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One Equity Partners Buys M*Modal For $1.1B

[Techtaffy Newsdesk]

M*Modal, a provider of clinical documentation services solutions, and One Equity Partners have entered into a definitive agreement pursuant to which One Equity Partners, the private investment arm of JP Morgan Chase, will acquire all of the outstanding shares of M*Modal for $14.00 per share in an all-cash transaction. The transaction is valued at approximately $1.1 billion.

The deal is expected to close during the third quarter of 2012.

Investment funds affiliated with S.A.C. Private Capital Group ( S.A.C. PCG), collectively M*Modal’s largest shareholder owning approximately 31% of M*Modal’s outstanding shares in the aggregate, have agreed to tender their shares into the offer and to support the transaction. S.A.C. PCG is a private equity firm managed by the founders of Siris Capital Group.

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