Veritas, Elliott consider Athenahealth sale at $20 bln valuation - Bloomberg News

Reuters
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Sept 22 (Reuters) - Private equity firm Veritas Capital and hedge fund Elliott Investment Management are exploring options for Athenahealth Inc, 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 said https://bloom.bg/3AyRjCX, adding that the firms hope to complete the deal by the end of the first quarter 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 partnered in 2018 for a $5.7 billion deal to take Athenahealth private, after which the company was merged with a healthcare unit that Vertias had acquired from General Electric. (Reporting by Akriti Sharma; Additional reporting by Baranjot Kaur and Aakriti Bhalla in Bengaluru; Editing by Ramakrishnan M.)