Athenahealth fetches $5.7 billion cash buyout offer

November 12, 2018 - 9:03 am

A prominent athenahelath investor and a private equity firm will spend about $5.7 billion on the medical billing software maker and take it private.

Veritas Capital and Evergreen Coast Capital said Monday they'll pair athenahealth with a company Veritas bought earlier this year, Virence Health.

Athenahealth stock owners will receive $135 in cash per share, a roughly 12 percent premium over the company's closing price on Friday.

Athenahealth, based in Watertown, Massachusetts, makes medical record, revenue cycle and care coordination products and delivers most of it through the cloud.

Athenahealth investor Elliott Management has been critical of the company and offered about $6.5 billion to take it private last spring. Evergreen Coast Capital is an Elliott affiliate that invests in technology.

Shares of athenahealth jumped in early trading.

AP Editorial Categories: 
Comments ()