Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Vista Equity Buys Sage Software Healthcare for $320 Million

Sept. 22 (Bloomberg) -- Vista Equity Partners, a private-equity firm focused on enterprise software and technology businesses, agreed to buy Sage Group Plc’s U.S. healthcare division.

The sale of Sage Software Healthcare, which offers practice management and electronic health-record offerings, is expected to be completed in November, the U.K. company said in a statement. Sage will make a loss of up to 70 million pounds ($108.4 million) through the sale and redistribute cash proceeds of $320 million to shareholders by buying back shares.

Vista Equity, based in San Francisco, has about $5 billion invested in technology companies including library software maker SirsiDynix. The company aims to generate “exceptional returns” and only makes a limited number of investments per year, according to Vista Equity’s Website. Sage said the disposal will help the company to focus on its other U.S. activities.

“The sale of Sage Healthcare allows management in the North American region to focus on the considerable opportunities that exist within our core U.S. customer base,” Guy Berruyer, chief executive officer of Newcastle Upon Tyne, England-based Sage, said in the statement.

Sage’s Healthcare unit had sales of 72 million pounds in the six months through March 2011.

Sage dropped 2.5 percent to 258.6 pence in London trading as of 9:05 a.m.

To contact the reporter on this story: Katie Linsell in London at Klinsell@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.