Greenway Officially Goes Private | Healthcare Informatics Magazine | Health IT | Information Technology Skip to content Skip to navigation

Greenway Officially Goes Private

November 4, 2013
by Gabriel Perna
| Reprints

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1, 2013, approximately 91.3 percent of the outstanding shares of Greenway’s common stock were validly tendered and not withdrawn in the tender offer.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.”

Topics

News

NewYork-Presbyterian, Walgreens Partner on Telemedicine Initiative

NewYork-Presbyterian and Walgreens are collaborating to bring expanded access to NewYork-Presbyterian’s healthcare through new telemedicine services, the two organizations announced this week.

ONC Releases Patient Demographic Data Quality Framework

The Office of the National Coordinator for Health IT (ONC) developed a framework to help health systems, large practices, health information exchanges and payers to improve their patient demographic data quality.

AMIA, Pew Urge Congress to Ensure ONC has Funding to Implement Cures Provisions

The Pew Charitable Trusts and the American Medical Informatics Association (AMIA) have sent a letter to congressional appropriators urging them to ensure that ONC has adequate funding to implement certain 21st Century Cures Act provisions.

Former Michigan Governor to Serve as Chair of DRIVE Health

Former Michigan Governor John Engler will serve as chair of the DRIVE Health Initiative, a campaign aimed at accelerating the U.S. health system's transition to value-based care.

NJ Medical Group Launches Statewide HIE, OneHealth New Jersey

The Medical Society of New Jersey (MSNJ) recently launched OneHealth New Jersey, a statewide health information exchange (HIE) that is now live.

Survey: 70% of Providers Using Off-Premises Computing for Some Applications

A survey conducted by KLAS Research found that 70 percent of healthcare organizations have moved at least some applications or IT infrastructure off-premises.