November 23, 2021 – Private-equity firms Hellman & Friedman LLC and Bain Capital on Monday agreed to buy Athenahealth for $17 billion, the latest sign of rising interest in companies powering the healthcare sector’s shift to the cloud, according to Reuters.
Companies providing cloud-based solutions to the healthcare sector have enjoyed a demand surge during the COVID-19 pandemic as home-bound people turn to the web for their medical needs.
The boom has sparked several deals in the sector, including Microsoft Corp’s $16 billion buyout of Nuance Communications Inc in April.
The healthcare industry has also seen a rise in dealmaking by private-equity firms, which have joined hands this year to acquire companies for huge sums.
Blackstone (BX.N), Carlyle Group (CG.O) and Hellman & Friedman together agreed to buy medical supply and equipment company Medline Industries Inc in June for $34 billion, including debt.