Thomas H. Lee to Take Agiliti Private in $2.5B Healthcare Tech Deal 

Thomas H. Lee Partners (THL) is taking medical equipment management solutions provider Agiliti private in a $2.5 billion all-cash transaction.   

THL will pay $10 per share for all outstanding Agiliti stock. 

“We are pleased to expand our five-year partnership with THL in a transaction that provides immediate value and liquidity to our shareholders, while lifting certain overhangs that had limited our performance in the public market since the time of our IPO,” said Agiliti CEO Tom Leonard 

The Agiliti board approved the transaction, with a purchase price that represents a premia of about 39% and 43% over Agiliti’s 30-day and 90-day volume-weighted average price per share, respectively, as of February 23. 

The transaction is expected to close in the first half of 2024. 

In 2022, Boston-based THL Partners closed its most recent  fund, Thomas H. Lee Equity Fund IX, at a hard cap of $5.6 billion. Since the launch of its flagship fund in 1984, the firm, has raised more than $35 billion in equity. It invests in middle-market firms in healthcare, financial technology and services, as well as technology and business solutions.