NextGen Healthcare, Inc. (NasdaqGS:NXGN) acquired TSI Healthcare, LLC for $90 million on November 30, 2022. Under the terms of the agreement, NextGen Healthcare paid upfront amount of $68 million in cash with contingent consideration of up to $22 million in cash in the form of an earnout, subject to achieving certain financial targets through March 31, 2025.

NextGen Healthcare, Inc. (NasdaqGS:NXGN) completed the acquisition of TSI Healthcare, LLC for $72.4 million on November 30, 2022. The preliminary purchase price is $50.5 million subject to customary working capital and other adjustments. Additionally, under the provisions of the securities purchase agreement, we may pay up to an additional $22 million of cash contingent consideration in the form of an earnout, subject to TSI achieving certain revenue targets through December 2024. The acquisition of TSI was funded by cash flows from operations and cash proceeds from our convertible senior notes.