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athenahealth Inc Signs Definitive Agreement To Acquire Epocrates, Inc

Monday, 7 Jan 2013 07:30am EST 

athenahealth Inc announced that it has signed a definitive agreement to acquire Epocrates, Inc. a mobile health pioneer widely recognized for developing the widely adopted point-of-care medical application among U.S. physicians. The board of directors of each of athenahealth and Epocrates has agreed to a price of $11.75 per share, in cash, for an aggregate purchase price of approximately $293 million. The purchase price represents a 22% premium over the closing price per share of Epocrates on NASDAQ on January 4, 2013. This is an all-cash offer for all outstanding shares of Epocrates` common stock, and athenahealth intends to finance this acquisition using available cash and funds available from its existing credit facility. The closing of the transaction is expected to occur early in the second quarter of 2013. Epocrates shareholders representing approximately 17.5% of the outstanding common stock have agreed to vote their shares in favor of the transaction. Piper Jaffray & Co. acted as exclusive financial advisor to Epocrates in connection with the transaction. Goodwin Procter LLP served as athenahealth`s legal counsel and Cooley LLP served as counsel to Epocrates. 

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0.41 +0.32%
11 Jul 2014