Athenahealth campus up for sale: 5 things to know  

Athenahealth is selling its 29-acre campus in Watertown, Mass., but plans to sign a long-term lease with the building's new owner, The Boston Globe reports.

Five things to know:

1. Athenahealth could make hundreds of millions of dollars by selling the 11-floor, 830,000 square-foot Arsenal on the Charles building, according to real estate experts, the publication reports.

2. The Arsenal on the Charles campus has become a sought-after area of real estate for the region's growing technology and life science industries. Selling the campus also removes Athenahealth's responsibilities of managing a large office complex.

3. Athenahealth was acquired in February for $5.7 billion by private equity firm Veritas Capital and Elliot Management-affiliate Evergreen Coast Capital.

"Since the change in our company ownership earlier this year, we at Athenahealth have been striving to create a thriving ecosystem that delivers accessible, high-quality, and sustainable healthcare for all," an Athenahealth spokesperson said in an emailed statement to Becker’s. "Shifting from property ownership and management will bring us closer to realizing that vision, and we expect that transition will be seamless for our Watertown employees."  

4. The EHR vendor will sign a new lease for around 350,000 square feet, which is roughly the same amount of office space it currently occupies, according to the report.

"We love the Arsenal on the Charles campus and intend to maintain the same headquarters here," the spokesperson added. "We enjoy a wonderful relationship with the Watertown community, and look forward to continuing that relationship as a long term tenant on campus." 

5. Athenahealth aims to have a buyer lined up by the end of 2019.

More articles on EHRs: 
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Allscripts, Northwell Health to build voice-enabled EHR

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