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Bain and H&F complete Athenahealth acquisition for $17bn

Athenahealth is a provider of cloud-based enterprise software solutions for medical groups and health systems.

Bain Capital and Hellman & Friedman have closed their previously announced buyout of Athenahealth for $17 billion. The sellers were Veritas Capital and Evergreen Coast Capital. Milbank LLP advised Veritas Capital on the sale. Athenahealth is a provider of cloud-based enterprise software solutions for medical groups and health systems.

PRESS RELEASE

WATERTOWN, Mass.–(BUSINESS WIRE)–athenahealth, Inc. (“athenahealth” or “the Company”), a leading provider of cloud-based enterprise software solutions for medical groups and health systems nationwide, today announced that affiliates of Bain Capital and Hellman & Friedman have completed their acquisition of athenahealth from Veritas Capital and Evergreen Coast 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,” said Bob Segert, chairman and chief executive officer of athenahealth, who will continue to lead the Company. “It is an exciting time for athenahealth’s customers, employees, and partners. This acquisition confirms our position as the largest and most innovative provider of cloud-based electronic medical record and physician practice solutions across healthcare, and I look forward to our future as we work together to realize our vision of creating a thriving ecosystem that delivers accessible, high-quality, and sustainable healthcare for all.”

athenahealth partners with more than 140,000 ambulatory care providers, throughout all 50 states and across more than 120 specialties, to accelerate the pace of healthcare innovation and support the delivery of leading clinical and financial outcomes. athenahealth’s solutions and services enable its customers to increase clinical efficiency, optimize financial performance, improve patient care outcomes, and support providers in accelerating their shift toward value-based care. athenahealth’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. athenahealth delivers this suite of capabilities to customers by combining powerful SaaS technology with the expert services and data-driven insights that come from the country’s largest single connected network.

In addition to Hellman & Friedman, Bain Capital Private Equity, and Bain Capital Tech Opportunities, the investor group includes Veritas Capital and Evergreen Coast Capital, which have each retained a minority investment in athenahealth, as well as other new coinvestors, including an affiliate of GIC and a wholly owned subsidiary of the Abu Dhabi Investment Authority.

About athenahealth, Inc.
athenahealth creates innovative healthcare technology that connects clinicians, patients, payers, and partners in differentiated ways. Our electronic health records, revenue cycle management, and patient engagement tools allow anytime, anywhere access, driving better financial outcomes for our customers and enabling our provider customers to deliver better quality care. In everything we do, we’re inspired by our vision to create a thriving ecosystem that delivers accessible, high-quality, and sustainable healthcare for all. For more information, please visit www.athenahealth.com.