Two private equity firms — Veritas Capital and Evergreen Coast Capital, a subsidiary of Elliott Management — are acquiring Athenahealth in a $5.7 billion all-cash deal that values the company far below initial offers.
The bottom line: So ends the long, drawn-out process of what would happen to the large but struggling electronic health records and billing firm. Athenahealth co-founder Jonathan Bush, who stepped down in June over allegations of sexual assault and misconduct, stands to cash out $142 million in the buyout.