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February 16, 2022updated 08 Mar 2022 11:17am

Hellman & Friedman and Bain Capital acquire athenahealth for $17bn

The companies signed the acquisition agreement in November last year.

Affiliates of Hellman & Friedman and Bain Capital have acquired athenahealth from Veritas Capital and Evergreen Coast Capital in a deal valued at $17bn.

athenahealth offers cloud-based enterprise software solutions for health systems and medical groups in the US.

In November last year, the companies signed a definitive agreement in this regard.

athenahealth chairman and CEO Bob Segert said: “We are thrilled to partner with Hellman & Friedman and Bain Capital as we take the next step in our evolution and continue our work to transform and improve the delivery of healthcare. 

“This acquisition confirms our position as the largest and most innovative provider of cloud-based electronic medical record and physician practice solutions across healthcare, and I look forward to our future as we work together to realise our vision of creating a thriving ecosystem that delivers accessible, high-quality, and sustainable healthcare for all.”

To expedite healthcare innovation and support clinical and financial outcome delivery, athenahealth collaborates with over 140,000 ambulatory care providers in all 50 states and across over 120 specialities in the country. 

Furthermore, the company’s solutions and services aid its customers to boost clinical efficiency, enhance financial performance, improve patient care outcomes and help providers in expediting the shift toward value-based care. 

With modules covering engagement of patients, revenue cycle, telehealth, payments, population health and value-based care management, athenaOne cloud platform acts on the crucial aspects of a physician’s practice.

In addition, the company offers this suite of expertise to clients by merging robust SaaS technology with the expert services and data-guided insights obtained from the connected network in the country.

Following the acquisition, Bob Segert will continue to lead athenahealth. 

Veritas, Evergreen hold a minority stake in athenahealth while new co-investors, including a GIC affiliate and Abu Dhabi Investment Authority subsidiary made investment in the company.

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