Francisco Partners to Acquire AdvancedMD from Global Payments
Francisco Partners has signed a definitive agreement to acquire AdvancedMD from Global Payments (NYSE: GPN). AdvancedMD, founded in 1999, provides cloud-based medical office software solutions integrating practice management, electronic health records, patient engagement, and payments. The company will continue operating under its existing management team, with Amanda Sharp assuming the additional role of CEO. Global Payments will maintain its payment acceptance capabilities as a long-term partner. The acquisition is expected to close in Q4 2024, subject to customary closing conditions.
Francisco Partners ha firmato un accordo definitivo per acquisire AdvancedMD da Global Payments (NYSE: GPN). Fondata nel 1999, AdvancedMD offre soluzioni software per uffici medici basate sul cloud, integrando gestione della pratica, cartelle cliniche elettroniche, coinvolgimento dei pazienti e pagamenti. L'azienda continuerà a operare sotto il suo attuale team di gestione, con Amanda Sharp che assumerà il ruolo aggiuntivo di CEO. Global Payments manterrà le sue capacità di accettazione dei pagamenti come partner a lungo termine. Si prevede che l'acquisizione si chiuda nel quarto trimestre del 2024, soggetta alle condizioni di chiusura consuete.
Francisco Partners ha firmado un acuerdo definitivo para adquirir AdvancedMD de Global Payments (NYSE: GPN). Fundada en 1999, AdvancedMD proporciona soluciones de software para oficinas médicas basadas en la nube, integrando gestión de práctica, registros médicos electrónicos, participación del paciente y pagos. La empresa continuará operando bajo su actual equipo directivo, con Amanda Sharp asumiendo el rol adicional de CEO. Global Payments mantendrá sus capacidades de aceptación de pagos como socio a largo plazo. Se espera que la adquisición se cierre en el cuarto trimestre de 2024, sujeto a las condiciones de cierre habituales.
프란시스코 파트너스는 글로벌 페이먼츠(NYSE: GPN)로부터 어드밴스MD를 인수하기 위한 최종 계약을 체결했습니다. 1999년에 설립된 어드밴스MD는 클라우드 기반의 의료 사무소 소프트웨어 솔루션을 제공하며, 진료 관리, 전자 건강 기록, 환자 참여 및 결제를 통합합니다. 이 회사는 기존 경영 팀 하에 계속 운영될 예정이며, 아만다 샤프가 추가적으로 CEO 역할을 맡게 됩니다. 글로벌 페이먼츠는 장기 파트너로서 결제 수락 기능을 유지할 것입니다. 인수는 2024년 4분기에 종료될 것으로 예상되며, 일반적인 종료 조건에 따라 다릅니다.
Francisco Partners a signé un accord définitif pour acquérir AdvancedMD auprès de Global Payments (NYSE: GPN). Fondée en 1999, AdvancedMD fournit des solutions logicielles pour les cabinets médicaux basées sur le cloud, intégrant la gestion de cabinet, les dossiers de santé électroniques, l'engagement des patients et les paiements. L'entreprise continuera d'opérer sous son équipe de direction actuelle, avec Amanda Sharp prenant le rôle supplémentaire de PDG. Global Payments conservera ses capacités d'acceptation des paiements en tant que partenaire à long terme. L'acquisition devrait se finaliser au quatrième trimestre 2024, sous réserve des conditions de clôture habituelles.
Francisco Partners hat eine endgültige Vereinbarung zur Übernahme von AdvancedMD von Global Payments (NYSE: GPN) unterzeichnet. AdvancedMD, 1999 gegründet, bietet cloudbasierte Softwarelösungen für Arztpraxen an, die Praxismanagement, elektronische Gesundheitsakten, Patientenengagement und Zahlungen integrieren. Das Unternehmen wird weiterhin unter dem aktuellen Managementteam tätig sein, wobei Amanda Sharp die zusätzliche Rolle als CEO übernehmen wird. Global Payments wird seine Zahlungsakzeptanzfähigkeiten als langfristiger Partner beibehalten. Es wird erwartet, dass die Übernahme im vierten Quartal 2024 abgeschlossen wird, vorbehaltlich der üblichen Abschlussbedingungen.
- Strategic partnership continuation with Global Payments for payment processing services
- Existing management team retention ensures operational continuity
- Potential for accelerated growth and innovation through Francisco Partners' healthcare technology expertise
- Access to Francisco Partners' extensive experience in technology investments and healthcare sector
- None.
Insights
This strategic divestiture of AdvancedMD by Global Payments (GPN) to Francisco Partners represents a significant transaction in the healthcare technology sector. While the deal value remains undisclosed, the impact on GPN warrants attention. The arrangement maintains GPN's payment processing relationship with AdvancedMD, preserving a revenue stream while allowing the company to streamline its portfolio.
The deal structure suggests GPN is focusing on its core payment technology business while monetizing a non-core asset. The retention of payment processing rights indicates a well-thought-out exit strategy that minimizes revenue disruption. For GPN shareholders, this move could improve capital allocation efficiency and potentially strengthen the balance sheet, though the financial impact will depend on the undisclosed transaction terms.
Francisco Partners' prior experience with AdvancedMD and track record in healthcare technology carve-outs suggests potential upside in the standalone operation. The Q4 2024 closing timeline provides adequate transition planning while maintaining business continuity.
The acquisition positions AdvancedMD for accelerated growth in the competitive healthcare software market. The company's integrated platform combining practice management, EHR, patient engagement and payments represents a comprehensive solution addressing critical healthcare provider needs. Francisco Partners' expertise in healthcare technology and successful track record with similar carve-outs like bswift and Merative could drive product innovation and market expansion.
The retention of the existing management team, led by Amanda Sharp, ensures operational continuity and deep industry knowledge. The cloud-native architecture of AdvancedMD's platform provides a strong foundation for scaling and introducing new features to meet evolving healthcare delivery demands. The partnership with Global Payments for payment processing maintains a important competitive advantage in the integrated healthcare payments space.
Acquisition to position AdvancedMD as standalone business to accelerate investment and expansion
Founded in 1999, AdvancedMD provides a cloud native medical office software platform that unifies practice management, electronic health record, patient engagement, and payments software solutions. AdvancedMD delivers an end-to-end practice and patient workflow to help healthcare practices, independent physicians, and medical billers optimize operations, reduce administrative burdens, manage higher patient encounters and improve patient outcomes. AdvancedMD will continue to serve thousands of healthcare professionals by delivering a technology platform that supports practices through every stage of the patient care journey.
The business will continue to be led by its existing management team, with current President Amanda Sharp assuming the additional title of Chief Executive Officer of AdvancedMD. Commenting on the acquisition Sharp said, “Our mission at AdvancedMD is to empower healthcare professionals to realize their full potential. This acquisition positions our business to meet the evolving needs of our clients, expand the product portfolio and continue to invest in the business and our team members. We are thrilled to be working with Francisco Partners and have confidence that its healthcare technology experience and proven track record in nurturing and growing technology businesses will enable AdvancedMD’s loyal base of employees to continue delivering innovation.”
Since its launch 25 years ago, Francisco Partners has invested in over 450 technology companies, making it one of the most active and long-standing investors in the technology industry. FP has deep experience in the healthcare technology market and its investments have focused on companies that provide the best possible products and service for its customers and partners. Francisco Partners also has extensive experience partnering with corporations to execute divisional carve-outs with transactions such as bswift from CVS Health, Merative (f.k.a. IBM Watson Health) from IBM, and Capsule Technologies from Qualcomm.
Justin Chen, Partner at Francisco Partners, said, “We are excited to welcome AdvancedMD back to the FP portfolio and to partner with the team to continue building best-in-class healthcare software. AdvancedMD’s end-to-end platform delivers an integrated user experience for patients, physicians, staff and billers, and is well-positioned to ensure its customers’ success.” Anders Mikkelsen, Principal at Francisco Partners, added, “The AdvancedMD team is committed to serving the healthcare industry’s constantly evolving needs and challenges. We are eager to support the talented employees and management team in its next chapter of growth.”
“We had the privilege of investing in AdvancedMD years ago, and it’s been remarkable to see the consistent long-term track record of growth and innovation since. We appreciate all Global Payments has done to drive growth and innovation in this business and are confident that our acquisition will help AdvancedMD build on its strong foundation of success,” said Ezra Perlman, Co-President at Francisco Partners.
Global Payments will continue to power the company’s payment acceptance capabilities as a long-term partner ensuring consistency of delivery and a seamless transition for employees and customers.
The acquisition is expected to close in the fourth quarter of 2024, subject to the satisfaction of customary closing conditions.
Moelis & Company LLC is acting as financial advisor and Kirkland & Ellis LLP is serving as legal advisor to Francisco Partners.
Bank of America is serving as exclusive financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Global Payments.
About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch 25 years ago, Francisco Partners has invested in over 450 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately
About AdvancedMD
AdvancedMD revolutionized medical office software in 1999 with the introduction of the industry’s first true cloud solution. Today, the company continues to lead HealthTech innovation with a complete cloud suite of smart applications that work in unison, accelerating collaborative workflow for every role of the practice. With AdvancedMD, medical office staff are empowered to thrive in the online age of healthcare and value-based reimbursement with essential clinical, financial, patient engagement and reputation management applications that are unified and available anytime, anywhere on any device. AdvancedMD strives to be the technology heartbeat of healthcare for providers, patients, and payors for a healthier world. For more information on AdvancedMD, please visit www.advancedmd.com.
About Global Payments
Global Payments Inc. (NYSE: GPN) is a leading payments technology company delivering innovative software and services to our customers globally. Our technologies, services and team member expertise allow us to provide a broad range of solutions that enable our customers to operate their businesses more efficiently across a variety of channels around the world.
Headquartered in
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Media:
Francisco Partners
Whit Clay
wclay@sloanepr.com
Global Payments
Emily Edmonds
media.relations@globalpay.com
Source: Francisco Partners
FAQ
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