Athenahealth, Inc.
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Athenahealth, Inc. - overview
Established
1997
Location
Watertown, MA, US
Primary Industry
Healthcare IT
About
Founded in 1997 and based in Massachusetts, US, Athenahealth, Inc. , formerly known as athenahealth. com, Inc. is a software technology company that provides medical practice automation and claims management software to medical groups and health systems.
Bob Segert is the chairman and CEO of the company. In November 2021, Bain Capital and Hell & Friedman agreed to acquire a majority stake in Athenahealth, Inc. from Veritas Capital and Evergreen Coast Capital for USD 17 billion. The company's solutions include cloud-based medical records management, mobile applications, billing software, data-driven insights, automated patient engagement solutions, revenue cycle services, telehealth, platform services, marketplace program, advisory services, and epocrates®.
The firm serves OBGYN, orthopedics, FQHC, health plans, member-centric organizations, start-ups, and ancillary service organizations. The November 2021 investment helps the firm accelerate its growth, develop new products, gain market share, and continue to innovate in the industry.
Current Investors
Hellman & Friedman, Bain Capital, GIC
Primary Industry
Healthcare IT
Sub Industries
Consulting Services, Healthcare IT, Medical Software
Website
www.athenahealth.com
Verticals
Cloud Computing, HealthTech, Mobile Apps
Company Stage
Mature
Total Amount Raised
Subscriber access only
Athenahealth, Inc. - financials
| Fiscal Year Ended | Dec 31, 2008 | Dec 31, 2009 | Dec 31, 2010 | Dec 31, 2011 | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 139,552,000 | 188,527,000 | 245,538,000 | 324,067,000 | 422,271,000 | 595,003,000 | 752,599,000 | - | - | - |
| % Revenue Growth (YoY) | - | 35.1% | 30.2% | 32.0% | 30.3% | 40.9% | 26.5% | - | - | - |
| EBITDA (USD) | 17,199,000 | 25,502,000 | 37,705,000 | 53,342,000 | 65,041,000 | 67,790,000 | 94,761,000 | - | - | - |
| Operating Income (USD) | 12,003,000 | 17,212,000 | 23,597,000 | 32,733,000 | 34,627,000 | 5,853,000 | 955,000 | - | - | - |
| Operating Margin | 8.6% | 9.1% | 9.6% | 10.1% | 8.2% | 1.0% | 0.1% | - | - | - |
| % EBITDA Margin | 12.3% | 13.5% | 15.4% | 16.5% | 15.4% | 11.4% | 12.6% | - | - | - |
| NET Income (USD) | 28,871,000 | 9,276,000 | 12,704,000 | 19,046,000 | 18,732,000 | 2,594,000 | (3,119,000) | - | - | - |
| % Net Margin | 20.7% | 4.9% | 5.2% | 5.9% | 4.4% | 0.4% | (0.4%) | - | - | - |
Athenahealth, Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Secondary Buyout | Completed | Athenahealth, Inc. | - | ||||||||
| Public to Private | Completed | Athenahealth, Inc. | - | ||||||||
| Merger | Completed | Virence Health Technologies | - | ||||||||
| PIPE | Completed | Athenahealth, Inc. | - | ||||||||
| Buyout | Completed | Athenahealth, Inc. | - |
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