California private equity firm Sunstone Partners has acquired majority ownership of Nashville-based health care industry-focused cyber risk management company Clearwater.

As part of the transaction and according to a release, Steve Cagle will transition from his role as Clearwater CEO to a board advisory role. Relatedly, Baxter Lee, who has served as Clearwater chief financial officer since 2018, has been promoted to company president.

Baxter Lee

Baxter Lee

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