NextGen Healthcare Inc., a healthcare technology software company with deep ties to Orange County (Nasdaq: NXGN), agreed to be taken private by Thoma Bravo in a $1.6 billion deal.
NextGen shareholders will receive $23.95 per share in cash, a 46% premium to the company’s closing stock price on August 22, the last trading day prior to a Reuters report regarding a potential transaction.
“The agreement with Thoma Bravo validates NextGen Healthcare’s substantial strength and follows interest in the Company by many parties,” NextGen Chair Jeffrey Margolis said in a statement.
The deal, which was announced yesterday, is expected to close in the fourth quarter.
The shares rose 15% yesterday when the agreement was announced. It represents the share’s highest price in a decade for the company, which went public in the 1980s.
NextGen, which began in 1974 in Orange County, provides cloud-based software that helps doctors manage patient records.
