Greenway Medical Technologies and Vitera Healthcare Solutions to combine, according to an announcement today stating that a definitive agreement will result in the combination of the businesses. The transaction will create a major healthcare information technology and services provider, offering a set of solutions for clinical and financial outcomes in healthcare enterprises, ambulatory practices, public health, retail and other clinics nationwide. Following the closing of the transaction, it is reported that the Vitera and Greenway businesses will serve nearly 13,000 medical organizations and 100,000 providers.
Under the terms of the agreement, Vista Equity Partners, which owns Vitera Healthcare Solutions, will pay Greenway stockholders $20.35 in cash for each share of Greenway common stock they hold. The price represents a 62 percent premium to Greenway’s 90-day volume weighted average stock price, and a 20 percent premium to Greenway’s closing share price the day before the merger agreement was signed. The all-cash transaction is valued at approximately $644 million. The Greenway Board of Directors has unanimously approved the definitive merger agreement. Upon closing, Greenway will operate as a privately held company.