Ten Weeks After the Money Arrived, Two Retiring Servers Got Popped
On April 30, 2025, Clearlake Capital finalized a majority investment in Modernizing Medicine (“ModMed”), valuing the specialty healthcare software-as-a-service (SaaS) company at $5.3 billion. Ten weeks later, on July 9, an unauthorized party accessed two servers inside ModMed’s infrastructure. These weren’t production systems powering the electronic health records (EHR) used by 40,000 providers. They were…