Before the acquisition, athenahealth put its resort up for sale — What happens now?

In 2011, athenahealth acquired a 387-acre property in Northport, Maine. Since then, the company has used the property, which overlooks a bay and is located on the side of a mountain, for public and private events and conferences, according to Penobscot Bay Pilot.

But athenahealth — operating through its Athena Point Lookout — put the property, Point Lookout Resort and Conference Center, up for sale about a year ago, and now that the medical records company has agreed to sell itself for $5.7 billion, Point Lookout's future is up in the air.

Here are seven things to know about the resort:

1. The property features a gym, bowling alley, cabins, an artificial turf playing field and two centers for events such as weddings and conferences.  

2. APL has experienced some legal trouble when trying to sell the property. In January 2018, a Montana couple entered into talks to purchase the resort and put in a $6.5-million offer. One day later, APL received another offer from an unnamed party, and entered negotiations with that party.

3. David and Tami Hirschfeld, the Montana couple, upped their offer to $7 million in response, at which point APL issued the Hirschfelds a letter of intent to pursue a deal. However, the agreement, noted the proposal was nonbinding and that APL was still considering multiple offers. Just hours after it sent the Hirschfelds the letter, APL said it entered into a contract to sell the property to a third party.

4. The Hirschfelds filed a complaint against APL in April 2018, alleging it violated Maine law on six counts, including breach of contract and fraudulent misrepresentation.

5. In a Nov. 8 ruling, U.S. District Court Judge Singal sided with APL, arguing "the facts as pled are insufficient to state any of these claims." The judge said the language used in the letter of intent was unambiguous and plain. Moreover, the judge said APL's alleged promises to the Hirschfelds were "insufficient to state a claim for either equitable or promissory estoppel." The case was dismissed Nov. 8.

6. Days later, on Nov. 12, athenahealth announced it would sell itself to Veritas Capital and Evergreen Coast Capital in a deal valued at $5.7 billion, leaving questions about the property's future unanswered.

7. When asked about its plans for the property, an athenahealth spokesperson told the Pilot, "We won't be commenting at this time."

To access the full Penobscot Bay Pilot report, click here.

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