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Elliott Management proposes $6.5 billion takeover of athenahealth

May 07, 2018 / Bernie Monegain

Activist investor Elliott Management is pressing athenahealth CEO Jonathan Bush to sell the cloud-based EHR company he co-founded in 1997. Shares of athenahealth jumped more than 23 percent on the news. Bush, who is in the midst of retooling the company, said in a statement Monday that the board of directors would "carefully review the proposal to determine the course of action that it believes is in the best interest" of the company and shareholders. To date, athenahealth has managed to fend off the circling New York hedge fund, which is headed by Paul Singer.