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

Credit: REUTERS/Kacper Pempel

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;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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