Chapel Hill-based TSI Healthcare is sold in deal worth up to $90M

CHAPEL HILL – TSI Healthcare, a provider of various tech services for physician practices, has been sold to publicly traded NextGen Healthcare in a deal worth as much as $90 million.

TSI already is a reseller of NextGen (Nasdaq: NXGN) services and has been for 16 years, the companies noted.

TSI is privately held.

NextGen paid $68 million upfront, and another $22 million is possible for earnout payments, according to the announcement.

“TSI Healthcare has been part of the NextGen Healthcare family over 16 years, developing specialty specific solutions exclusively on NextGen Healthcare’s platform,” said David Dickson, Jr., president and chief executive officer of TSI Healthcare, in a statement. “We’re excited to extend our services expertise with NextGen Healthcare’s product and services leadership to further solidify NextGen Healthcare as among the most trusted names in ambulatory healthcare.”