By OPEN MINDS Circle
Affiliates of Hellman & Friedman and Bain Capital entered a definitive agreement to jointly acquire athenahealth, Inc., for $17 billion from Veritas Capital and Evergreen Coast Capital. Athenahealth provides cloud-based enterprise software solutions for medical groups and health systems nationwide. Its solutions include electronic medical record and physician practice solutions. Veritas and Evergreen, which acquired athenahealth in 2019 for $5.7 billion, will retain a minority stake. The deal is expected to close in the first quarter of 2022.
athenahealth partners with more than 140,000 ambulatory care provider organizations, throughout all 50 states and across more than 120 specialties. Its solutions and services enable users to increase to clinical efficiency, optimize financial performance, improve patient care outcomes, and support providers in accelerating their shift toward value-based care. The Company’s athenaOne cloud platform addresses the critical aspects of a physician’s practice – with modules spanning patient engagement, revenue cycle, telehealth, payments, population health, and value-based care management.
Hellman & Friedman (H&F) is a global private equity firm founded in 1984. H&F targets outstanding businesses in select sectors including software & technology, financial services, healthcare, consumer & retail, and other business services. The firm is currently investing its tenth fund, with $24.4 billion of committed capital, and had over $95 billion in assets under management as of September 30, 2021.
Bain Capital was founded in 1984. It has offices on four continents, and since its inception has made primary or add-on investments in more than 1,000 companies. Bain Capital Private Equity provides a global platform and depth of expertise in key vertical industries including health care and technology. In addition to private equity, Bain Capital invests across asset classes including credit, public equity, venture capital, real estate and insurance, managing approximately $150 billion in total.
Contact information: athenahealth, Inc.,311 Arsenal Street, Watertown, Massachusetts 02472; 617-402-1031; Email: media@athenahealth.com; Website: www.athenahealth.com/
Contact information: Bain Capital, 200 Clarendon Street, Boston, Massachusetts 02116; 617-516-2000; Website: https://www.baincapital.com/ and https://www.baincapital.com/healthcare
Contact information: Hellman & Friedman, 415 Mission Street, Suite 5700, San Francisco, California 94105; 415-788-5111; Email: info@hf.com; Website: https://hf.com/contact/