60.5 F
Laguna Hills
Monday, Jun 17, 2024
-Advertisement-

NextGen Agrees to $1.6B Sale to Thoma Bravo

Shares reach highest price in decade

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.

Want more from the best local business newspaper in the country?

Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!

Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-
-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-