NextGen Healthcare (NASDAQ:NXGN) shares are up in double digits today after the healthcare technology solutions provider agreed to be acquired by private equity major Thoma Bravo.
Under the deal, NextGen investors will receive $23.95 in cash for each NXGN share held by them. The consideration represents a massive 46.4% premium over the stock’s closing price on August 22. Today’s final announcement comes after much market speculation, and NextGen will transition into private ownership upon the completion of the deal.
Importantly, the strategic move is expected to accelerate Nextgen’s growth and innovation. Thoma Bravo has a proven track record in software and technology verticals, and NextGen stands to benefit from its expertise, strategic flexibility, and deep pockets.
The transaction has received unanimous approval from NextGen’s Board and is anticipated to close in the fourth quarter.
After climbing nearly 23% over the past month, NextGen shares are up a further 14% in the pre-market session today.
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