Madison Dearborn Partners (MDP), a prominent private equity firm in Chicago, has announced a partnership with Thoma Bravo to acquire a significant stake in NextGen Healthcare, a provider of healthcare technology and data solutions. Thoma Bravo will maintain a substantial ownership interest in the company, and the collaboration aims to support NextGen Healthcare's growth trajectory.

NextGen Healthcare, established in 1974, specializes in Electronic Health Record (EHR) and Practice Management software, enabling healthcare providers to enhance patient care and operational efficiency. Since Thoma Bravo's acquisition of NextGen in 2023, the firm has focused on modernizing the company’s capabilities and improving its operational structure, resulting in organic growth and enhanced profit margins.

David Sides, CEO of NextGen Healthcare, expressed enthusiasm about the partnership, emphasizing the shared vision of achieving better healthcare outcomes. He believes that combining MDP's healthcare expertise with Thoma Bravo's software operational skills will expedite the delivery of transformative solutions in the ambulatory healthcare sector.

Srinivas Velamoor, President and COO of NextGen Healthcare, highlighted the potential for growth through AI-driven capabilities, aiming to improve both provider and patient experiences. Jason Shideler, Partner at MDP, noted NextGen's success in providing innovative software solutions that enhance patient care across the nation.

A.J. Rohde, a Senior Partner at Thoma Bravo, reflected on the fruitful collaboration with NextGen's management team, expressing excitement about future innovations and opportunities. Peter Hernandez, a Senior Vice President at Thoma Bravo, praised the progress made since their initial investment, emphasizing the commitment to driving growth and exceptional outcomes for healthcare providers and patients.

The acquisition deal is pending regulatory approvals and is expected to finalize in the second quarter of 2025. Legal counsel for NextGen Healthcare and Thoma Bravo is provided by Goodwin Procter LLP, while Kirkland & Ellis, LLP represents MDP.

NextGen Healthcare is dedicated to reimagining ambulatory healthcare through its award-winning EHR and practice management solutions, aiming to enhance clinical quality and patient experiences. Madison Dearborn Partners has raised over $31 billion since its inception in 1992, completing more than 160 platform investments, and continues to focus on impactful investments in the healthcare sector.