For the Sixth Time, Utah-based AdvancedMD is Getting Bought Again, this Time for $1.1 Billion

Some 25 years after its founding, South Jordan, Utah-based AdvancedMD is changing hands in a $1.1 billion transaction as it's being acquired, again, by leading private equity firm, San Francisco, California-based Francisco Partners from Global Payments (NYSE:GPN).

Launched in 1999 with a client/server software application targeting small medical practices, the company rebranded in 2000 as AdvancedMD when it launched the world's first Web-based billing and practice management solution for small medical practices.

Today, AdvancedMD serves over 60,000 medical professionals in 10,000-plus offices, as well as more than 825 medical billing companies.

Along the way, AdvancedMD was

• Acquired by Francisco Partners in 2008,
• Sold to ADP in 2011,
• Acquired by PhyLogic Healthcare RCM in 2012,
• Sold to Marlin Equity Partners in 2015, and
• Acquired by Atlanta, Georgia-based Global Payments for $700 million in 2018.

According to the Francisco Partners news release announcing the acquisition,

"AdvancedMD’s end-to-end platform delivers an integrated user experience for patients, physicians, staff and billers, and is well-positioned to ensure its customers’ success."

According to its website, AdvancedMD employs over 700 people today.

The acquisition is slated to close before the end of 2024, "... subject to the satisfaction of customary closing conditions."

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