Leaders and New Board Members to Accelerate Growth Plans of nThrive (now FinThrive), a Leading Healthcare Platform Dedicated to End-to-End Revenue Management
nThrive (now FinThrive) a leading provider of healthcare revenue management solutions backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), today announced the appointment of Hemant Goel as CEO, and James Evans as CFO, effective immediately. These appointments come on the heels of Clearlake’s platform investment and carve-out of nThrive earlier this year. The Company also announced the appointments of industry veterans Payam Taaghol, Rick Pleczko, and Daniel Hamburger to the nThrive Board of Directors.
“We are excited to welcome Hemant and James to the nThrive and Clearlake family and we look forward to partnering with executives that have such deep experience in the healthcare software ecosystem,” said Behdad Eghbali, Co-Founder and Managing Partner, and Paul Huber, Principal, at Clearlake. “We are also thrilled to announce the appointment of Payam Taaghol, Rick Pleczko, and Daniel Hamburger to the nThrive board. Each of these professionals are longtime executives within the Clearlake software portfolio who we believe can drive accelerated growth and strategic direction for nThrive through Clearlake’s O.P.S.® (Operations, People & Strategy) framework and network of resources.”
Goel brings more than 35 years of experience in healthcare software, technology and private equity-owned companies. He most recently served as CEO of Capsule Technologies, a global medical device integrator, where he spearheaded its sale to Royal Philips (NYSE: PHG). Prior to his roles at Philips and Capsule, Goel served as President and COO of Spok and Vice President, Clinical Solutions at Siemens Health Services, where he had worldwide development responsibilities for Siemens Health Services’ clinical IT solutions business.
“As a newly independent company, nThrive is uniquely positioned to take advantage of current shifts in the healthcare software market, and I’m thrilled to have the opportunity to lead this incredible platform and accelerate its next chapter of growth,” said Mr. Goel. “Healthcare providers are increasingly challenged by complex reimbursement processes and regulatory requirements, and the need for nThrive’s integrated software solutions has never been greater. I look forward to working closely in partnership with the Clearlake team to execute on our organic and inorganic growth plans. I also look forward to partnering with nThrive’s new board members and executive leadership team, who are all industry veterans that I believe will add a tremendous amount of value to our company.”
Evans is a 25-year finance veteran with private equity experience who most recently served as CFO of eSolutions, a provider of revenue cycle technology for healthcare providers. While at eSolutions, Evans managed the company’s sale to Waystar. He previously was CFO for MatrixCare, a leading post-acute healthcare software platform that was acquired by Resmed.
nThrive also made several appointments to the Company’s board. Mr. Taaghol joins the nThrive board as an experienced entrepreneur with a successful track record of growing and monetizing software businesses, most recently serving as Executive Chairman and CEO of former Clearlake portfolio company MYCOM OSI. Mr. Pleczko joins the board after a long history of building leading software companies, most recently as the CEO of Clearlake portfolio company Symplr, a leading healthcare governance, risk and compliance software solutions provider to the healthcare industry. Mr. Hamburger, a proven leader with deep experience growing companies through technology-based innovation, is the current CEO of Clearlake portfolio company Provation, a leading procedure documentation software solution platform for healthcare providers.
FinThrive – formerly nThrive and acquired companies, TransUnion Healthcare and PELITAS – is advancing the healthcare economy. Our 1,600-plus colleagues rethink revenue management to pave the way for a healthcare system that ensures every transaction and patient experience is addressed holistically. We’re making breakthroughs in technology—developing award-winning revenue management solutions that adapt with healthcare professionals, freeing providers and payers from complexity and inefficiency, so they can focus on doing their best work. Our end-to-end revenue management platform delivers a smarter, smoother revenue experience that increases revenue, reduces costs, expands cash collections, and ensures regulatory compliance across the entire revenue cycle continuum. We’ve delivered over $7.6 billion in net revenue and cash to more than 3,245 customers worldwide. When healthcare finance becomes effortless, the boundaries of what’s possible in healthcare expand.
For more information on our new vision for healthcare revenue management, visit FinThrive.com
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 experienced management teams by providing patient, long-term capital to dynamic 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 approximately $39 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.
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