Sept 22 Reuters - Private equity firm Athenahealth Inc. is exploring the options for Veritas Capital and hedge fund Elliott Investment Management, including a sale or initial public offering, Bloomberg News reported on Wednesday citing people familiar with the matter.
Veritas and Elliott are aiming for the health information technology company to be valued at more than $20 billion, the report added https: Bloom.bg 3 AyRjCX, adding that the firms hope to complete the deal by the end of the first quarter of the next year.
Veritas and Athenahealth declined to comment on the report, while Elliott did not immediately respond to Reuters' request for comment.
As per the report, Veritas and Elliott are working with Goldman Sachs Group Inc and Evercore Inc to help explore options for Athenahealth.
The hedge fund and Veritas had teamed for a $5.7 billion deal in 2018 to take Athenahealth private, after which the company was merged with a health unit that Vertias had acquired from General Electric.