Francisco Partners to take health tech firm Weave private for $650m
Weave serves small and medium-sized healthcare businesses. The post Francisco Partners to take health tech firm Weave private for $650m appeared first on PE Hub .
Francisco Partners is set to acquire health tech firm Weave in a deal worth approximately $650 million. Weave provides an AI-powered patient engagement and payments platform for healthcare practices, serving over 40,000 locations. The company, founded in 2008 and based in Lehi, Utah, will become a private company and cease trading on the NYSE upon completion of the transaction.
Under the terms of the agreement, Weave stockholders will receive $7.40 per share in cash, representing a 34% premium to Weave's closing stock price on August 17, 2023, according to Investing.com. Weave's CEO, Brett White, stated that the deal will allow the company to enhance its AI platform and deepen its payments and revenue cycle management capabilities.
The Weave Board of Directors, led by Chair Stuart C. Harvey Jr., unanimously recommended the transaction, which they believe represents the best path forward for the company. The deal is expected to be completed soon, after which Weave will operate as a private company.
Brief written by urgent.news from PE Hub, Investing.com — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
