Thoma Bravo is weighing a sale of healthcare identity software provider Imprivata in a process that could value the business at up to $7bn, according to sources cited by Reuters.

The private equity firm is working with JPMorgan and Evercore on an early-stage sale process expected to attract interest from both strategic buyers and financial sponsors. Thoma Bravo acquired Imprivata in 2016 for $544m and has since overseen a period of rapid growth and bolt-on acquisitions.

Imprivata now generates around $500m in annual revenue and provides identity and access management software used across hospitals and healthcare systems. Its expansion has included the acquisition of Verosint, which focuses on identity threat detection.

The potential transaction would represent a significant value uplift for Thoma Bravo and underscores how AI adoption and data-protection concerns are driving elevated multiples in cybersecurity-focused private equity exits.

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