Forian Inc. (Nasdaq: FORA), a provider of data analytics and information solutions for healthcare and financial services, announced today that it has entered into a definitive merger agreement to be acquired by a consortium led by Chairman and CEO Max Wygod, along with other senior executives and existing stockholders. The all-cash transaction values Forian's equity at approximately $68 million and will result in the company becoming privately held.
Under the terms of the agreement, Forian stockholders—excluding shares held by consortium members and affiliates—will receive $2.17 per share in cash. This price represents a premium of about 22.6% over Forian's unaffected closing price as of August 22, 2025. The consortium has secured committed funding to pay the cash consideration, and the transaction is not subject to a financing condition.
The transaction was unanimously approved by Forian's Board of Directors, following the recommendation of a Special Committee of disinterested independent directors. The Special Committee was formed on August 25, 2025, in response to the initial proposal and was advised by Houlihan Lokey Capital, Inc. as financial advisor and Potter Anderson & Corroon LLP as legal counsel. The closing is expected in the second quarter of 2026, subject to the minimum tender condition and other customary conditions.
Upon completion, Forian's common stock will be delisted from the Nasdaq Stock Market. The company will continue to operate under the Forian name and brand, maintain its headquarters in Newtown, Pennsylvania, and be led by Max Wygod and the current leadership team. The board unanimously recommends that stockholders tender their shares.
Forian's platform offers data management and analytics to optimize performance across life sciences, healthcare payers and providers, and financial services. The company specializes in acquiring and commercializing large-scale healthcare data. More information is available at www.forian.com.
Additional details about the tender offer will be filed with the SEC in a Schedule TO, a Solicitation/Recommendation Statement on Schedule 14D-9, and a Schedule 13E-3 transaction statement. Investors can access these documents at www.sec.gov or in the "Investors" section of Forian's website at forian.com/investors.
