Forian (NASDAQ:FORA), a prominent provider of healthcare data analytics and information solutions, announced today that it has entered into a definitive merger agreement to be acquired by a consortium of investors led by its own Chairman and CEO, Max Wygod.
The all-cash transaction values the company’s equity at approximately $68 million.
Under the terms of the agreement, Forian stockholders (excluding members of the purchasing consortium) will receive $2.17 per share in cash.
This price represents a 22.6% premium over the company’s unaffected closing price on August 22, 2025, the date prior to the initial proposal.
The deal effectively returns the Newtown, Pennsylvania-based firm to private ownership.
The buying consortium includes senior executives and existing stockholders who have already secured the necessary funding, ensuring the transaction is not subject to a financing condition.
The move follows a strategic review by a Special Committee of independent directors, which was formed in August 2025 to evaluate the Consortium's non-binding proposal.
The Forian Board of Directors has unanimously recommended that stockholders tender their shares, citing the deal as the best path forward for realizing immediate liquidity and value.
The transaction is expected to close in the second quarter of 2026, pending the satisfaction of the minimum tender condition and other customary closing requirements.
Upon completion, Forian’s common stock will be delisted from the Nasdaq Stock Market.