Francisco Partners (FP), a global investment firm with a strong track record in the technology industry, has announced a definitive agreement to acquire AdvancedMD from Global Payments. Founded in 1999, AdvancedMD offers a comprehensive cloud-based medical office software platform that supports healthcare practices with integrated tools for practice management, electronic health records, patient engagement, and payments. This acquisition will allow AdvancedMD to continue enhancing its technology platform, helping thousands of healthcare providers streamline operations, increase patient engagement, and improve outcomes. Amanda Sharp, current President of AdvancedMD, will assume the role of Chief Executive Officer and is enthusiastic about the collaboration with FP, highlighting the alignment with the company's mission to empower healthcare professionals.
Francisco Partners, with over 450 technology investments to its name, brings extensive experience in healthcare technology and corporate carve-outs. This acquisition represents a return of AdvancedMD to the FP portfolio, where FP previously invested in its growth. Global Payments, a global leader in payment technology and services, will maintain a partnership with AdvancedMD to ensure ongoing payment processing capabilities, facilitating a smooth transition. Financial and legal advisory roles for this transaction are held by Moelis & Company and Kirkland & Ellis for Francisco Partners, and Bank of America and Wachtell, Lipton, Rosen & Katz for Global Payments. The acquisition is projected to close by the fourth quarter of 2024, pending customary conditions.
