AthenaHealth acquired by Veritas, Elliott for $5.7 Billion
With $1.1 Billion in revenue, Athena Health has been sold to the Veritas Capital and Evergreen Coast Capital; a private equity firm. AthenaHealth will continue to operate as an individual identity but would eventually be merged with Virence Health, a software firm better known as Value-Based Care Solutions Group before its acquisition by the Veritas Group.
When the company is combined, it would be led by a Virence Chairman and the CEO Bob Segert. AthenaHealth has been going through several takeover attempts since the year 2017. Based on the interviews conducted by the Republican Journal, employees are facing serious tension since the acquisition has been carried out. Employees are unsure about how things will unfold in the future for them as well as for the company.
With this much doubt in the working environment, conditions for the operations of the company could rapidly fall to jeopardy. Even worse, the employees which worked hard for the creation of such a successful company, could eventually leave the firm. This is, however, up to the new leadership of the company; how well they can handle the situation.
The acquisition would be finalized in the year 2019, the newly appointed leadership has stated that it would introduce new opportunities for both the employees and the company. Only time can tell, exactly how the entire situation would unravel.
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