Private equity group Thoma Bravo has entered into an agreement to acquire EHR vendor NextGen Healthcare for about $1.61 billion in cash, MarketWatch reported Sept. 6.
Under the terms of the agreement, NextGen shareholders will receive $23.95 in cash for each share they own. The deal was unanimously approved by NextGen's board of directors, according to a Sept. 6 NextGen news release.
The transaction is expected to be completed in the fourth calendar quarter of 2023.
"NextGen Healthcare's mission-critical EMR software and surrounding solutions are the backbone of ambulatory practices across the United States," A.J. Rohde, a senior partner at Thoma Bravo, said in the release. "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."