THL indicators a $2.5 billion acquisition deal for American HealthTech Agiliti
US personal fairness agency Thomas H Lee Companions (THL), by way of its subsidiary, has signed a definitive settlement to amass Agiliti, a supplier of medical expertise administration and providers options, valuing the corporate at roughly $2.5 billion.
Upon completion of the deal, Agiliti will turn into a personal firm and can now not be publicly traded or traded on the NYSE.
As a part of the newest deal, THL will buy all excellent widespread shares of Agiliti not presently owned by THL, its subsidiaries and administration shareholders for $10.00 every in money.
The consideration represents a premium of roughly 39% and 43% over Agiliti's 30-day and 90-day volume-weighted common worth per share, respectively.
THL is almost all proprietor of Agiliti, which serves greater than 10,000 healthcare suppliers within the U.S., together with acute care and different care suppliers.
Agiliti helps healthcare suppliers cut back prices, enhance operational effectivity, and assist optimum affected person outcomes.
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As well as, a particular committee of Agiliti's board of administrators, composed of non-management administrators not affiliated with THL, and suggested by impartial authorized and monetary advisors, discovered that the transaction was useful to Agiliti and its shareholders, excluding THL and its subsidiaries.
Following the unanimous suggestion of the Particular Committee, Agiliti's board of administrators authorised the proposed merger.
The deal is predicted to shut within the first half of 2024, after customary closing situations have been met.
It has been authorised by THL Agiliti in its capability as majority shareholder of Agiliti and no different shareholder approval is required.
Centerview Companions serves as unique monetary advisor, whereas Weil, Gotshal & Manges offers authorized recommendation to the Particular Committee.
Goldman Sachs & Co and Ropes & Grey act as unique monetary advisor and authorized advisor to THL, respectively.
Tom Leonard, CEO of Agiliti, stated: “We’re happy to broaden our five-year partnership with THL in a transaction that gives quick worth and liquidity to our shareholders whereas eliminating sure overhangs which have hampered our public market efficiency for the reason that time of our had restricted the IPO. .”
