Daily News: September 17, 2012

Mediware Enters Into Merger Agreement With Thoma Bravo


Mediware Information Systems, Inc., a provider of clinical software solutions, today announced it has entered into a definitive merger agreement to be acquired by private equity investment firm Thoma Bravo in a transaction valued at approximately $195 million. Under the terms of the agreement, pending shareholder approval, Mediware shareholders will receive $22.00 in cash for each share of Mediware common stock. This represents an approximately 40% premium over the company’s most recent closing price.

“Mediware has sustained consistent revenue and earnings growth over the past five years by focusing on effectively expanding its product portfolios to new areas of care,” said Thomas Mann, Mediware’s president and chief executive officer. “The acquisition by Thoma Bravo recognizes this performance and validates our belief that Mediware is positioned for continued growth and profitability in the future. We look forward to continued investments in our products and people, and to working with Thoma Bravo as we expand our leadership role in healthcare technology.”

“Mediware’s reputation as a best-in-class provider of software systems that enhance healthcare organizations’ ability to provide excellent, yet cost-effective care, is well-deserved,” said Thoma Bravo managing partner Scott Crabill. “We see strong growth potential as more and more organizations seek technology solutions to improve the management of their clinical, regulatory and financial operations.”

“Thoma Bravo is excited to partner with Mediware’s existing management team to continue to expand the company’s leadership position in the markets it serves,” added Seth Boro, partner at Thoma Bravo. “We look forward to building on the company’s reputation for first-class products, strategic acquisitions, and strong customer service.”

The transaction is subject to customary closing conditions, including requisite regulatory approvals and the approval of Mediware shareholders. The Mediware board of directors has unanimously approved the agreement and recommends that Mediware’s shareholders approve the transaction. The transaction is not subject to a financing condition. Mediware expects the transaction to close before December 31, 2012. At closing, Thoma Bravo will acquire 100% of Mediware’s outstanding shares.

William Blair & Company served as exclusive financial advisor to Mediware and provided a fairness opinion to the company’s board of directors. Herrick, Feinstein provided legal counsel to Mediware. Kirkland & Ellis provided legal counsel to Thoma Bravo.