Athenahealth Group's Acquisition is Approved by CCI

The Competition Commission of India (CCI) approves the acquisition of athenahealth Group, Inc. by funds managed and advised by H&F, Bain, and GICSI.

The proposed combination pertains to the proposed acquisition of athenahealth Group, Inc. (Target) by Hellman & Friedman Capital Partners X, L.P., Hellman & Friedman Capital Partners X (parallel), L.P., HFCP X (parallel-a), L.P., H&F Executives X, L.P., H&F Executives X-A, L.P. and H&F Associates X, L.P.( Funds managed and advised by Hellman Friedman LLC (H&F)), Bain Capital Fund XIII, L.P., Bain Capital Fund (lux) XIII, SCSP, (Funds managed and advised by Bain Capital Investors LLC (Bain)), Viggo Investment Pte. Ltd. (Investment holding vehicle managed and advised by GIC Special Investments Pte. Ltd. (GICSI)), and Minerva Holdco, Inc. (Acquirers).

The Acquirers have been established as parallel special purpose vehicles. Their primary business activity is to invest funds with the objective of achieving appreciation of capital invested.

The Target is a company headquartered in Massachusetts, USA. It is a cloud-based provider of medical record, revenue cycle, patient engagement, care coordination, and population health services, as well as point-of-care mobile applications. These products and services are designed for the healthcare industry, specifically serving medical practices, hospitals and health systems and health plans. Target holds a minority interest in Access Healthcare Services Private Limited (Access), which provides services related to revenue cycle management in the health segments to customers located in India.

As a result of the Proposed Combination, the Acquirers will acquire indirect, joint control of the Target through Minerva Parent, LP and its wholly controlled subsidiary, Minerva Bidco Inc., in terms of the Competition Act, 2002.