Advent Offers $1.02 a Share to Take Definitive Healthcare (DH) Private
A special committee of independent directors confirmed a non-binding all-cash proposal from Advent International for all shares it does not already own.
The special committee of the board of Definitive Healthcare (DH) said on September 2, 2026 that it has received a non-binding indication of interest dated September 1, 2026 from Advent International, L.P., acting on behalf of certain managed funds, to take the healthcare data and analytics company private. Advent proposes to acquire all outstanding Class A common stock and all outstanding limited liability company interests of AIDH TopCo, LLC (the Definitive OpCo Units) that it does not already own, for $1.02 per share in cash and an equivalent amount per OpCo unit.
The proposal excludes shares already held by Advent and by Jason Krantz, the company's founder and Executive Chairman. That structure means the transaction would be a going-private deal led by an existing insider group rather than an open auction of the company.
The special committee is composed entirely of disinterested and independent directors and was formed specifically to act on a potential transaction with Advent or alternative thereto. It said it will review the proposal with its independent legal and financial advisors to determine the course of action it believes is in the best interests of the company and all stockholders.
No action is required by shareholders at this time. The committee explicitly cautioned investors that no decisions have been made on how it will respond, and that there can be no assurance that the company will pursue this transaction or any other strategic outcome, or that a deal would be approved or completed.
On advisors: Rothschild & Co is financial advisor to the special committee, with Skadden, Arps, Slate, Meagher & Flom as its legal counsel. Evercore is acting as financial advisor to the company itself, with Hogan Lovells and Cadwalader as legal counsel.
The disclosure lands the same day Definitive Healthcare announced the appointment of Clay Ritchey as CEO, and roughly three weeks after the Framingham, Massachusetts-based company reported second-quarter 2026 results on August 10. The company said it does not intend to disclose further developments on the proposal unless and until additional disclosure is deemed appropriate or necessary.
For shareholders, the key open question is whether the committee views $1.02 per share as adequate value, given that a controlling holder is on the buy side. Because the proposal is non-binding, the price and terms could change or the process could end without a transaction.
This is a factual summary of a public filing or press release, not investment advice. Verify all figures against the source before acting on them.
