In a cash deal valued at $644 million, Vista Equity Partners, Vitera’s parent company, will buy Greenway Medical Technologies. The deal expected to close this year following regulatory approvals would combine the two electronic health record companies.
In a cash deal valued at $644 million, Vista Equity Partners, Vitera’s parent company, will buy Greenway Medical Technologies.
The combined business is said to serve nearly 13,000 medical organizations and 100,000 medical providers. Both companies offer electronic health record systems and other health information technology solutions to physicians and other healthcare providers.
As part of the definitive agreement, Vista Equity Partners will pay Greenway stockholders (NYSE: GWAY) $20.35 in cash for each share of common stock.
The Greenway Board of Directors unanimously approved the definitive merger yesterday. Officials anticipate the merger will close in the fourth quarter of 2013 following customary regulatory approvals and closing conditions.
Greenway will operate as a privately held company following the completion of the merger agreement.
It is anticipated that the Vitera and Greenway businesses will continue as Greenway Medical Technologies with the products and services of both Greenway and Vitera marketed under the Greenway brand, the company states.
Greenway will continue to have headquarters and principal operations in Carrollton, GA, Tampa, FL and Birmingham, AL, the companies report.
Click here to read the full news release.