Greenway Medical Technologies, Inc. (NYSE: GWAY) (the “Company” or “Greenway”) and Vista Equity Partners today announced the successful completion of the tender offer by Crestview Acquisition Corp., a wholly owned subsidiary of VCG Holdings, LLC and an affiliate of Vista Equity Partners Fund IV, L.P., for all of the outstanding shares of common stock of the Company at a price of $20.35 per share, net to the seller in cash without interest. The tender offer expired at 12:00 midnight, New York City time, on November 1, 2013. As of the expiration of the tender offer, approximately 91.3% of the outstanding shares of common stock of the Company were validly tendered and not withdrawn in the tender offer (not counting as validly tendered shares tendered through notice of guaranteed delivery and not actually delivered). All such shares have been accepted for payment in accordance with the terms of the tender offer. As a result of the tender offer, Crestview Acquisition Corp. now owns at least 90% of the outstanding shares of Greenway, which will allow Crestview Acquisition Corp. to complete and close the merger of Crestview Acquisition Corp. with and into Greenway without stockholder approval. Upon completion of the merger, which the parties anticipate will occur today, Greenway will become a wholly owned subsidiary of VCG Holdings, LLC. All outstanding shares of common stock of Greenway, other than shares held by VCG Holdings, LLC, Crestview Acquisition Corp., or Greenway and shares held by Greenway’s stockholders who are entitled to and properly demand and perfect appraisal of such shares pursuant to the applicable provisions of Delaware law, will be automatically cancelled and converted into the right to receive cash equal to the $20.35 offer price per share. In addition, the parties anticipate that the common stock of Greenway will cease to be traded on the NYSE after market close today following completion of the merger.
About GreenwayGreenway Medical Technologies, Inc., provides the clinical, financial and administrative solutions today’s healthcare providers need to proactively manage the delivery of quality care and achieve better health outcomes for patient populations. With an established marketplace presence dating back more than 30 years, Greenway continues to lead the way in health information technology by offering smarter solutions and services that help businesses compete in an evolving value-based healthcare system. Greenway’s clinically driven revenue cycle management ™ services and comprehensive suite of interoperable solutions improve financial performance and automate clinical and administrative workflows, so medical providers can spend time on patients instead of paperwork. More than 100,000 providers in more than specialties and sub-specialties partner with Greenway to improve outcomes across more than 13,000 medical organizations nationwide. For more information, visit www.greenwaymedical.com or call (866) 242-3805. Follow Greenway Medical Technologies on Facebook, Twitter and LinkedIn. About Vista Equity Partners Vista Equity Partners, a U.S.-based private equity firm with offices in San Francisco, Chicago and Austin, currently invests over $7.1 billion in capital committed to dynamic, successful technology-based organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For further information please visit www.vistaequitypartners.com. Forward-Looking Statements Statements in this press release that relate to future results and events are forward-looking statements made within the meaning of Section 21E of the Securities Exchange Act of 1934 based on Greenway’s current expectations regarding the proposed transaction. Actual results and events in future periods may differ materially from those expressed or implied by these forward-looking statements because of a number of risks, uncertainties and other factors. There can be no assurances that a transaction will be consummated. Other risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; that the transaction may not be timely completed, if at all; that, prior to the completion of the transaction, if at all, Greenway’s business may experience significant disruptions due to transaction-related uncertainty or other factors that the parties are unable to successfully implement integration strategies; and other risks that are described in Greenway’s Annual Report on Form 10-K for the fiscal year ended June 30, 2013 and in its subsequently filed SEC reports. Greenway does not undertake any obligation to update these forward-looking statements except to the extent otherwise required by law.
Greenway and the Greenway logo are registered trademarks and the phrase “clinically driven revenue cycle management” is a trademark of Greenway Medical Technologies, Inc. Other marks are the property of their respective owners.