(Reuters) – CompuGroup Medical, a German healthcare software provider, said on Sunday it was in advanced talks to be acquired by CVC Capital Partners for a potential 22 euros ($23.24) per share.
The deal has a value of 1.14 billion euros, based on CompuGroup’s 51.7 million outstanding shares, according to Reuters calculations. The share closed on Friday at 16 euros.
CompuGroup shareholders around the founding Gotthardt family would retain an approximately 50.1% stake after a strategic partnership with CVC, a private equity firm, is established, CompuGroup said in a statement.
CompuGroup’s shares would later be delisted, it added.
Bloomberg News reported on the talks earlier on Sunday.
Shares of CompuGroup fell to their lowest level in a decade after the company, whose software is used to manage patient data, cut guidance for the 2024 fiscal year in July. The stock is down more than 55% year to date.
CompuGroup, based in Koblenz, Germany, posted revenues of EUR 283.4 million in the third quarter.
($1 = 0.9466 euros)
(Reporting by Disha Mishra in Bengaluru and Urvi Dugar; Editing by Lisa Shumaker and Richard Chang)
