Kirkland & Ellis LLP is representing Francisco Partners in a recently announced agreement to acquire medical payments provider AdvancedMD from Global Payments for $1.125 billion. The deal, disclosed Wednesday, is set to conclude in the fourth quarter of the year.
Francisco Partners Expands Portfolio with AdvancedMD Acquisition
Francisco Partners, a San Francisco-based private equity firm with a strong focus on technology investments, has previously invested in over 450 tech-focused companies, including AdvancedMD. Moelis & Company served as Francisco’s financial adviser on the transaction, reinforcing the firm’s commitment to expanding its technology investments.
Ezra Perlman, co-president of Francisco Partners, expressed enthusiasm for the acquisition, stating, “We had the privilege of investing in AdvancedMD years ago, and it’s been remarkable to see the consistent long-term track record of growth and innovation since.” Perlman praised Global Payments for its stewardship of AdvancedMD, noting, “We appreciate all Global Payments has done to drive growth and innovation in this business and are confident that our acquisition will help AdvancedMD build on its strong foundation of success.”
AdvancedMD Leadership and Vision Under Francisco Partners
AdvancedMD operates a comprehensive payments platform serving patients, physicians, staff, and billers. With the acquisition, the current leadership team will remain in place, with President Amanda Sharp stepping into the additional role of CEO. Sharp emphasized the company’s mission, stating, “Our mission at AdvancedMD is to empower healthcare professionals to realize their full potential. This acquisition positions our business to meet the evolving needs of our clients, expand the product portfolio and continue to invest in the business and our team members.”
