athenahealth Inc. (NASDAQ:ATHN) has priced its IPO at $18.00, which is above the $14.00 to $16.00 proposed range. The IPO of 6.286 million shares has 5 million shares being sold by the company and the balance being sold by shareholders.
The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 943,023 shares at the initial public offering price. Goldman Sachs and Merrill Lynch were the joint book-runners, and Piper Jaffray and Jefferies are the listed co-managers.
athenahealth in short is a web-based doctor and medical practice revenue cycle management solution. In other words, it aims to increase collections, receive payments faster, and gain visibility into claims.
Jon C. Ogg
September 20, 2007