Alpharetta, Georgia-based nThrive, which offers revenue cycle solutions, has proposed a merger with EHR vendor athenahealth, according to the New York Post.
Sources said the deal would likely keep an athenahealth share price in the $135 range. Though discussions around the possible merger continue, sources told the New York Post they could still fall apart.
Private equity firm Pamplona Capital Management owns nThrive, which provides revenue cycle technology, patient access solutions, value-based care tools and more. Its clients include hospitals and health systems. Founded in 1998, the company was previously known as MedAssets-Precyse and Equation.
nThrive did not immediately respond to a request for comment.
There have been a few question marks surrounding athenahealth’s future for months.
In May, Elliott Management made a $6.9 billion offer for the Watertown, Massachusetts company at $160 per share. The firm was aggressive in pursuing athenahealth, sending multiple letters urging the vendor to carefully consider a sale.
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Shortly thereafter, Jonathan Bush stepped down from his positions of president, CEO and a member of the board of directors. His departure came after he admitted to physically attacking his ex-wife and as allegations of his inappropriate behavior at athenahealth were brought into the spotlight.
In mid-September, the New York Post reported Elliott had backed away from its $160-per-share bid for athenahealth, but that it may also be considering making an offer at a lower price.
Yet a day after the New York Post article ran, a source with knowledge of the process told MedCity that Elliott remained engaged and was working toward submitting a bid.
We’ll have to wait and see what the future holds for athenahealth.
Photo: Nasco, Getty Images