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Global Payments Inc. is considering selling its payroll and Active Network businesses after a strategic review. The Atlanta-based company is collaborating with financial advisers to identify potential buyers, although no final decisions have been made, and it may choose to retain the units.
Francisco Partners is set to acquire AdvancedMD, a medical software company, from Global Payments for $1.125 billion. This deal, expected to close this quarter, aims to position AdvancedMD as a standalone entity to enhance investment and expansion in its cloud-based healthcare solutions.AdvancedMD, based in South Jordan, Utah, serves 40,000 practitioners and employs 800 people, providing a comprehensive software platform for practice management and patient engagement. Amanda Sharp, the company's president, will become CEO following the acquisition.
This week saw significant healthcare deals, including VitalHub's acquisition of Strata Health for approximately $23.3 million, aimed at expanding into the electronic referral market. Private equity firm Francisco Partners plans to acquire AdvancedMD for $1.12 billion, while CareTrust REIT is set to purchase 31 nursing homes for $500 million. Additionally, Black River Memorial Hospital and Krohn Clinic in Wisconsin have agreed to merge, forming Black River Health, with the deal expected to close on December 30.
Global Payments Inc. focuses on creating payment solutions for various sectors, including merchants, e-commerce, financial institutions, and gaming operators. Their services facilitate the acceptance of multiple payment types across various channels, with a significant revenue distribution of 81.4% from the Americas, 15.9% from Europe, and 2.7% from Asia/Pacific. UBS has maintained a neutral rating on the company.
Global Payments is selling its medical software unit, AdvancedMD, to Francisco Partners for $1.13 billion as part of a strategy to streamline operations and focus on core payment processing. The company plans to use some proceeds for a $600 million accelerated stock buyback. AdvancedMD, acquired for $700 million in 2018, provides software services to healthcare facilities in the U.S. The deal is expected to close in the fourth quarter.
Francisco Partners has agreed to acquire AdvancedMD, a Utah-based medical office software provider, from Global Payments, Inc. The deal, with no disclosed financial terms, will see Amanda Sharp continue leading the company as CEO. The acquisition is expected to close in Q4 2024, enhancing AdvancedMD's focus on customer service.
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