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Vista Equity Partners will take revenue management company Model N private for $1.25 billion. 

Why it matters: This could open the floodgates for private equity-led dealmaking in health care IT.

Zoom in: Vista will acquire all outstanding shares of Model N common stock for $30 per share. 

 The all-cash transaction is expected to close in mid-2024.

Between the lines: Revenue optimization and management companies are lucrative investments for private equity, as most health systems outsource debt collection and other revenue functions.

RCM providers bill themselves as more efficient than in-house collections operations, investing heavily in updated tech stacks and leading to spiking demand from hospitals. 

What we're watching: In March, publicly-traded R1 RCM told its two biggest shareholders to end talks on a potential take-private buyout. This deal could change that thinking.

Vista takes Model N private for $1.25B

The deal could open floodgates for private equity-led M&A in health care IT

Illustrated collage of a hundred dollar bill with a red cross and various shapes

Health tech deals

Vista Equity Partners will take revenue management company Model N private for $1.25 billion. Why it matters: This could open the floodgates for private equity-led <a class="gtmContentClick" data-vars-link-text="dealmaking in health care IT." data-vars-click-url="https://www.axios.com/pro/health-tech-deals/2024/04/02/pe-to-increase-hcit-deals-activity" data-vars-content-id="1ca4617a-75c9-4987-8f6a-c613da3bc203" data-vars-headline="Vista takes Model N private for $1.25B" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/health-tech-deals/2024/04/02/pe-to-increase-hcit-deals-activity" target="_self">dealmaking in health care IT.</a>

Vista takes Model N private for $1.25B

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