NXGN - Why Shares of NextGen Healthcare Are Rising Wednesday
2023-09-06 12:59:27 ET
Shares of NextGen Healthcare (NASDAQ: NXGN) were up more than 14% as of 12:30 p.m. on Wednesday after the healthcare company agreed to a buyout offer from private equity firm Thoma Bravo. The stock is down more than 79% this year.
NextGen focuses on providing cloud-based healthcare technology solutions, including electronic health records.
The agreement is for Thoma Bravo to buy out NextGen at $23.95 per share, 46% over the company's closing stock price on Aug. 22, the last day before word of the transaction got out. After the $1.6 billion deal is completed, NextGen will become a privately held company. This will happen in the fourth quarter, pending approval from shareholders and regulators. The all-cash deal is not subject to financing conditions.
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Why Shares of NextGen Healthcare Are Rising Wednesday