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Hellman & Friedman, Bain Capital to buy Athenahealth for $17 billion -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: The brand of Bain Capital is displayed on the display screen throughout a information convention in Tokyo, Japan October 5, 2017. REUTERS/Kim Kyung-Hoon

(Reuters) -Athenahealth will probably be purchased by personal fairness companies Hellman & Friedman LLC and Bain Capital for $17 billion, the most recent signal of rising curiosity in corporations driving the healthcare sector’s shift to the cloud.

Demand for synthetic intelligence and cloud-based options that improve productiveness and shield affected person information have boomed in the course of the COVID-19 pandemic.

Microsoft Corp (NASDAQ:) earlier this 12 months struck a $16 billion deal to purchase Nuance Communications (NASDAQ:) Inc, a supplier of clever options akin to scientific speech recognition, medical transcription and medical imaging.

Privately held Athenahealth provides a software program that can be utilized to prepare affected person visits, doc sufferers’ scientific data and monitor and acquire funds.

Its buy, introduced on Monday, is anticipated to shut within the first quarter of 2022.

Evergreen, hedge fund Elliott’s personal fairness arm, and funding agency Veritas had taken Athenahealth personal in 2019 in a $5.7 billion deal.

The corporate was then merged with Virence Well being, a healthcare software program supplier that Veritas had beforehand acquired from Common Electrical (NYSE:) Co.

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