Home Health Athenahealth bought by private equity firms Hellman & Friedman, Bain Capital

Athenahealth bought by private equity firms Hellman & Friedman, Bain Capital

by Mikael Harris

Cloud computing vendor athenahealth announced Monday that it would be jointly acquired by affiliates of Bain Capital and Hellman & Friedman for $17 billion.

The company, which offers electronic health record and physician practice tools, said the investment was expected to be completed in the first quarter of 2022.  

Chair and CEO Bob Segert will continue in his position, said athenahealth in a press release, as will the current management team.  

“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,” said Segert in a statement.  


Athenahealth, which was acquired by private equity firms Veritas Capital and Evergreen Coast Capital in 2019 for $5.7 billion, says it currently partners with more than 140,000 ambulatory care providers in all 50 states and across more than 120 specialties.  

In 2020, athenahealth launched a new EHR-embedded telehealth tool. According to Jessica Sweeney-Platt, vice president of research and editorial strategy, the company has offered 18.4 million virtual appointments over the past year.  

“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.  

But the vendor has also faced hurdles.   

Before that acquisition – which included a merger with Virence Health, also owned by Veritas – the company had confronted challenges, including an activist investor campaign from Elliott Management; the stepdown of founder and former CEO Jonathan Bush amid allegations of sexual harassment and domestic abuse; and layoffs of 9% of the workforce.    

And this January, the U.S. Department of Justice announced that the company agreed to pay $18.25 million to resolve False Claims Act violation allegations. A spokesperson for the company said it admitted no wrongdoing under the settlement.  

Still, the company’s new owners voiced optimism for its future growth.  

“Given our deep experience in software and healthcare, we are excited to work with Bob and the executive team to rapidly scale the business and continue to innovate and grow alongside our most disruptive and innovative ambulatory care clients to build the foundations of a multi-sided digital care network between patient, payer and provider,” Allen Thorpe, partner at Hellman & Friedman, said in a statement.  


November has seen several big money moves in the health IT space, with software-as-a-service company EverCommerce announcing its new ownership of EHR vendor DrChrono and the newly launched FemTec Health acquiring beauty box company Birchbox and social marketing platform Liquid Grids.

Meanwhile, GE said it would spin off its healthcare division, GE Healthcare, in early 2023. Virence Health, which merged with athenahealth, was once GE Healthcare’s value-based care arm.  


“Over the course of our successful partnership with Bob and the management team, athenahealth has driven tremendous growth and transformation, reinforcing its position as the premier healthcare IT company supporting the largest nationwide network of healthcare providers,” Ramzi Musallam, CEO and managing partner of Veritas Capital, said in a statement.  

“Following our take-private and combination with Virence in 2019, athenahealth delivered unrivaled value to its customers by significantly increasing R&D investment resulting in higher quality care, lower costs across the healthcare ecosystem and overall improved patient outcomes,” he said.

Kat Jercich is senior editor of Healthcare IT News.
Twitter: @kjercich
Email: [email protected]
Healthcare IT News is a HIMSS Media publication.

Source : Healthcare IT News

Related Articles

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

NEWS7.ASIA :Athenahealth bought by private equity firms Hellman & Friedman, Bain Capital
https://www.campingetrandonnee.com/   https://leguideselect.com   https://lenoblebricoltout.fr   https://travel-mag.co.com   https://www.echaussures.net/  
How Long To Wait Between Vaccine, Mammogram? Dr. Mallika Answers Your COVID-19 Questions – CBS Boston *  Study Explores Actionable Pathologic Variants in Caribbean Women With Breast or Ovarian Cancer – www.oncnursingnews.com/ *  Effaroucheurs à Oiseaux tête de Chat (Lot de 2) *  Croix Sainte Eulalie Vin Rouge France Languedoc Roussillon Domaine Armandélis 2012 75 cl *  En Indonésie, des milliers de villageois fuient l’éruption du volcan Semeru *  * Levi’s Graphic Crewneck Tee T-Shirt Homme *  Queen used technical loophole to back Charles and William in Cop26 speech, expert claims *  https://www.casques-audio.com/   https://www.echaussures.net/   https://materiel-camping.info   https://saecanada.net   https://d-c-k.fr   https://newshealth.biz   https://chaussures-tn.fr   https://www.lacavernedujouet.org   https://respectologie.fr   https://www.news-in-europa.com   https://pushkarfair-india.com   https://www.les-livres.fr/   https://www.lingeries-sexy.com/shop/   https://mondialnews.com   Athenahealth bought by private equity firms Hellman & Friedman, Bain Capital : news7

news7.asia Athenahealth bought by private equity firms Hellman & Friedman, Bain Capital