NextGen Healthcare Inks $1.6 Billion Sale to PE Firm Thoma Bravo
Private equity group Thoma Bravo has entered into an agreement to acquire NextGen Healthcare, Inc. for approximately $1.61 billion. Under the terms of the agreement, NextGen Healthcare shareholders will receive $23.95 per share in cash. NextGen Healthcare is an American software and services company headquartered in Atlanta, Georgia. The company develops and sells electronic health record (EHR) software and practice management systems to the healthcare industry. According to its most recent financial report, the company’s revenue for the fiscal year ended March 31, 2022 was $596.4 million. Thoma Bravo is a leading private equity investment firm building on a 30-plus year... Read More »
Abbott Signs Definitive Agreement to Acquire Bigfoot Biomedical
Abbott has entered a definitive agreement for the acquisition of Bigfoot Biomedical Inc. for an undisclosed price. Bigfoot Biomedical is a medical technology start-up headquartered in Milpitas, California, founded by a team of people with personal connections to type 1 and type 2 diabetes. One of its lead products is Bigfoot Unity, a smart insulin management system. It features connected insulin pen caps that use continuous glucose monitoring data and healthcare provider instructions. The system is indicated for use by people aged 12 years and older with diabetes who need multiple insulin injections every day. Abbott manufactures and sells healthcare products worldwide... Read More »
PracticeTek Merges with Integrated Practice Solutions
PracticeTek announced on September 5 that it merged with Integrated Practice Solutions (IPS) for an undisclosed price. The combined company will retain the PracticeTek brand. IPS is a retail healthcare software company, with product lines in the segments of chiropractic, optometry and speech therapies. IPS provides mission-critical practice management, electronic health record, integrated payments and revenue cycle management solutions to help specialty healthcare providers streamline operations, improve patient care and increase practice profitability. PracticeTek is a Knoxville, Tennessee-based investment firm that targets healthcare software companies. The company is backed... Read More »
Healthcare Subsectors Drive Double-Digit M&A Decline in 2023
There is no shortage of subsectors contributing to the overall double-digit percentage decline in healthcare M&A activity in 2023. According to the LevinPro HC database, there have been 1,299 healthcare M&A deals this year through July 31. This represents an 12% drop compared with the 1,481 transactions recorded during the same period in 2022. The 2023 total represents a 5% increase from the 1,240 deals posted in 2021 through July 31. Some of the subsectors that have contributed to the M&A activity decline this year include Contract Development Manufacturing Organizations (CDMO), healthcare staffing firms, infusion services companies, primary & value-based care... Read More »