athenahealth acquisition for $17bn by Hellman & Friedman
Athenahealth, a provider of cloud-based enterprise software solutions has today declared that it has entered into an agreement to be jointly acquired by affiliates of Bain Capital and Hellman & Friedman, for $17bn.
The investment is expected to be completed in the first quarter of 2022, subject to regulatory approvals.
SaaS technology and the cloud deliver optimal healthcare solutions
Athenahealth, founded in 1997, Massachusetts, USA, is present across all 50 states. The company uses SaaS technology to offer customers access to the athenaOne cloud platform, with modules including:
- Patient engagement
- Revenue cycle
- Telehealth
- Payments
- Population health
- Value-based care management
Accessible and sustainable healthcare
Bob Segert, chairman and CEO of athenahealth, will continue his position with the present management team following the acquisition.
“Today marks a significant milestone for athenahealth and our partnership with Veritas Capital and Evergreen Coast Capital, and we are thrilled to work with Hellman & Friedman and Bain Capital to drive the next phase of our growth journey”, said Segert. “Our employees, customers, and partners are the source of our success and inspiration as we create a thriving ecosystem that delivers accessible, high-quality, and sustainable healthcare for all.”
“athenahealth’s technology leadership has differentiated the company as a next generation cloud-based SaaS technology platform, facilitating innovation in a rapidly evolving and dynamic market”, said Sameer Narang, partner at Hellman & Friedman.
“athenahealth is at the frontier of digital health in the United States, enhancing the clinical quality, operational efficiency, and delivery of preventive care to nearly 20% of the population today, unlocking the front door of the consumer healthcare journey and positioning the Company to support physicians in the continuing shift towards value-based care”, said Devin O’Reilly, a managing director at Bain Capital Private Equity. “We are excited to leverage our extensive vertical software and healthcare experience to help Bob and the management team accelerate growth, develop new products, gain market share, and continue to innovate in a highly scalable and vitally important end market”, added David Humphrey, a managing director at Bain Capital Private Equity.