[ad_1]
Reuters
November 12 (Reuters) – Private equity firm Veritas Capital and hedge fund Elliott Management buy Athenahealth Inc for about $ 5.7 billion, the US health software maker said on Monday.
Athenahealth is worth $ 135 per share, which represents a premium of 12.2% over the closing stock price on Friday.
Reuters reported Sunday that Athenahealth had accepted a takeover.
The company based in Watertown, Massachusetts, whose cloud-based software is used to track the earnings of patients, doctors and hospitals, has removed jobs and changed its management over the past year as part of 'a restructuring effort.
Jeff Immelt, former President and CEO of General Electric, is currently the President.
Once the agreement is finalized, Athenahealth will merge with Virence Health, the former GE Healthcare unit acquired by Veritas earlier this year, the two companies said in a joint statement.
A transaction for Athenahealth represents the largest transaction so far for Elliott's private equity arm Evergreen.
In June, Jonathan Bush, founder and CEO of Athenahealth, nephew of former US President George H. W. Bush resigned following a newspaper article claiming he had assaulted his ex-wife 14 years earlier.
Source link
