Healthcare technology company athenahealth Inc. has drawn interest from at least five potential buyers, Bloomberg News reported, citing anonymous sources.
Private equity firms Bain Capital LP, Hellman & Friedman LLC, Clayton Dubiliar & Rice and TPG Capital Management LP are among the potential bidders involved in an auction for the company.
Activist investor Elliott Management Corp., which has a 9% stake in athenahealth, is also exploring a bid for the company, according to Bloomberg. Previous reports indicated that Elliott was considering lowering its original bid of $160.
Athenahealth has reportedly received indications of interest that value the company at more than $135 per share. Final bids are due by the end of October.
Massachusetts-based athenahealth said in June that it was considering a sale, merger or other transaction as part of a strategic review of the business that was initiated when President and CEO Jonathan Bush left the company.