Schulte advised Veritas Capital and its affiliates in the definitive agreement to acquire athenahealth Inc., a provider of network-enabled services for hospital and ambulatory customers nationwide, for approximately $5.7 billion in cash. Upon closing, Veritas and its affiliates, along with Evergreen Coast Capital, plan to combine athenahealth with Virence Health, the GE Healthcare value-based care assets that Veritas acquired earlier this year. This combination is expected to create a market-leading healthcare information technology company that provides an extensive national provider network of customers and world-class products and solutions. The transaction was announced on Nov. 12, 2018, and is expected to close in the first quarter of 2019.
The Schulte team advising Veritas Capital was led by M&A and securities partner Richard Presutti and associates Matthew Gruenberg and Evelyn Liristis. The team also included employment & employee benefits partner Ian Levin, tax partner David Passey and finance partner Ronald Risdon.