By Benjamin Horney (November 22, 2021, 9:29 AM EST) -- Health care IT services provider Athenahealth will be purchased by private equity firms Bain Capital and Hellman & Friedman for $17 billion, the companies said Monday, in an agreement shaped by law firms Milbank, Kirkland & Ellis, Gibson Dunn and Dechert.
The sellers are Veritas Capital and Evergreen Coast Capital, which will retain minority stakes in Athenahealth going forward, according to a statement. Rumors that they were mulling a sale of Watertown, Massachusetts-based Athenahealth Inc. date back to September.
Athenahealth and Veritas are represented by Milbank LLP; the private equity buyers are advised by Kirkland & Ellis LLP; Evergreen Coast is...
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