athenahealth, a provider of cloud-based electronic health records based in Watertown, Mass., has announced the signing of a definitive agreement to acquire Epocrates, a mobile health provider based in San Mateo, Calif.
Epocrates is known for developing a point-of-care medical application that has been adopted by about 330,000 physicians, according to the release.
The boards of directors of athenahealth and Epocrates have agreed to a price of $11.75 per share for an aggregate purchase price of approximately $293 million. According to the release, the deal is an all-cash offer for all shares of Epocrates' common stock. athenahealth plans to finance the acquisition using available cash and funds from its existing credit facility.
The finalization of the acquisition is subject to approval from shareholders of Epocrates as well as other closing conditions. The deal is expected to close in the second quarter of 2013, according to the release.
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Epocrates is known for developing a point-of-care medical application that has been adopted by about 330,000 physicians, according to the release.
The boards of directors of athenahealth and Epocrates have agreed to a price of $11.75 per share for an aggregate purchase price of approximately $293 million. According to the release, the deal is an all-cash offer for all shares of Epocrates' common stock. athenahealth plans to finance the acquisition using available cash and funds from its existing credit facility.
The finalization of the acquisition is subject to approval from shareholders of Epocrates as well as other closing conditions. The deal is expected to close in the second quarter of 2013, according to the release.
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