Thoma Bravo takes NextGen Healthcare private

Health Care · United States · $1.8B (incl. debt)

Thoma Bravo acquired NextGen Healthcare, Inc. in an all-cash take-private transaction valued at $1.8 billion including debt ($1.61 billion equity value), with shareholders receiving $23.95 per share, a 46.4% premium to the unaffected share price. The deal was announced September 6, 2023 and completed November 10, 2023. Morgan Stanley and Latham & Watkins advised NextGen Healthcare; William Blair and Goodwin Procter advised Thoma Bravo. In June 2025, Madison Dearborn Partners acquired a significant ownership stake alongside Thoma Bravo.