The Private Equity and Healthcare teams advised Frazier Healthcare Partners (Frazier) in its definitive agreement to purchase MedData from MEDNAX, Inc.
Frazier is a leading provider of private equity capital to healthcare companies. With more than $4.2 billion total capital raised, Frazier has invested in more than 170 companies with investment type ranging from the company creation and venture capital to buyouts of profitable lower-middle-market companies. MedData provides technology-enabled management services for hospitals, health systems and healthcare providers. MEDNAX is a national health solutions partner comprised of physician services providers.
Under the terms of the purchase agreement, MEDNAX will receive cash consideration of approximately $250 million at closing, as well as economic consideration of up to $50 million that is contingent on both short- and long-term performance of MedData. In connection with the transaction, MEDNAX has entered into a long-term services agreement with MedData, effective as of the closing, and will be one of MedData’s largest customers following the closing of the transaction.
The Goodwin team was led by partners Chris Nugent, Jared Spitalnick and Michael Miller, and associate Matthew Cognetti (corporate, Private Equity), and included partners Jennifer Bralower and Nick Caro (Debt Finance) and Roger Cohen (Healthcare Regulatory).
For more details on the agreement, read the press release.