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.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.