Healthcare tech Agiliti to be taken private in $2.5 bln deal (updated)

Agiliti

26/02/2024 15:16

(Adds details and background about the company throughout)
       Feb 26 (Reuters) - Agiliti  AGTI.N  said on Monday it
had agreed to be taken private by its majority owner THL
Partners in a deal that values the medical inventory management
services provider at $2.5 billion, less than three years after
its market debut. 
    The company helps customers, which include more than 10,000
hospitals, surgery centers and skilled nursing facilities, rein
in costs by preventing them from buying and renting duplicate
equipment as well as reducing underutilization. 
    A unit of THL will pay $10 in cash for each share of
Agiliti, representing a premium of 31% to the stock's last
close. Agiliti's shares rose 29% in early trading. 
    The company went public in April 2021. Ahead of the deal
announcement, THL's stake in Agiliti was about 73%, according to
LSEG data.
    The deal is expected to close in the first half of 2024, the
company said. 
    Centerview Partners LLC is Agiliti's financial adviser,
while Goldman Sachs advised THL. 

 (Reporting by Bhanvi Satija in Bengaluru; Editing by Sriraj
Kalluvila)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))