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Private equity-owned Imprivata could be valued at nearly $7 billion as demand rises for healthcare identity and access management solutions.
Thoma Bravo, a private equity firm, is considering a possible sale of Imprivata, a U.S. healthcare identity and access management firm, in a deal that could value the cybersecurity specialist at around $7 billion. The consideration comes at a time when the demand for identity security solutions is increasing due to stricter regulations and AI-related cyber threats.
Thoma Bravo has reportedly hired JPMorgan and Evercore to assist in the process, which is still in its very early stages, according to sources close to the matter. The proposed sale price would be a significant jump from the $544 million that Thoma Bravo paid to acquire Imprivata in 2016. The firm is estimated to have annual revenues of around $500 million, which come from the sales of subscription-based security software.
“Identity security is now a mission-critical requirement for healthcare organizations that require both speed and secure access,” said a source familiar with the matter. Another source close to the deal noted that Imprivata’s emphasis on clinician workflow optimization makes it an attractive asset for companies seeking scalable healthcare cybersecurity solutions.
Imprivata, founded in Waltham, Massachusetts, delivers IAM solutions that enable healthcare professionals to access clinical systems rapidly while safeguarding confidential patient information. In recent years, the company has pursued bolt-on acquisitions, such as Verosint, which focuses on identity threat detection as automation and AI expand attack surfaces.
The proposed sale indicates that the trend in M&A activity in the cybersecurity market continues to gain traction, especially for companies that focus on identity protection, regulatory requirements, and AI-driven security challenges. High multiples in the industry indicate that investor sentiment remains strong despite pressures in overall IT spending. Future events are likely to unfold as the review period continues, although no official sale period has been announced.
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