athenahealth Finds a Buyer and a Merger Partner

athenahealth Finds a Buyer and a Merger Partner

Only two weeks into the month of November 2018, and already the deal value is higher than all of October. Through November 14, nearly $9.8 billion has been spent, but that’s largely because of a single deal, and one that’s been long in the works. After a lengthy bidding process, athenahealth (NASDAQ: ATHN) was acquired by Veritas Capital and Evergreen Coast Capital, the private equity subsidiary of activist investor group Elliott Management Corporation. athenahealth’s focus is on hospital and ambulatory customers and its products range from medical records, revenue cycle, patient engagement, care coordination and population health services. The final price of... Read More »
Veritas Capital Doubles Down on Digital Health

Veritas Capital Doubles Down on Digital Health

Veritas Capital Management has made some aggressive moves into the digital health space in recent years. Its investment focus is on companies that provide critical products and services, not just in healthcare, but also in aerospace and defense, communications, energy and education. So its recent activity is interesting, and expensive. In April 2016, Veritas paid $820 million to acquire Verisk Health from its parent, Verisk Analytics, Inc. (NASDAQ: VRSK). Verisk Health provides data services, analytics and advanced technology to support value-based healthcare delivery and payment systems. At the time of the sale, it had 350 clients in the United States. The price consisted of $720 million... Read More »

Veritas Capital Buys Back into Big Data

Big data firms are sweet targets for healthcare investors. Just last February, Veritas Capital sold Truven Health Analytics to IBM Watson Health (NYSE: IBM) for $2.6 billion. Now it’s putting some of that ROI into another big data firm, Verisk Health, the healthcare service business Verisk Analytics Inc. Verisk Health provides data services, analytics and advanced technologies to help users make smarter business decisions and reduce risk. The $820 million purchase price consists of $720 million in cash and a $100 million long-term subordinated promissory note. With Truven Health Analytics, Veritas Capital repositioned the company from a data provider with limited analytics offerings... Read More »