NextGen Healthcare Inc. (NXGN), a healthcare company Atlanta, Georgia health data provider, has agreed to be acquired by private equity firm Thoma Bravo in a deal valued at $1.6 billion.
Points to remember
- NextGen Healthcare Inc. on Wednesday agreed to be acquired by private equity firm Thoma Bravo in a deal valued at $1.6 billion.
- Company shareholders will receive $23.95 per share in cash, representing a Premium amount of 46.4% over the closing share price on August 22.
- NextGen shares have jumped more than 40% since August 22, just before news of a potential sale of the company went public.
Upon completion, NextGen Healthcare, which has traded on the Nasdaq since 1982, will become a private company. Company shareholders will receive $23.95 per share in cash, a 46.4% premium to the stock's closing price on Aug. 22, just before the announcement. a potential sale of the company is made public.
NextGen President and CEO David Sides said a deal with Thoma Bravo would increase shareholder value and provide the company with “increased capital, expertise and strategic flexibility.”
Thoma Bravo Vice President Peter Hernandez said the company has been tracking NextGen's business transformation for many years and that an agreement would help “further accelerate product investments to improve patient outcomes.”
NextGen shares jumped from more than 14% on Wednesday. They have increased by more than 40% over the last two weeks, and by 30% since the beginning of September.
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Source: investopedia.com