Athenahealth has been acquired by private equity firms Hellman & Friedman and Bain Capital for $17 billion.
"We are thrilled to partner with Hellman & Friedman and Bain Capital as we take the next step in our evolution and continue our work to transform and improve the delivery of healthcare," Bob Segert, chair and CEO of Athenahealth, said in a Feb. 15 press release.
Five details of the acquisition:
1. Mr. Segert and Athenahealth's current management team will continue to lead the company.
2. In February 2019, Veritas and Elliott acquired Athenahealth for $5.7 billion but considered selling the company or filing an initial public offering in September 2021.
3. Hellman & Friedman and Bain Capital entered an agreement to acquire Athenahealth on Nov. 22.
4. The acquisition was completed Feb. 15.
5. The joint investment includes Hellman & Friedman, Bain Capital Private Equity and Bain Capital Tech Opportunities; Veritas Capital and Evergreen Coast Capital, an Elliott Investment Management affiliate, will each keep a minority investment in Athenahealth. Other new co-investors include an affiliate of GIC and a wholly owned subsidiary of the Abu Dhabi Investment Authority.