A team of Goodwin Procter attorneys recently advised athenahealth, Inc. (NASDAQ: ATHN), a provider of cloud-based electronic health records, practice management and care coordination services to doctors and hospitals, in its planned $293 million acquisition of Epocrates, Inc. (NASDAQ: EPOC), a developer and provider of one of the most widely-used clinical information tools among healthcare professionals.
Athenahealth and Epocrates agreed to a share price of $11.75, representing a 22% premium over the closing price for Epocrates on January 4, 2013. Athenahealth will continue to use Epocrates’ name and will integrate Epocrates’ app with its own services related to clinical workflow management and payment processing for patient visits and procedures. The transaction is subject to shareholder approval and is expected to close in the second quarter of 2013.
Based in Watertown, Mass., athenahealth is a provider of cloud-based Best in KLAS electronic health record, practice management and care coordination services to medical groups and health systems.
Epocrates, located in San Mateo, Calif., is widely recognized by healthcare professionals for its market leading mobile healthcare app and has more than one million healthcare professionals, including an estimated 50% of U.S. physicians, routinely using its software to streamline workflow and improve patient care.
Additional details are available in the press release issued by athenahealth.