Forian Inc. Announces Agreement to Go Private in $68 Million All-Cash Deal

Forian Inc., a provider of data analytics and information solutions, has entered into a definitive merger agreement to be acquired by a consortium of investors led by Chairman and CEO Max Wygod, along with other senior executives and existing stockholders. The all-cash transaction values the company's equity at approximately $68 million and will return Forian to private ownership. Under the agreement, stockholders will receive $2.17 per share in cash, representing a premium of approximately 22.6% to Forian's unaffected closing price as of August 22, 2025.

The transaction was unanimously approved by the Forian Board of Directors, acting upon the recommendation of a Special Committee of independent directors formed in response to the consortium's initial proposal. The Special Committee was advised by independent financial and legal advisors throughout the process. The deal is expected to close in the second quarter of 2026, subject to closing conditions including a minimum tender condition. The Board unanimously recommends that stockholders tender their shares. Upon closing, Forian's common stock will no longer be listed on the Nasdaq Stock Market or any public exchange.

Following the transaction, Forian will continue to be led by Max Wygod and the current leadership team. The company will maintain its headquarters in Newtown, Pennsylvania, and operate under the Forian name and brand. The consortium has secured committed funding for the cash consideration, and the transaction is not subject to a financing condition. This move allows Forian to operate without the quarterly reporting pressures and public market scrutiny associated with being a publicly traded company.

The importance of this transaction lies in its implications for shareholders, the company's strategic direction, and the broader market for healthcare data analytics. Shareholders receive an immediate cash premium for their investment, while the company gains flexibility to pursue long-term strategies away from public market expectations. Forian's expertise in healthcare data management positions it in a competitive industry where private ownership could facilitate more aggressive investment in technology and market expansion. The deal reflects ongoing consolidation and privatization trends in the technology and healthcare sectors, particularly among specialized data analytics firms.

Advisors involved in the transaction include Houlihan Lokey Capital, Inc., which served as independent financial advisor to the Special Committee, and law firms Potter Anderson & Corroon LLP and Miles & Stockbridge PC as independent legal counsel. Duane Morris LLP served as outside legal counsel to Forian, while Allen Overy Shearman Sterling US LLP, Abrams & Bayliss LLP, and Venable LLP advised the consortium. Additional information about the transaction will be available in regulatory filings with the Securities and Exchange Commission at https://www.sec.gov.