Watch Hellman & Friedman, Bain Capital to purchase Athenahealth for $17 billion – Reuters Tech News

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

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The emblem of Bain Capital is displayed on the display screen throughout a information convention in Tokyo, Japan October 5, 2017. REUTERS/Kim Kyung-Hoon

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Nov 22 (Reuters) – Athenahealth can be purchased by personal fairness corporations Hellman & Friedman LLC and Bain Capital for $17 billion, the newest signal of rising curiosity in corporations driving the healthcare sector’s shift to the cloud.

Demand for synthetic intelligence and cloud-based options that improve productiveness and shield affected person information have boomed throughout the COVID-19 pandemic.

Microsoft Corp (MSFT.O) earlier this 12 months struck a $16 billion deal to purchase Nuance Communications Inc (NUAN.O), a supplier of clever options akin to medical speech recognition, medical transcription and medical imaging. learn extra

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Privately held Athenahealth gives a software program that can be utilized to arrange affected person visits, doc sufferers’ medical data and observe and accumulate funds.

Its buy, introduced on Monday, is anticipated to shut within the first quarter of 2022.

Evergreen, hedge fund Elliott’s personal fairness arm, and funding agency Veritas had taken Athenahealth personal in 2019 in a $5.7 billion deal.

The corporate was then merged with Virence Health, a healthcare software program supplier that Veritas had beforehand acquired from Basic Electrical Co (GE.N).

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Reporting by Amruta Khandekar; Enhancing by Shailesh Kuber and Aditya Soni

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