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US: Veritas Capital, Elliott buy Athenahealth for $57b

By  |  November 12, 2018

Private-equity firm Veritas Capital and hedge fund Elliott Management are buying Athenahealth for about US$5.7 billion, the US health-care software maker announced on Monday, November 12.

Athenahealth had been under pressure from Elliott to sell itself since the hedge fund acquired a stake in the company last year. In May, Elliott made an unsolicited offer of US$160 per share to buy Athenahealth. Reuters reported on Sunday that Athenahealth had agreed to a takeover.

Once the deal is complete, Athenahealth will merge with Virence Health, the former GE Healthcare unit that Veritas acquired earlier this year, the companies announced in a joint statement.

A deal for Athenahealth represents the largest deal to date for Elliott’s private-equity arm, Evergreen.

Full Content: CNBC & Reuters
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