Definitive Healthcare Corp

The special committee of Definitive Healthcare's board has confirmed receipt of a non-binding proposal from Advent International to acquire all outstanding shares of Class A common stock and Definitive OpCo Units not already owned by Advent or founder Jason Krantz, for $1.02 per share in cash. The special committee, composed of independent directors, will review the proposal with its advisors to determine the best course for the company and its stockholders. No action is required from stockholders at this time, and there is no assurance that a transaction will be pursued or completed. Rothschild & Co and Skadden, Arps are advising the special committee, while Evercore and Hogan Lovells Cadwalader are advising the company.

Definitive Healthcare shares rose 14% in premarket trading after private equity firm Advent International made a non-binding offer to acquire the company for $1.02 per share in an all-share deal. Advent, which already owns 62.5 million Class A shares representing nearly a 59% stake, values the SaaS provider at a 36% premium to its 60-day volume-weighted average price of $0.75 per share as of August 31. The transaction, not subject to financing conditions, will see founder and executive chairman Jason Krantz roll his equity into the new entity. Concurrently, Definitive Healthcare announced Clay Ritchey, former CEO of Verato, will become its next chief executive and board member effective September 8, succeeding Kevin Coop, who departed on August 31 after more than two years.

Definitive Healthcare Corp., a leader in healthcare market data and analytics, has appointed Clay Ritchey as its next Chief Executive Officer and a member of the Board of Directors, effective September 8, 2026. Ritchey, who brings over 25 years of healthcare expertise, succeeds Kevin Coop, who departed as CEO and board member on August 31, 2026, after serving since June 2024. Ritchey joins from Verato, a healthcare master data management company, where he was CEO, and has held senior roles at Evariant, Imprivata, Equinox Healthcare, Hill-Rom, and Kronos. Chairman Jason Krantz praised Ritchey's track record of driving profitable growth and his conviction that AI will reshape healthcare, positioning Definitive Healthcare as a leader in commercial intelligence. Ritchey expressed excitement about accelerating the company's return to growth, citing its proprietary datasets and upcoming AI-powered platform.