Athenahealth, which has struggled with mounting pressure from investors for more than a year, will reportedly be acquired by Veritas Capital and Evergreen Coast Capital in a massive $5.7 billion deal, according to a Healthcare Dive report.
According to the report, the Massachusetts-based company will merge with Virence Health, which operates under the Veritas umbrella, but retain the athenahealth brand. The deal could be finalized in the first quarter of 2019.
“Combining with Virence will create new opportunities for collaboration and growth,” Jeff Immelt, athenahealth executive chairman, said in a statement. “Operating as a private company with Veritas’s ownership and support will provide athenahealth with increased flexibility to achieve our purpose of unleashing our collective potential to transform healthcare.”
Athenahealth’s board of directors unanimously agreed to the deal.