One Equity Partners to acquire M*Modal for $1.1B
One Equity Partners, the private investment arm of JP Morgan Chase, will acquire all of the outstanding shares of clinical documentation services provider M*Modal.
Under the terms of the agreement, which was unanimously approved by Franklin, Tenn.-based M*Modal’s board of directors, M*Modal shareholders will receive $14.00 in cash for each outstanding share of M*Modal common stock they own. This represents an 8.3 percent premium over the last full day of trading before the announcement and the total transaction is valued at approximately $1.1 billion.
The deal is expected to close during the third quarter of 2012.
Under the terms of the agreement, which was unanimously approved by Franklin, Tenn.-based M*Modal’s board of directors, M*Modal shareholders will receive $14.00 in cash for each outstanding share of M*Modal common stock they own. This represents an 8.3 percent premium over the last full day of trading before the announcement and the total transaction is valued at approximately $1.1 billion.
The deal is expected to close during the third quarter of 2012.
Evan Godt, Writer
Evan joined TriMed in 2011, writing primarily for Health Imaging. Prior to diving into medical journalism, Evan worked for the Nine Network of Public Media in St. Louis. He also has worked in public relations and education. Evan studied journalism at the University of Missouri, with an emphasis on broadcast media.