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Athenahealth To Acquire Epocrates for $293 Million

January 7, 2013 News 1 Comment

1-7-2013 7-53-53 AM

Athenahealth announced this morning that it has signed a definitive agreement to acquire mobile application and clinical reference data vendor Epocrates for $11.75 per share, representing a 22 percent premium over Friday’s closing share price. The all-cash transaction is valued at $293 million.

Jonathan Bush, president, chairman, and CEO of athenahealth, said of the acquisition, “I have been an admirer of Epocrates since it first emerged and have watched the company grow consistently, one app download at a time, as it has cemented itself into the consciousness of America’s physicians. No other company has been able to replicate the brand awareness, familiarity, and trust that Epocrates has across the clinical mobile user base. We are confident that we can provide Epocrates with the stewardship and resources it needs to grow and develop within health care, and that Epocrates’ capabilities are going to mesh exceptionally well with athenahealth’s cloud-based physician and patient services. Together, we’re excited by the opportunity to redefine the mobile toolset for care givers.”

1-7-2013 8-07-48 AM

Epocrates held its IPO in February 2011. Shares rose quickly from the $13-15 opening range to over $26, but have traded mostly below $10 for the past 16 months. The two-year share price chart above shows Epocrates (blue) and athenahealth (red).

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Currently there is "1 comment" on this Article:

  1. So athena is buying a mobile app with reference material sponsored by drug manufacturers. how does this make their EHR better again? if they had $290 million to spend, why not use that to make the software better?







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