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Bain Capital, Hellman near Athenahealth buyout deal

by Mike Robinson

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© Reuters. FILE PHOTO – The logo for Bain Capital appears on the screen at a Tokyo news conference, Japan. October 5, 2017. REUTERS/Kim Kyung-Hoon

(Reuters) – Private-equity firms Bain Capital and Hellman & Friedman LLC are close to a deal to acquire healthcare technology company Athenahealth Inc for about $17 billion including debt, the Wall Street Journal reported on Friday, citing people familiar with the matter.

According to reports, the deal with Athenahealth could close in the next few days. Athenahealth provides cloud-based software for healthcare organisations.

It was revealed that Veritas Capital, a private equity firm, and Elliott Investment, a hedge fund were looking at options for Athenahealth. These could include a sale of the company or an initial public offering. The potential value of Athenahealth is up to $20 Billion.

Veritas, Elliott Investment and Veritas partnered together in 2018 on a $5.7 Billion deal to take Athenahealth privatized. The company then merged with the healthcare business Vertias acquired. General Electric (NYSE:).

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