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Greenway Officially Goes Private

November 4, 2013
by Gabriel Perna
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Greenway Medical Technologies, a Carrollton, Ga.-based provider of electronic health record (EHR) software, will no longer be a publicly traded company, as it has officially been acquired by Vista Equity Partners, a San Francisco-based private equity firm.

On Nov. 1, 2013, approximately 91.3 percent of the outstanding shares of Greenway’s common stock were validly tendered and not withdrawn in the tender offer. This means Crestview Acquisition Corp., a wholly owned subsidiary of VCG Holdings, LLC and an affiliate of Vista Equity Partners Fund IV, L.P., owns those shares.

Greenway will become a wholly owned subsidiary of VCG Holdings, LLC. And outstanding shares of its stock, outside of the shares owned by Greenway, will be automatically cancelled and converted into the right to receive cash equal to the $20.35 offer price per share. As of 4 pm today, the common stock of Greenway will no long be traded on the NYSE.

Vista Equity Partners is the owner of the Tampa -based electronic health record (EHR) and practice management software provider, Vitera Healthcare Solutions, and announced it will combine the two companies upon completion of the merger. They will use the Greenway name. Tee Green, Greenway’s CEO, will maintain that position. Vitera’s CEO, Matthew J. Hawkins, will serve as President. Both will serve on Greenway’s board of directors.

“Today, we begin the process of integrating our two organizations and operating them as a single entity that will have a laser-like focus on advancing the electronification of our nation’s healthcare system, allowing our customers to more effectively engage with increasingly active healthcare consumers,” said Green in a statement. “With our large and diverse provider base, we are well positioned to have a marked impact on improving both clinical and financial outcomes for patients, payers and providers.”

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