QuadraMed Shareholders Approve Buyout

QuadraMed Corp. (Nasdaq: QDHC) shareholders have approved a $126 million take-private offer from Francisco Partners. The deal was first announced last December, and is now expected to close next week. Wells Fargo Foothill and Silicon Valley Bank had committed debt financing, although the deal does not include a financing condition. QuadraMed is a Reston, Va.-based provider of healthcare IT services.

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