Between Jan. 16 and March 1, 2024, 65 people will be laid off from NextGen Healthcare Inc. in Horsham Township, according to a Pennsylvania Department of Labor and Industry’s November 2023 WARN notice.
The layoffs, according to Philadelphia Business Journal, come in the wake of a $1.8 billion takeover by Thoma Bravo on Nov. 10, which took the company private. NextGen Healthcare, according to Business Insider, develops cutting-edge cloud-based healthcare technology solutions. Thoma Bravo is a software investment firm, per reports.
In taking the company private, NextGen shareholders will get $23.95 per share in cash, per reports.
According to Business Insider, NextGen has a client base of more than 100,000 ambulatory healthcare providers and develops innovations "designed to alleviate physician burnout and improve patient experience.” These innovations include software NextGen Enterprise, ambient listening solution and AI-powered NextGen Ambient Assist, NextGen mobile, and NextGen Virtual Visits.
The acquisition has occurred during a time when, according to Reuters, private equity firms are "doubling down” on the healthcare technology business, as it has shown to be a moneymaker in the times of economic downturns.
See also:
Precision Watches to Open Store at Welsh Road and Bethlehem Pike
OfficeMax in Montgomeryville to Permanently Close
Harleysville Veterinary Hospital Marks 40 Years in Practice
Almac Group to Host Exclusive Veteran Recruitment Day in Souderton
