Private equity giant Francisco Partners announced plans to acquire AdvancedMD, a leading medical software provider, from Global Payments in a deal valued at $1.125 billion. Expected to close this quarter, the acquisition aims to position AdvancedMD as an independent business with accelerated investment and growth potential.

Key Details:

. Transaction Details: Francisco Partners will purchase AdvancedMD from Global Payments, which originally acquired the company in 2018 for $700 million from Marlin Equity Partners.

. Growth Potential: With a workforce of 800, AdvancedMD serves over 40,000 practitioners across 13,000 practices and partners with 850 medical billing companies. The cloud-native platform provides comprehensive solutions, including practice management, electronic health records, patient engagement, and payment processing tailored to small- to medium-sized physician practices.

. Leadership Transition: Amanda Sharp, a longstanding team member who started as an intern 18 years ago, will take on the role of CEO. Sharp expressed enthusiasm for the acquisition, citing opportunities to enhance AdvancedMD’s product portfolio and expand its commitment to clients and employees.

Statements from Leadership:

– Amanda S., Incoming CEO of AdvancedMD: “Our mission at AdvancedMD is to empower healthcare professionals to realize their full potential. This acquisition aligns with our goal of meeting evolving client needs, broadening our product offerings, and investing further in our people and technology.”

– Justin Chen, Partner at Francisco Partners: “We are thrilled to welcome AdvancedMD back to our portfolio. The company’s end-to-end platform and robust ecosystem are well-positioned for success, and we look forward to supporting AdvancedMD’s continued growth.”

Francisco Partners’ Background in Health Tech: With over 450 technology investments, Francisco Partners has substantial experience in healthcare technology. Its current and past investments include prominent companies such as Availity, GoodRx, and Zocdoc, demonstrating its capability to nurture tech-driven healthcare enterprises.

Advisors: Moelis & Company LLC and Kirkland & Ellis LLP are advising Francisco Partners, while Bank of America and Wachtell, Lipton, Rosen & Katz advise Global Payments.

This acquisition underscores Francisco Partners’ strategic focus on healthcare technology and sets the stage for AdvancedMD to scale its impact in medical software solutions.