Thoma Bravo may soon acquire Nextgen Healthcare Inc

Nextgen Healthcare Inc (NASDAQ: NXGN) is trading up this morning following reports that Thoma Bravo is interested in buying the health records software company.

Official announcement will likely come later this week

Anonymous sources told Bloomberg today that the private equity firm is already in advanced talks to move ahead with the said acquisition.

Thoma Bravo could officially make the announcement that it’s buying Nextgen Healthcare in the coming days. But the prospect of a no deal after discussions remains on the table, they added.

The Nasdaq-listed firm had attracted interest from other buyout firms as well before it engaged in a formal dialogue with Thoma Bravo, as per the report on Tuesday.

Shares of Nextgen Healthcare have gained more than 25% in less than a month.

Thoma Bravo has been quite active in recent months  

The cloud company had told Reuters last month that it was considering a sale. Neither Thoma Bravo nor NextGen Healthcare, though, have so far had their representatives comment on the Bloomberg report.

In July, the Irvine-headquartered firm said its revenue went up just over 16% on a year-over-year basis in the fiscal first quarter. It then announced a strategic alliance on AI-enabled solution aimed at patient engagement with Luma Health.

Note that Thoma Bravo has been quite active this year. Most recently, it agreed to a $3.6 billion deal to unload Imperva – shortly after it sold Adenza as well to Nasdaq for more than $10 billion as Invezz reported here.

Wall Street currently has a consensus “overweight” rating on Nextgen Healthcare Inc.