Elliott Management, led by activist investor Paul Singer, has taken a 9.2% stake in Athenahealth.
The information technology firm offers cloud-based electronic health records to providers. News of the deal, made this month, came in the form of a Securities and Exchange Commission filing released late last week. The company’s shares jumped by more than 17% after the news broke, bringing its market value to upward of $5 billion. The boost in shares follows a dip a couple of weeks ago in response to a disappointing first quarter.