Definitive Healthcare Corp. shares surged 13% on Wednesday after Advent International submitted a non-binding cash bid to acquire the company for $1.02 per share.
The proposed purchase price represents a 36% premium over Definitive Healthcare's 60-day volume-weighted average daily trading price of $0.75 per share as of August 31, 2026. The offer applies to all outstanding Class A common stock and Definitive OpCo Units not already held by Advent or Executive Chairman Jason Krantz. Advent stated the proposal is not subject to financing conditions.
In a September 1, 2026 letter, Advent specified the bid is contingent on Krantz rolling over his Class A Common Stock and Definitive OpCo Units into equity of the surviving company. The offer also requires approval from a Special Committee of disinterested and independent directors, who may seek guidance from independent legal and financial advisors.
The announcement follows the appointment of Clay Ritchey as Definitive Healthcare's next Chief Executive Officer, effective September 8, 2026. Ritchey replaces Kevin Coop, who departed as CEO and board member on August 31, 2026, after serving in the role since June 2024.
