Athenahealth’s $5.7 billion sale to private equity closes

Athenahealth closed its sale to two private equity firms, Veritas Capital and Elliott Management Corp.’s Evergreen Coast Capital. They are combining the company with the former GE Healthcare company Virence Health Technologies.

The $5.7 billion transaction creates a company with revenue that totals more than $1.7 billion and has more than 160,000 clients—120,000 of whom come from Athenahealth, which transitioned from a public to a private company under the deal.

The new company will retain the Athenahealth name, brand and Watertown, Mass., headquarters. Its executive team has not been announced, but will include leadership from both companies. Both Veritas and Evergreen will have seats on its board.