NextGen Healthcare signed a definitive agreement to acquire TSI Healthcare, a privately held value-added reseller located in Chapel Hill, NC. The acquisition will expand NextGen’s presence in specialties including rheumatology, pulmonology and cardiology, reports HIT Consultant.
Under terms of the agreement, the acquisition comprised of an upfront amount of $68M, which will be paid in cash with contingent consideration of up to $22 million in cash in the form of an earnout, subject to achieving certain financial targets through March 31, 2025. The acquisition is expected to contribute approximately $10 to 12 million of revenue in the remaining four months of fiscal 2023 and will be accretive to adjusted EBITDA and cash flow within a year. Read more.
