M&A Deal Summary

athenahealth Acquires Virence Health Technologies

On July 1, 2019, athenahealth acquired software company Virence Health Technologies from Veritas Capital

Acquisition Highlights
  • This is athenahealth’s 1st transaction in the Software sector.
  • This is athenahealth’s 8th transaction in the United States.
  • This is athenahealth’s 3rd transaction in Massachusetts.

M&A Deal Summary

Date 2019-07-01
Target Virence Health Technologies
Sector Software
Buyer(s) athenahealth
Sellers(s) Veritas Capital
Deal Type Merger

Target

Virence Health Technologies

Westborough, Massachusetts, United States
Virence Health Technologies is a leading software provider that leverages technology and analytics to help healthcare providers across the continuum of care effectively manage their financial, clinical, and human capital workflows. Offering a comprehensive suite of innovative technology-enabled solutions, Virence aims to improve quality, increase efficiency, and reduce waste in the healthcare industry.

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Buyer(S) 1

Buyer

athenahealth

Boston, Massachusetts, United States

Category Company
Founded 1997
Sector Internet Software and Services
Employees4,668
Revenue 1.2B USD (2017)
DESCRIPTION

athenahealth is a provider of Internet-based business services for physician practices. The Company's service offerings are based on proprietary web-native practice management and electronic health record (EHR) software, a continuously updated payer knowledge-base, integrated back-office service operations, and live patient communications services. athenahealth was founded in 1997 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 8 of 9
Sector: Software M&A 1 of 2
Type: Merger M&A Deals 1 of 1
State: Massachusetts M&A 3 of 3
Country: United States M&A 8 of 9
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-08 Praxify Technologies

Palo Alto, California, United States

Praxify Technologies, Inc. is a Palo Alto-based company focused on reinventing how doctors work with health data to drive productivity, portability, and improved decision support. Praxify makes EHRs work the way doctors and patients need them to – quickly, intelligently and intuitively. Praxify's solutions transform the EHR experience for clinicians with streamlined workflows, intuitive mobile interfaces and real-time analytical feedback. Founded in 2010 with a vision to make health IT seamless, intelligent, and helpful, Praxify's founders conducted comprehensive studies to determine where EHRs and decision support systems fall short for clinicians and patients. Praxify's team of world class clinicians, designers, and technologists continues to reinvent the way doctors work with data, achieving remarkable gains in productivity, portability, and clinical insight.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-29 Quatris Healthco

Bedford, Texas, United States

Quatris Healthco is a provider of specialized healthcare software and database solutions, as well as hosting, software maintenance, and support services for small and medium-sized physician practices. Quatris Healthco was established in 2013 and is based in Bedford, Texas.

Buy -

Seller(S) 1

SELLER

Veritas Capital

New York, New York, United States

Category Private Equity Firm
Founded 1992
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Veritas Capital is a private equity investment firm that targets investments in defense, aerospace, government services, media/telecommunications, consumer products, and specialty manufacturing companies. Veritas generally partners with management when pursuing investments. Prospective transaction situations include buyouts, growth capital investments, and leveraged recapitalizations. Veritas Capital was established in 1992 and is based in New York, New York.


DEAL STATS #
Overall 20 of 28
Sector: Software M&A 2 of 3
Type: Merger M&A Deals 2 of 3
State: Massachusetts M&A 2 of 3
Country: United States M&A 20 of 28
Year: 2019 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-20 Centricity Contingent Staffing

Hartford, Wisconsin, United States

Centricity Contingent Staffing is a provider of human capital management solutions to the healthcare industry including time and attendance, staffing and scheduling, patient classification, payroll, human resource, productivity management and education tracking software.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-16 Anthology

Boca Raton, Florida, United States

Anthology is a provider of administrative software solutions to higher education, nonprofit organizations, and other learning industries. Anthology's product suite includes student information systems, constituent relationship management, enterprise resource planning, student and alumni engagement, retention, and compliance solutions. Anthology was founded in 1988 and is based in Boca Raton, Florida.

Buy -