athenahealth, Inc. (NASDAQ:ATHN) notched a move of 9.51% to $131.79 for the day. The total traded volume was 6217158. The stock had closed at $120.35 on the previous day.
The stock made income 109.50M on sales of 1.29B. ROA sticks to 8.50% and ROI is 5.40%. Shares have moved -19.61% from its 1 Year high price and changed 12.86% from its 1 Year low price. The shares registered RSI (14) at 57.02 and ATR factor was seen at 4.08.
athenahealth, Inc. (NASDAQ:ATHN), a leading provider of network-enabled services for hospital and ambulatory customers nationwide, Veritas Capital (“Veritas”) and Evergreen Coast Capital (“Evergreen”), today reported that they have entered into a definitive agreement under which an affiliate of Veritas and Evergreen will acquire athenahealth for approximately $5.7 billion in cash.
Jeff Immelt, Executive Chairman of athenahealth said “After a thorough strategic review process, we have decided to enter this agreement with Veritas, which we believe maximizes value for our shareholders and accelerates our goal to transform healthcare”. “Combining with Virence will create new opportunities for collaboration and growth. Operating as a private company with Veritas’s ownership and support will provide athenahealth with increased flexibility to achieve our purpose of unleashing our collective potential to transform healthcare.”
Under the terms of the agreement, athenahealth shareholders will receive $135 in cash per share. The per share purchase price represents a premium of approximately 12 percent over the company’s closing stock price on November 9, 2018, the last trading day prior to today’s announcement, and a premium of approximately 27 percent over the company’s closing stock price on May 17, 2017, the day prior to Elliott Management Corporation’s announcement that it had acquired an approximate 9 percent interest in the company.
Following the closing, Veritas and Evergreen expect to combine athenahealth with Virence Health (“Virence”), the GE Healthcare Value-based Care assets that Veritas acquired earlier this year. The combined business is expected to be a leading, privately-held healthcare information technology company with an extensive national provider network of customers and world-class products and solutions to help them thrive in an increasingly complex environment.
Following the close of that transaction, the combined company is expected to operate under the athenahealth brand and be headquartered in Watertown, Massachusetts. The company will be led by Virence Chairman and Chief Executive Officer Bob Segert and an executive leadership team comprised of executives from both companies. Following the completion of the transaction, Virence’s Workforce Management business will become a separate Veritas portfolio company under the API Healthcare brand.
athenahealth, Inc. (NASDAQ:ATHN) is with Insider ownership of 1.10% . Shares float is 39.99M and outstanding shares are at 42.03M. The float short is currently 3.63% and short ratio is 2.53.