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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.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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