ModMed announced that it has received a significant majority growth investment from Clearlake Capital Group, L.P. The buyout values the company at $5.3 billion, including debt.
ModMed empowers medical practices to grow and scale by delivering better patient experiences with cloud, data and AI technologies. Leveraging extensive clinical data sets, the company designs software solutions to simplify, automate and streamline clinical workflows and drive practice efficiency. With specialty-specific electronic health records, practice management, revenue cycle management and analytics solutions, as well as products for patient engagement, payment processing and marketing, ModMed is trusted by more than 40,000 providers to drive clinical and operational success.
ModMed acquired Klara in February 2022, and Xtract Solutions’ allergy testing and immunotherapy software in January 2023. The purchase price for both of those deals were not disclosed.
Clearlake Capital is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. Clearlake currently has more than $90 billion of assets under management, its senior investment principals have led or co-led more than 400 investments, and has deployed more than $57 billion in liquid and illiquid credit investments globally.
Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC are serving as financial advisors to Clearlake. Sidley Austin LLP is serving as legal advisor to Clearlake. Goldman Sachs is serving as exclusive financial advisor, Kirkland & Ellis LLP is serving as legal advisor, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as finance counsel to ModMed.
According to data in the LevinPro HC database, this transaction marks the 57th eHealth acquisition of 2025 and the ninth in the medical practice management software (MPMS) specialty. There were 58 MPMS transactions announced in 2024, 47 announced in 2023 and 51 announced in 2022.
