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AthenaHealth Sets IPO Terms

AthenaHealth Inc., a Watertown, Mass.-based provider of online business services for physician practices, has set its proposed IPO terms to around 6.29 million common shares being offered at between $14 and $16 per share. If it prices at the top of its range, the company would have an initial market cap of around $505.6 million. It plans to trade on the Nasdaq under ticker symbol ATHN, with Goldman Sachs and Merrill Lynch serving as co-lead underwriters. AthenaHealth has raised around $34 million in venture capital funding since its 1997 inception, from firms like Oak Investment Partners (17.3% pre-IPO stake), Venrock Associates (14.8%), Draper Fisher Jurvetson (14.8%) and Cardinal Partners (12.6%). www.athenahealth.com