FINTHRIVE ANNOUNCES NEW CAPITAL INFUSION TO SUPPORT ACCELERATED GROWTH

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November 18, 2024 4:05 PM EST

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Transaction provides incremental funding to execute on strategic initiatives and drive innovation

PLANO, Texas, Nov. 18, 2024 /PRNewswire/ -- FinThrive, Inc. ("FinThrive" or the "Company"), a healthcare revenue cycle management ("RCM") software-as-a-service ("SaaS") provider advancing the healthcare economy and a portfolio company of Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake"), today announced the closing of a refinancing transaction of its outstanding debt with a substantial majority of holders of its existing first lien and second lien term loans due in 2028 and 2029.

As part of this transaction, FinThrive raised $155 million of new capital, extended the maturity of its revolving credit facility and de-levered its balance sheet, further bolstering its liquidity position and financial flexibility. The transaction is open to all holders of its existing first lien and second lien term loans.

FinThrive is transforming revenue cycle management by delivering a frictionless experience that frees healthcare organizations from the burden of managing disparate systems and vendors, enabling a renewed focus on patient care. Its intelligent revenue management platform, designed to holistically enhance efficiency and resiliency across the revenue cycle and supported by decades of experience, empowers financial teams to deliver better outcomes for patients, payers and providers.

"We are excited about closing this transaction to enhance our financial flexibility and allow us to further invest in our technology platform accelerating innovation in revenue cycle management," said Hemant Goel, President & CEO of FinThrive. "We appreciate the continued support from our investors and lenders in backing FinThrive's strategic vision, positioning us to assist our customers in an evolving financial, regulatory and security landscape."

"This transaction is an important milestone for FinThrive to support its product development and organic growth efforts, further enabling the Company to scale and support its mission to better healthcare," said Behdad Eghbali, Co-Founder and Managing Partner, and Paul Huber, Managing Director, of Clearlake. "We look forward to continuing to collaborate with the FinThrive team to deliver product advances to its healthcare customers, including in exciting areas such as artificial intelligence and machine learning."

Evercore Group, LLC and Kirkland & Ellis LLP served as financial and legal advisors to FinThrive. Perella Weinberg Partners LP and Gibson, Dunn & Crutcher LLP served as financial and legal advisors to certain FinThrive lenders.

About FinThrive
FinThrive empowers healthcare organizations to increase revenue, reduce costs, expand cash collections and ensure regulatory compliance across the entire revenue cycle continuum. Providing one of healthcare's most comprehensive revenue cycle management SaaS platforms, FinThrive's holistic approach to intelligent revenue management offers patient access, charge integrity, claims management, contract management, machine learning & robotic process automation, end-to-end analytics and education solutions. More than 3,200 healthcare providers are using FinThrive today. For more information, visit finthrive.com.

About Clearlake
Clearlake 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 investment approach, O.P.S.^®. The firm's core target sectors are industrials, technology and consumer. Clearlake currently has over $85 billion of assets under management and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK, Dublin, Ireland, Singapore and Abu Dhabi, UAE. More information is available at www.clearlake.com.