Schulte advised Veritas Capital and its affiliates on Veritas’ acquisition of athenahealth Inc., a provider of network-enabled services for hospital and ambulatory customers nationwide, for approximately $5.7 billion in cash. Upon closing, Veritas, along with Evergreen Coast Capital, combined athenahealth with Virence Health, the GE Healthcare value-based care assets that Veritas acquired in 2018. The newly combined market-leading healthcare information technology company provides an extensive national provider network of customers and world-class products and solutions. The transaction was announced on Nov. 12, 2018 and closed Feb. 11, 2019.
The Schulte team advising Veritas Capital was led by M&A and securities partner Richard Presutti, special counsel Matthew Gruenberg and associates Evelyn Liristis, Lowell Dyer, Matthew Silberman and Victoria Peluso. The team also included employment & employee benefits partner Ian Levin; tax partner David Passey and associate Philip Cooke; and finance partner Ronald Risdon.