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Investor Relations
703.742.5393
InvestorRelations@quadramed.com

 

Reston, VA — December 8, 2009 —

(RTTNews) - QuadraMed Corp. (QDHC) announced that it has entered into a definitive merger agreement to be acquired by Francisco Partners, a private equity firms. As per the terms of the agreement, Francisco Partners has agreed to acquire all of the outstanding shares of QuadraMed's common stock for $8.50 per share in cash and all of the outstanding shares of QuadraMed's Series A Cumulative Mandatory Convertible Preferred Stock for $13.7097 per share in cash. The all-cash transaction is valued at about $126 million.

The proposed purchase price per share of common stock represents a premium of about 32.6% to the closing share price of QuadraMed's common stock on December 7, 2009, the last trading day prior to the public announcement of the transaction. QuadraMed's Board approved the merger agreement and has recommended that QuadraMed's stockholders vote to approve the merger.

The company said that there is no financing condition to the transaction, but Wells Fargo Foothill, part of Wells Fargo & Company (WFC), and Silicon Valley Bank have committed to provide debt financing for the transaction. The Company anticipates a stockholder meeting in the first quarter of 2010, with closing to follow shortly thereafter.

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