Athenahealth has multiple bidders for sale of the company
Athenahealth Inc. is attracting interest from at least five potential bidders as the auction for the health record technology company nears an end, according to people familiar with the offers.
Private equity players including Bain Capital, Hellman & Friedman, Clayton, Dubiliar & Rice, and TPG are considering bids for the Watertown company, the people said. Hedge fund Elliott Management Corp., which owns 9 percent of athenahealth, is also weighing a bid, they said.
Athenahealth has received indications of interest above $135 a share, they said, with final bids due by the end of October.
Elliott has been agitating for changes at athenahealth for more than a year, and in May proposed buying the company for $160 per share. In June, chief executive Jonathan Bush stepped down following allegations of misconduct. At the time, the company said it would also explore a sale or merger.
Athenahealth shares closed at $126.61 Friday, valuing the company at almost $5.1 billion.