Mediware and Thoma Bravo Complete Merger
09 November 2012 - 9:35PM
Mediware Information Systems, Inc. (Nasdaq:MEDW), a leading
provider of clinical software solutions, announced that the
Company's stockholders have approved and adopted a previously
announced merger agreement providing for the acquisition of
Mediware by an affiliate of Thoma Bravo, LLC, a leading private
equity firm. The transaction is valued at approximately $195
million and was completed today.
"We are pleased with the outcome of today's stockholder vote and
believe that the transaction with Thoma Bravo is in the best
interests of our stockholders as well as the long-term future of
the Company," said Thomas Mann, Mediware's president and chief
executive officer. "The acquisition price provides our stockholders
an attractive premium on their investments. And, through Thoma
Bravo, Mediware has access to additional resources that will help
us continue the growth we have experienced over the past five
years. We expect a seamless transition process and look forward to
partnering with Thoma Bravo."
"Mediware is an accomplished company providing best-in-class and
cost effective software systems for the healthcare community," said
Scott Crabill, a managing partner at Thoma Bravo. "Thoma Bravo has
a proven track record working with existing management and growing
companies through its buy and build strategy. This acquisition
marks the 26th platform company investment for Thoma Bravo in the
software industry."
"Thoma Bravo is excited to partner with Mediware's
existing management team to expand the company's leadership
position in the markets it serves," said Seth Boro, a partner at
Thoma Bravo. "Mediware is uniquely positioned for growth, and we
look forward to building on the company's reputation for
first-class products, strategic acquisitions, and strong customer
service."
Under the terms of the merger agreement, Mediware stockholders
will receive $22 in cash for each share of Mediware
common stock held. Letters of transmittal allowing Mediware
stockholders of record to deliver their shares to the paying agent
in exchange for payment of the merger consideration will be
distributed promptly. Stockholders who hold shares through a bank
or broker will not have to take any action to have their shares
converted into cash, as such conversions will be handled by the
bank or broker.
With the closing of the transaction, Mediware's common shares
will cease to trade on NASDAQ at market close today and will be
delisted.
William Blair & Company, L.L.C. served as exclusive
financial advisor to Mediware and provided a fairness opinion to
the Company's board of directors. Herrick, Feinstein LLP provided
legal counsel to Mediware. Kirkland & Ellis LLP provided legal
counsel to Thoma Bravo, LLC.
About Mediware
Mediware delivers interoperable, best-of-breed software systems
that improve efficiencies and address safety concerns, enabling
healthcare organizations to improve care processes while decreasing
costs. Core Mediware solutions include blood management
technologies for hospitals and blood centers; cell therapy
solutions for cord blood banks, cancer treatment centers and
research facilities; medication management solutions for hospitals,
behavioral health facilities, infusion and specialty pharmacy
providers; and business intelligence-based performance management
solutions for clinical, regulatory and financial aspects of the
broader healthcare market. For more information about Mediware
products and services, visit our website at www.mediware.com.
The Mediware Information Systems, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5249
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm building
on a 30+ year history of providing equity and strategic support to
experienced management teams and growing companies. The firm has
continued to apply the concept of industry consolidation investing,
which seeks to create value through the strategic use of
acquisitions to accelerate business growth. Thoma Bravo invests
across multiple industries, with a particular focus in enterprise
and infrastructure software and financial and business services,
and works in partnership with management to implement its operating
and consolidation expertise to build long-term value. The firm
currently manages a series of private equity funds representing
almost $4 billion of equity commitments. In software, Thoma
Bravo has completed 54 add-on acquisitions across 26 platform
companies with total annual earnings of approximately $1
billion. For more information, visit www.thomabravo.com.
Certain statements in this press release may constitute
"forward-looking" statements within the meaning of the Private
Securities Litigation Reform Act of 1995, as the same may be
amended from time to time (the "Act") and are intended to be
covered by the safe harbor created thereby. Such forward-looking
statements are not necessarily based on historical facts and
involve known and unknown risks, uncertainties and other factors
which may cause the actual results of Mediware to be materially
different from any future results expressed or implied by such
forward looking statements. These risks and uncertainties include
but are not limited to those disclosed in Mediware's Annual Reports
on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K. Mediware does not intend to, and undertakes no obligation
to, update forward-looking statements to reflect changed
assumptions, the occurrence of unanticipated events or changes in
future operating results, financial condition or business over
time. Mediware regularly posts important information to the
investor relations section of its website.
CONTACT: Mediware Media Relations Contact:
John Van Blaricum
Mediware
913.307.1070
John.VanBlaricum@mediware.com
Thoma Bravo Media Relations Contact:
Amber Roberts
LANE PR
212.302.5964
Amber@lanepr.com
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