AdvancedMD is excited to announce that it has entered a definitive agreement to be acquired by Francisco Partners (“FP”), a leading global technology investment firm that specializes in partnering with technology businesses.
AdvancedMD and FP are committed to continue building on the innovative solutions and outstanding support that AdvancedMD provides to each of its clients. The ambulatory care clinics that rely on AdvancedMD for their practice management, EHR, and patient engagement technology needs can expect further investments in innovation and product development. As we return to being a standalone company and platform, we expect to benefit from an enhanced singular focus on our customers, partners and employees.
Delivering cutting edge tools that enable private practices to lift revenue and reduce costs continues to be our top priority. There will not be any changes to your account, support, or implementations. We will continue to serve you and prioritize your technology needs the same as we always have.
Francisco Partners has deep expertise in the healthcare technology market and an extensive track record partnering with leading healthcare technology companies. In fact, Francisco Partners was a prior investor in AdvancedMD more than 15 years ago — a partnership that proved successful for all stakeholders and would set the business up for growth and innovation over the next several decades. We are excited to once again be part of Francisco Partners’ family of technology companies.
You can find more information about this announcement at: Francisco Partners to Acquire AdvancedMD from Global Payments.
About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch 25 years ago, Francisco Partners has invested in more than 450 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.
FAQs
Why is AdvancedMD being acquired?
In connection with the strategic review that Global Payments highlighted at its recent Investor Conference, the company identified certain vertical market technology businesses that would benefit from divestment from Global Payments. Francisco Partners will enable greater focus and investment behind AdvancedMD products and services.
What is the nature of the agreement?
Consistent with this shift in focus, Francisco Partners has reached a definitive agreement to acquire AdvancedMD from Global Payments. Francisco Partners is a technology focused investment firm that is well positioned to invest and support AdvancedMD over the long term.
Will Global Payments have any involvement with AdvancedMD moving forward?
Global Payments looks forward to continuing to support AdvancedMD through a multi-year integrated payments and commerce enablement partnership executed in connection with the transaction. Global Payments is appreciative to all the AdvancedMD team members for contributions to Global Payments and the company looks forward to continuing to work together through the integrated partnership going forward.
How did Global Payments reach the decision to sell AdvancedMD?
The decision to sell AdvancedMD is threefold:
- Healthcare is a bespoke market that requires meaningful investments in specific capabilities and compliance programs that cannot be amplified across Global Payments’ other businesses or geographies.
- There are extensive regulatory requirements in the healthcare vertical that add significant complexity in owning this business and would not allow Global Payments to integrate it fully into its new operating model.
- Post the TSYS merger, Global Payments has strong exposure to healthcare in its integrated and embedded business, increasing the potential for channel conflict with partners by owning the asset.
When will the transaction close?
We expect this transaction to close in the fourth quarter of 2024, subject to customary regulatory approvals.
Will additional information be made available?
We expect minimal near-term change to customers. Information pertaining to specifics on the integration plan will be provided when the deal closes.
Who can I contact with questions or concerns?
If you have any questions, please contact us at: [email protected].