Veritas Capital and Elliott Management completed the acquisition of athenahealth for $5.7bn.

Veritas Capital and Elliott Management completed the acquisition of athenahealth, a publicly traded American company that provides network-enabled services for healthcare and point-of-care mobile apps for $5.7bn in cash. Under the terms of the agreement, athenahealth shareholders received $135 in cash per share. The per share purchase price represented a premium of approximately 12% over the company's closing stock price on November 9, 2018. Veritas-backed Virence Health, the former GE Healthcare Value-based Care assets that Veritas acquired in 2018, will combine with athenahealth under the athenahealth name and brand. Elliott's Evergreen Coast Capital will be minority investor in combined company. The combined company will be led by Virence Chairman and Chief Executive Officer Bob Segert and an executive leadership team comprised of executives from both companies, and will be headquartered on the athenahealth campus in Watertown, Massachusetts. As part of the transaction, Virence's Workforce Management business becomes a separate Veritas portfolio company under the API Healthcare brand. "The combination of athenahealth and Virence brings together two innovative companies with complementary expertise and a shared focus and passion for improving healthcare outcomes. With a network of over 160k providers, the combined company is positioned for future growth and new market opportunities and has the necessary scale to make a transformational impact in the healthcare industry," Ramzi Musallam, Veritas Capital CEO and Managing Partner.