 |
Stanton client Bain Capital and Finsbury Glover Hering’s Hellman & Friedman are acquiring Athenahealth Partners, a cloud-based software company, from Veritas Capital and Evergreen Coast Capital for $17B, which is one of the biggest leveraged buyouts of the year.
Athenahealth serves more than 140K ambulatory care providers. It helps them increase clinical efficiency, optimize financial performance, improve patient outcomes and accelerate the shift toward value-based care.
Devin O’Reilly, managing director at Bain Capital Private Equity, said Athenahealth “is at the frontier of digital health in the US, enhancing the clinical quality, operational efficiency and delivery of preventive care to nearly 20 percent of the population.”
Athenahealth’s high-tech leadership has differentiated it as “a next-generation cloud-based SaaS technology platform, facilitating innovation in a rapidly evolving and dynamic market,” said Sameer Narang, partner at H&F.
Veritas Capital, which relies on Sard Verbinnen & Co, and Evergreen Coast Capital will retain minority stakes in Athenahealth, along with the Abu Dhabi Investment Authority and GIC—Singapore’s sovereign wealth fund.
Bain Capital’s Alex Stanton and Charlyn Lusk represent Bain Capital, while FGH’s Winnie Lerner handles H&F.
Sard Verbinnen’s Andrew Cole, Jenny Gore and Julie Rudnick work for Veritas Capital.
Joele Frank handles Crinetics Pharmaceuticals as the specialist for treatments for endocrine diseases agrees to get acquired by Vertex Pharmaceuticals in a deal pegged at $8.8B.
Teneo represents Honeywell spin-off Solstice Advanced Materials as it buys Collected Strategies client Element Solutions in a deal pegged at $14.5B.
Dallas-based Throughline Global Advisors advised Principal Mineral as it acquired Isola Group, maker of copper-clad laminates used in printed circuit boards.
oele Frank works for satellite operator Iridium Communications as it gets acquired by space company Rocket Lab in a deal worth $8B.
Uber’s Mike Lucarelli is moving to NXP Semiconductors as senior VP-investor relations.
