Houlihan Lokey Advises Forian

Houlihan Lokey is pleased to announce that Forian Inc., a leading provider of data-science-driven information and analytics solutions to the life sciences, healthcare, and financial services industries, has been acquired by an entity affiliated with a consortium of investors led by its Chairman and Chief Executive Officer Max C. Wygod (the Consortium), resulting in the delisting of shares of Forian common stock from the Nasdaq Capital Market. The Consortium, consisting of existing stockholders with aggregate ownership of ~70% of Forian’s common stock, effectively acquired all remaining shares of Forian common stock for cash consideration of $2.17 per share, representing a premium of approximately 23% to Forian’s closing share price the day prior to announcement of the Consortium’s initial proposal to acquire the company. The transaction was completed on May 15, 2026.

Founded in 2019, Forian provides a unique suite of data management capabilities and proprietary information and analytics solutions to optimize and measure operational, clinical, and financial performance for customers within the traditional and emerging life sciences and healthcare payer and provider segments and the financial services industry. Forian has industry-leading expertise in acquiring, integrating, normalizing, and commercializing large-scale healthcare data assets and is the information product vendor of choice for some of the largest life sciences and healthcare companies and institutional investors.

Houlihan Lokey served as the exclusive financial advisor to the special committee of the board of directors of Forian. This transaction demonstrates the continued success of Houlihan Lokey’s market-leading Special Committee Advisory franchise and underscores the firm’s strength and momentum in advising companies in the healthcare technology and real-world evidence ecosystems.

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