Private Equity Amicas Buyout

Thomas Bravo Buys Health Care Firm Amicas for $217m

If there is one sign of life in private equity it is fittingly in the health care and medical technology industries.  Today it was announced that Amicas has agreed to an offer by private equity firm Thomas Bravo for $217 million.  According to Amicas’ CEO, the purchase by Thomas Bravo will give Amicas “additional capital and operational expertise” to expand.  Amicas is a producer of radiology, medical-imaging and information management products.  The firm’s stock has been steadily increasing in value in 2009 after a steep drop last year.  

The private-equity industry has been relatively quiet on the acquisition front, but deal activity has been picking up in recent weeks as stocks continue to move higher and credit markets ease.

Amicas Chairman and Chief Executive Stephen Kahane said Monday the buyout will provide the maker of radiology, medical-imaging and information-management products with “additional capital and operational expertise” that will help it to grow.

Thoma Bravo will pay $5.35 for each share, 21% above Thursday’s closing price. Shareholders still must approve the deal, which is expected to close in the first quarter.
Earlier this year, Amicas bought hospital technology company Emageon Inc. for about $39 million.

Amicas’ stock has risen steadily in 2009, more than doubling in value, as the company has reported strong growth and boosted expectations. Shares hit a seven-year low late last year. Source

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Tags: Amicas, Thomas Bravo, Amicas private equity funding, Amicas takeover, purchase, funding, financing, funds, management, Thomas Bravo Private Equity

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