(Reuters) – European buyout group Nordic Capital has agreed to acquire a majority stake in U.S. healthcare software company ArisGlobal LLC, the Wall Street Journal reported on Sunday, citing a person familiar with the matter.
The deal values ArisGlobal at $700 million (£556.6 million) including debt, and comes as Nordic Capital plans to establish its first U.S. office in the autumn in New York and increase its investments in the U.S. healthcare sector, the Journal reported https://on.wsj.com/2IlLbW3.
ArisGlobal Chief Executive Sankesh Abbhi will stay at the company in his current role after the deal, according to the report, which added that Abbhi and his family would retain a minority stake in ArisGlobal.
Nordic Capital and ArisGlobal did not respond to a Reuters request for comment on Sunday.
(Reporting by Kanishka Singh in Bengaluru; Editing by Peter Cooney)