Investment firm Thoma Bravo is currently engaged in advanced negotiations to acquire NextGen Healthcare, a prominent electronic health record (EHR) vendor, according to anonymous insiders cited in coverage by Bloomberg. The sources suggest that the private equity firm may unveil the deal as early as this week.
It's important to note that no definitive decision has been reached, and the discussions remain subject to potential changes or setbacks. Prior to engaging with Thoma Bravo, NextGen had attracted interest from several other private equity firms. In late August, Reuters reported that NextGen was exploring various strategic options, including a potential sale of the company. Sources with knowledge of the situation indicated that the company had enlisted the services of investment bank Morgan Stanley to guide its discussions with potential buyers.
NextGen, originally headquartered in Atlanta, specializes in offering cloud-based technology services that enable healthcare providers to efficiently manage patient records and other related services, as outlined in its annual report.
Thoma Bravo, under the leadership of managing partner Orlando Bravo, has firmly established itself as one of the most active technology-focused private equity firms. Recent deals include the sale of financial software company Adenza to Nasdaq for $10.5 billion and the $3.6 billion agreement to divest from Imperva, another software company.
Orlando Bravo earned an award from the Hispanic Technology Executive Council in August as a top 100 most influential leader.
The market appears to be taking notice of the potential sale, with NextGen stock seeing an increase of over 12% in the last five days.
Chad is an award-winning writer and editor with over 15 years of experience working in media. He has a decade-long professional background in healthcare, working as a writer and in public relations.