Athenahealth

Athenahealth American is a developer software and services for the sphere. health care Located in Massachusetts, the company offers a cloud-based solution ON that automates billing and patient tracking in health care settings. It was founded in 1997 by Jonathan Bush, nephew of former President USA George H.W. Bush.

History

2021: Bain Capital and Hellman & Friedman bought Athenahealth for $17 billion

At the end of November 2021, it became known about the sale of health software developer Athenahealth to investment companies. The deal amounted to $17 billion.

Athenahealth is also buying venture capital firms Bain Capital Hellman & Friedman from investment giants Veritas Capital and Evergreen Coast Capital. By the end of November 2021, Athenahealth is partnering with more than 140,000 outpatient care providers in all 50 states USA and on more than 120 specialties to accelerate the pace of health innovation and support existing clinical and financial outcomes.

Veritas Capital and Evergreen Coast Capital acquired Athenahealth for $17 billion

Today marks an important milestone for Athenahealth and our partnership with Veritas Capital and Evergreen Coast Capital, and we are very excited to work with Hellman & Friedman and Bain Capital to begin the next phase of our growth path, "said Athenahealth Chairman and Chief Executive Officer Bob Segert, who will lead the current managers with the business after the deal.

Given our wealth of experience in software and healthcare, we are excited to work with Bob and his leadership team to rapidly scale the business and continue to innovate and grow with our most revolutionary clients in outpatient care, to lay the foundations of multilateral cooperation for the development of a patient-to-patient digital care ecosystem, service provider and payment system operator, "said Allen Thorpe, partner at Hellman & Friedman, in a statement.

Bain Capital Managing Director Devin O'Reilly believes Athenahealth holds the leading position in digital healthcare in the United States, improving the quality of clinical research, operational effectiveness, and providing preventive care to almost 20% of the population.^[1]

2018: Athenahealth sold to Veritas Capital and Elliott Management for $5.7 billion

On November 12, 2018, Athenahealth officially announced that it was being bought by private investment company Veritas Capital and hedge fund Elliott Management.^[2]

Medical software developer Athenahealth, founded by the nephew of the former US president, sold for $5.7 billion

The amount of the transaction, the settlement of which will be made in full cash, is about $5.7 billion. Buyers will pay $135 for each Athenahealth share, which is 12.2% higher than the company's exchange rate as of November 9, the company said in a statement.^[3]

Upon completion of the deal, Athenahealth will be part of Virence Health, a former division of GE Healthcare that Veritas acquired earlier in 2018. The new structure will be led by Virence Chairman and Chief Executive Officer Bob Segert and a team of top managers from both companies.

In 2018, Athenahealth experienced not the best times. In an effort to improve business, the company reduced staff and changed management.

In June 2018, company CEO Jonathan Bush was forced to leave his post after the media reported that more than 10 years ago he attacked his ex-wife because of a child custody dispute.

During the search for the new CEO, Athenahealth CEO Marc Levine took over his duties, and former General Electric CEO Jeff Immelt became chairman of the company's board.

According to Reuters, in May 2018, the hedge fund Elliott Management acquired a 9 percent stake in Athenahealth and began to exert pressure on management, pushing to sell the company.

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