Clearwater Compliance Announces Investment by Altaris Capital Partners, LLC

NEW YORK & NASHVILLE, Tenn.–(BUSINESS WIRE)–Clearwater Compliance, a top-ranked, award-winning healthcare cyber risk management and regulatory compliance company today announced it has raised capital through an investment from Altaris Capital Partners, LLC. Terms of the transaction were not disclosed.

The investment will allow Clearwater to further accelerate its already exceptional growth. Last year, Clearwater made the Inc. 5000 list of fastest-growing U.S. private companies and was named one of the country’s fastest-growing firms by Consulting magazine.Clearwater’s solutions, which include both cyber risk management software as well as professional services, are exclusively endorsed by the American Hospital Association and multiple state hospital associations. The company has a proven track record for helping hospitals and health systems of all sizes—including over 40 of the top Integrated Delivery Networks in the country, Fortune 100 organizations and federal government institutions. Clearwater’s comprehensive portfolio of state hospital association endorsements now includes close to 800 hospitals. Clearwater’s partnerships include Intel and the National Institute of Standards and Technology’s (NIST) National Cybersecurity Excellence Partnership at NIST’s National Cybersecurity Center of Excellence.

Bob Chaput, founder and CEO of Clearwater Compliance said, “The Clearwater team is passionate about patient safety and managing cyber risk to improve access to care, timely care and quality care. The investment by Altaris will help us further expand our purpose-driven approach to assisting our customers, as Altaris is an exceptional partner with a proven track record of successfully investing in high growth healthcare companies.”

George Aitken-Davies, Managing Director and co-founder of Altaris said, “We are delighted to invest in Clearwater, a true leader in cybersecurity for healthcare organizations, and to be a working partner with them in their next stage of growth.”

Silvermark Partners LLC, and Bass Berry & Sims PLC advised Clearwater on the transaction.

About Clearwater Compliance

Clearwater Compliance, LLC is a leading provider of hospital and health system compliance and cyber risk management solutions. Its mission is to empower hospitals and health systems to successfully manage healthcare’s evolving cybersecurity risks and ensure patient safety. Exclusively endorsed by the American Hospital Association, Clearwater solutions have been deployed within hundreds of hospitals and health systems, Fortune 100 organizations and federal government institutions. More information about Clearwater Compliance is at http://www.Clearwatercompliance.com

About Altaris Capital Partners, LLC

Altaris is an investment firm focused exclusively on the healthcare industry. With $2.3 billion of equity capital under active management, Altaris invests in businesses that deliver value to the healthcare system by improving patient outcomes, reducing costs, increasing efficiency and aligning stakeholder incentives. Altaris is based in New York, NY. For more information on Altaris, visit www.altariscap.com.