M&A Deal Summary

NextGen Healthcare Acquires HealthFusion

On November 2, 2015, NextGen Healthcare, Inc. acquired internet software and services company HealthFusion, Inc. from Alcentra Capital Corporation for 190M USD

Acquisition Highlights
  • This is NextGen Healthcare’s 1st transaction in the Internet Software and Services sector.
  • This is NextGen Healthcare’s 1st largest (disclosed) transaction.
  • This is NextGen Healthcare’s 8th transaction in the United States.
  • This is NextGen Healthcare’s 2nd transaction in California.

M&A Deal Summary

Date 2015-11-02
Target HealthFusion, Inc.
Sector Internet Software and Services
Buyer(s) NextGen Healthcare, Inc.
Sellers(s) Alcentra Capital Corporation
Deal Type Add-on Acquisition
Deal Value 190M USD
Advisor(s) Triple Tree LLC (Financial)
Wilson Sonsini Goodrich & Rosati (Legal)

Target

HealthFusion, Inc.

Solana Beach, California, United States
website
HealthFusion, Inc. is a developer of web-based cloud computing software for physicians, hospitals and medical billing services.

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Buyer(S) 1

Buyer

NextGen Healthcare, Inc.

Atlanta, California, United States

website


Category Company
Founded 1974
SectorInformation Technology
Employees2,564
Revenue 557M USD (2021)
DESCRIPTION

NextGen Healthcare subsidiary develop and market computer-based practice management, electronic health records and revenue cycle management applications as well as connectivity products and services for medical and dental group practices and small hospitals. NextGen Healthcare was founded in 1974 and is based in Irvine, California.


DEAL STATS #
Overall 8 of 11
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 8 of 10
State (California) 2 of 2
Country (United States) 8 of 11
Year (2015) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-09 Gennius, Inc.

Waltham, Massachusetts, United States

Gennius, Inc. is a provider of healthcare data analytics company with capabilities to harmonize data to prepare and compute utilization and quality analyses of integrated patient, administrative, and financial data across medical settings and time periods. Its solutions generate comprehensive performance information needed to successfully support provider organizations under new coordinated delivery and reimbursement models.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-19 The Poseidon Group, Inc.

Atlanta, Georgia, United States

The Poseidon Group, Inc. is a provider of emergency department documentation and web-based electronic medical record (EMR) solutions, serving hospital emergency departments with both large and small volumes across the U.S. Poseidon is focused on addressing the needs of healthcare providers by providing documentation and web-based EDIS solutions to the healthcare industry.

Sell -

Seller(S) 1

SELLER

Alcentra Capital Corporation

New York, New York, United States

website


Category Mezzanine Finance Firm
Founded 1998
PE ASSETS 540M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

Alcentra Capital Corporation is the direct investment arm of asset management firm Alcentra. Alcentra capital looks to provide equity and subordinated debt to middle-market companies throughout North America. The Firm looks to invest $5 to $15 million per transaction in profitable companies with $5 to $15 million of EBITDA. Sectors of interest include healthcare, government services, business services, and defense. Alcentra Capital Corporation was formerly known as BNY Mellon-Alcentra Mezzanine Partners. The Group was originally established in 1998 and is based in New York City.


DEAL STATS #
Overall 28 of 38
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 11 of 17
State (California) 4 of 5
Country (United States) 27 of 37
Year (2015) 2 of 3
Size (of disclosed) 8 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-24 GracoRoberts

Arlington, Texas, United States

GracoRoberts is a value-added distributor of paints and other coatings, adhesives, sealants, lubricants, composite materials, tapes and safety products used in the manufacture and maintenance, repair and overhaul of commercial, business and military aircraft. GracoRoberts also provides value-added services including custom repackaging, temperature-sensitive material handling, tinting, and supply chain management services to its customers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-19 Net Access LLC

Cedar Knolls, New Jersey, United States

Net Access LLC is a provider of data center and managed services.

Sell -