PE Deals

Thoma Bravo to take NextGen Healthcare private

According to terms of the agreement, NextGen Healthcare shareholders will receive $23.95 per share in cash.

-
  • When the transaction closes, NextGen Healthcare will no longer trade on the NASDAQ
  • The deal is expected to close in the fourth calendar quarter of 2023
  • Morgan Stanley is acting as financial advisor to NextGen Healthcare while William Blair & Company is acting as financial advisor to Thoma Bravo

Thoma Bravo has agreed to acquire NextGen Healthcare, an Atlanta-based provider of healthcare tech solutions, in a take-private deal.

According to terms of the agreement, NextGen Healthcare shareholders will receive $23.95 per share in cash. When the transaction closes, NextGen Healthcare will no longer trade on the NASDAQ.

The deal is expected to close in the fourth calendar quarter of 2023.

“NextGen Healthcare’s mission-critical EMR software and surround solutions are the backbone of ambulatory practices across the United States,” said A.J. Rohde, a senior partner at Thoma Bravo in a statement. “We are so proud to be working with NextGen Healthcare in its next phase as a private company and look forward to continued product innovation to better support NextGen Healthcare’s thousands of highly-valued customers.”

Morgan Stanley is acting as financial advisor to NextGen Healthcare, and Latham & Watkins LLP is acting as legal advisor.

William Blair & Company is acting as financial advisor to Thoma Bravo, and Goodwin Procter LLP is acting as legal advisor.

Thoma Bravo invests in the software sector. The firm has more than $131 billion in assets under management as of June 30, 2023.