By Milana Vinn
(Reuters) – Private equity firm THL Partners is exploring a sale of Nextech Systems LLC that could value the provider of healthcare software at around $1.5 billion, according to people familiar with the matter.
THL is working with investment bank William Blair on a sale process for Nextech that has attracted other private equity firms and is at an advanced stage, the sources said. THL may choose to retain a minority stake in any deal, the sources added.
Nextech generates around $100 million in annual revenue and about $50 million in 12-month earnings before interest, taxes, depreciation and amortization, the sources said.
THL Partners, Nextech and William Blair did not respond to requests for comment.
Based in Tampa, Florida, Nextech provides software solutions for electronic medical record tracking, healthcare payments and practice management.
THL acquired Nextech in 2019 from Francisco Partners, another buyout firm, for more than $500 million.
(Reporting by Milana Vinn in New York; Editing by Matthew Lewis)
