Health Care

Bain Capital, Hellman & Friedman to buy Athenahealth for $17B

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Athenahealth will be acquired by private-equity firms Bain Capital and Hellman & Friedman roughly three years after the company went private in a separate private-equity deal.

Bain Capital and Hellman & Friedman plan to jointly acquire Athenahealth, a Watertown, Massachusetts-based developer of healthcare software, for $17 billion in a deal expected to close in the first quarter of 2022, the companies said Monday. Athenahealth’s previous owners, Veritas Capital and Evergreen Coast Capital, will retain a minority investment in the company.

Bob Segert, chairman and chief executive officer of Athenahealth, said the acquisition “marks a significant milestone for Athenahealth.”

“We are thrilled to work with Hellman & Friedman and Bain Capital to drive the next phase of our growth journey,” Segert said in a news release Monday.

Segert will continue to lead Athenahealth with the company’s current management team.

Athenahealth, previously a public company led by its co-founder Jonathan Bush, in 2018 was acquired by Veritas Capital and Evergreen Coast Capital for $5.7 billion.


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