Thoma Bravo has acquired NextGen Healthcare, Inc., a provider of cloud-based healthcare technology solutions, for $1.8bn.
The acquisition agreement was first announced on September 6, 2023 and approved by NextGen Healthcare shareholders at the Special Shareholder Meeting held on November 7.
Thoma Bravo will add more than 100,000 ambulatory healthcare providers who care for more than 65 million patients in the US to its portfolio.
In addition, it will on-board NextGen Healthcare’s portfolio of “innovations designed to alleviate physician burnout and improve the patient experience”. These include AI-powered NextGen Ambient Assist, an ambient listening solution that securely populates the EHR, NextGen Mobile and NextGen Virtual Visits. NextGen Healthcare also serves the small practice market with its NextGen Office SaaS solution.
David Sides, president and chief executive officer of NextGen Healthcare, said: “We are delighted to partner with Thoma Bravo to accelerate the delivery of transformational solutions to the ambulatory healthcare marketplace.
“Our employees, clients and partners are unified behind our vision of achieving Better Healthcare Outcomes for All. By combining our deep healthcare domain expertise with Thoma Bravo’s renowned operational expertise, we believe we can deliver on that vision faster.”
A.J. Rohde, a senior partner at Thoma Bravo, said:”NextGen Healthcare’s client-centric suite of solutions help solve some of the most critical problems facing ambulatory healthcare providers of all sizes across the country. Together with David and his team, we look forward to driving accelerated growth and product innovation to even better serve the healthcare industry – from provider to patient.”
“We are excited to support NextGen Healthcare’s long-term growth by leveraging Thoma Bravo’s operational and software expertise,” said Peter Hernandez, a vice president at Thoma Bravo. “We look forward to adding new products and capabilities, both organically and inorganically, to continue enabling NextGen Healthcare’s customers to deliver exceptional patient outcomes.”
