Private equity firms mull $20B sale of Athenahealth: 5 details

Private equity firm Veritas Capital and Elliott Investment Management are considering business options for Athenahealth including selling the Watertown, Mass.-based EHR company for $20 billion or filing an initial public offering, Bloomberg reported Sept. 23. 

Five details: 

1. Veritas and Elliott are aiming for Athenahealth to be valued at more than $20 billion in a transaction, people familiar with the matter told Bloomberg

2. The firms are working with Goldman Sachs Group and Evercore to explore options for the EHR company, and the bankers have contacted about a half-dozen potential buyers to see their interest. 

3. Veritas and Elliott hope to complete a deal for Athenahealth by the end of the first quarter of 2022. However, the firms haven't made a decision yet and could choose to keep the EHR company, the people familiar with the matter said. 

4. Veritas and Elliott completed their acquisition of Athenahealth in February 2019 for $5.7 billion. As a result of the sale's completion, shares of Athenahealth's common stock were removed from Nasdaq, and trading was suspended. 

5. Athenahealth declined Bloomberg and Becker's comment requests. 

Editor's note: This article was updated Sept. 25 at 12:00 p.m. CT.


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