Welcome to our dedicated page for Agiliti news (Ticker: AGTI), a resource for investors and traders seeking the latest updates and insights on Agiliti stock.
Agiliti, Inc. (NYSE: AGTI) is a leading healthcare technology management and service solutions provider in the United States, serving over 10,000 national, regional, and local acute care and alternate site providers. With a team of 3,000 dedicated equipment management experts, Agiliti is committed to optimizing clinical outcomes and improving economic efficiency for its customers. The company’s comprehensive suite of services includes medical equipment management, clinical engineering services, and on-site managed services, which help healthcare providers reduce costs, increase operational efficiency, and deliver optimal patient outcomes.
In recent financial highlights, Agiliti reported a revenue growth of 6.2% for Q2 2023, reaching $291 million. Despite a net loss of $4 million, the company maintained a positive outlook on business visibility and predictability, forecasting annual revenues between $1.16 billion and $1.19 billion. Agiliti has adjusted its EBITDA guidance to $260-$270 million for 2023, reflecting the impact of contract onboarding and business mix changes. The company’s strategic initiatives include a $50 million share repurchase program, indicating confidence in its long-term strategy.
Agiliti’s leadership also saw changes with the return of Tom Leonard as CEO in October 2023, following the departure of Tom Boehning. Under Leonard’s leadership, Agiliti aims to continue its growth trajectory and strengthen its position in the healthcare technology management sector. Key announcements include the company’s agreement to be acquired by Thomas H. Lee Partners, L.P. for $10.00 per share, valuing Agiliti at approximately $2.5 billion, a transaction expected to close in the first half of 2024. This move is poised to further enhance Agiliti’s operational capabilities and market reach.
Agiliti’s annual and quarterly financial results reflect consistent performance, with notable earnings and revenue growth despite industry challenges. The company’s commitment to innovation and client-centric service delivery underscores its role as an essential partner in the U.S. healthcare system.
Agiliti Inc. (AGTI) has been acquired by private equity firm Thomas H. Lee Partners, L.P. for $10.00 per share in cash, totaling a $2.5 billion enterprise value. The acquisition marks the end of Agiliti's trading on the NYSE, with the company now delisted. The CEO, Tom Leonard, expresses excitement for the collaboration with THL to further the mission of providing medical technology management and service solutions to the healthcare industry.
DigitalOcean Holdings Inc. (NYSE: DOCN) will replace Agiliti Inc. (NYSE: AGTI) in the S&P SmallCap 600 effective May 7, 2024. Thomas H. Lee Partners L.P. is acquiring Agiliti. The change will be prior to the opening of trading on the effective date.
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