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athenahealth, Inc.
Type
Public
Traded as NASDAQ: ATHN
Industry Healthcare Technology
Founded 1997
Founders Jonathan Bush Chief Executive Officer
Todd Park Former Chief Technology Officer of the United States,
Headquarters Watertown, Massachusetts
Products athenaCollector (revenue cycle management, medical billing), athenaClinicals (electronic health records), athenaCommunicator (patient engagement, care coordination), Epocrates, and athenahealth Population Health (population health management)
Revenue US$100.8 million (2007), Increase $1.08 billion (December, 2016)
Number of employees
5,528 (as of June 2017)
Website athenahealth.com

athenahealth, Inc. is a publicly traded American company that provides network-enabled services for healthcare and point-of-care mobile apps to drive clinical and financial results for its hospital and ambulatory clients in the United States. athenahealth has a network of more than 100,000 providers and 98 million patients and offers a suite of services to manage medical records, revenue cycle, patient engagement, care coordination, and population health.

The company was founded in 1997 in San Diego, California; it is now headquartered in Watertown, Massachusetts and has grown to include operational sites in Belfast, Maine; Atlanta, Georgia; Austin, Texas; Princeton, New Jersey; and Chennai, Bangalore, and Pune, India.

athenahealth began in 1997 as Athena Women's Health, a women's health and birthing center in San Diego, California. Cofounders Jonathan Bush and Todd Park set out to create a comfortable and comprehensive center, where mothers could receive "a warm and supportive environment, personal attention, better care, and superior results" while the back-end business was "a ruthlessly efficient operation, with a laser focus on costs."

The birthing center excelled at delivering healthy babies: Only 10% of babies were delivered by C-section, one third of the national average, and 90% of mothers were able to breastfeed their newborns, beating the national average of 67% at the time. Yet while quality increased, costs followed in suit, and Bush and Park eventually closed their birthing center and started a medical data company called athenahealth on the heels of the Internet boom of 1999.

In 1998, venture funder Mark Wilson offered to buy athenahealth’s software for $11 million. Bush and Park turned down the offer but followed Wilson’s instinct, transitioning from a business model from birthing centers to a vision of building the healthcare internet. They transformed Athena Women’s Health to athenahealth, Inc., pulling in Ed Park, Park’s younger brother and engineer, to develop a practice management system. Leaving clinical work in the hands of capable providers, their new business endeavor aimed to “let doctors be doctors” and remove incessant and burdensome paperwork off doctors’ desks.

The start of 2000 saw two important moments in time: athenahealth’s first client, Anchor Medical Associates, went live on athenaCollector; and in February, its first electronic claim was submitted. While its first office opened its doors in Waltham, Massachusetts in 2002, athenahealth moved to Watertown, Massachusetts in 2005 and is still headquartered there today.

athenahealth announced an initial public offering of its common stock on June 22, 2007. The offering was completed on September 20, 2007, at a price of $18 per share. It trades on the NASDAQ exchange under the symbol ATHN.

Since moving its headquarters to Watertown in 2005, athenahealth has created campuses in: Chennai, India, in 2005; Belfast, Maine, in 2008; Princeton, New Jersey, in 2013; Atlanta, Georgia, and San Francisco, California, in 2014; Austin, Texas, in 2015; and Bangalore and Pune, India, in 2017.

athenaOne is athenahealth's fully integrated suite of cloud-based services, combining practice management (athenaCollector), an electronic health record (EHR) system (athenaClinicals), and care coordination (athenaCommunicator) into a single packaged offering.

athenahealth’s first product, athenaCollector, a cloud-based revenue cycle and practice management service, rolled out in 2000. Built by Ed Park, the revenue cycle management system formed the foundation of athenaNet, athenahealth’s web-based system at large. (Ed Park would go on to become athenahealth’s Chief Operating Officer and member of its board.)

In 2006, the company launched athenaClinicals, reported as the "first economically sustainable, service-based" electronic medical records (EMR) system. athenaClinicals has been ranked as leading the market in EHR usability, due to its productivity and ability to reduce providers’ work, effectiveness of delivering patient care, and intuitive user interface.

In 2008, athenahealth introduced athenaCommunicator to manage phone calls. Since then, the product has evolved into a suite of "patient engagement services," including a patient portal, patient self-scheduling solution, and live operator service to better help patients to schedule appointments, reschedule appointments, and make payments.

In 2013, the company purchased the Epocrates mobile brand, and continued to occupy Epocrates’s offices in Princeton, New Jersey and San Francisco, California. As an athenahealth service, Epocrates aggregates treatment information, including dosing and contraindications, to provide clinical decision support in the prescribing moments of care.

Epocrates drug monographs have also been embedded into the athenaClinicals EHR system to enhance productivity and reduce time not spent on patients.

athenahealth's More Disruption Please (MDP) program was launched in 2011. The initiative is both a partner program and an incubator environment for independent companies to develop products and services connected to athenahealth's ecosystem.

In 2014, athenahealth created the More Disruption Please accelerator, an opportunity for young startups still finding their legs to begin developing in athenahealth’s MDP space. “The goal of [the MDP accelerator] is to lower the barrier of entry for the best solutions to help us build the healthcare Internet,” said Mandira Singh, director of the More Disruption Please program. In its first full year, the accelerator added five companies to its portfolio.

athenahealth launched MDP Labs in 2017. The program invites all entrepreneurs, from fledgling startups to mature companies, to innovate in healthcare and fix what’s broken. athenahealth’s MDP Labs offers workspace in its downtown San Francisco office, tailored programming, dedicated mentorship, opportunities for partnerships and funding, and exposure to potential clients.

In January 2015, athenahealth announced the acquisition of RazorInsights, a "leader in cloud-based EHR and financial solutions" for rural, critical access, and community hospitals. The purchase extended athenahealth’s established position in the outpatient market into the 50-bed and under inpatient care environment, which makes up nearly one third of the hospital market.

In February 2015, athenahealth announced that it had purchased webOMR, the web-based clinical applications and EHR platform developed by Boston’s Beth Israel Deaconess Medical Center. athenahealth collaborated with BIDMC on the development of athenahealth's acute care service offering, using Beth Israel Deaconess Hospital-Needham, a 58-bed community hospital, as the alpha development site.

athenahealth announced its acquisition of Praxify Technologies in June 2017. Praxify’s platform strategy and mobile capabilities enable seamless workflows and communication at moments of care, and its technology will be integrated into athenahealth’s cloud-based platform, allowing for meaningful collaborations between developers on forthcoming applications.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2018 2019-02-01 0.00 0.00
Q3 2018 2018-11-09 0.96 0.64
Q2 2018 2018-07-30 1.08 0.89
Q1 2018 2018-04-26 0.96 0.76
Q4 2017 2018-02-01 1.11 0.78
Q3 2017 2017-10-19 0.56 0.32
Q2 2017 2017-07-20 0.51 0.24
Q1 2017 2017-04-27 0.32 -0.03
Q4 2016 2017-02-02 0.62 0.24
Q3 2016 2016-10-20 0.60 0.35

Ratings

2016-06-29 Reiterated Rating Canaccord Genuity Hold $142.00
2016-06-16 Reiterated Rating Leerink Swann Hold
2016-05-22 Reiterated Rating Deutsche Bank Buy $165.00
2016-05-22 Reiterated Rating KeyBanc Hold
2016-05-22 Reiterated Rating KeyCorp Hold
2016-05-22 Reiterated Rating Deutsche Bank AG Buy $165.00
2016-05-17 Reiterated Rating Piper Jaffray Overweight $174.00
2016-05-17 Reiterated Rating Piper Jaffray Cos. Overweight $174.00
2016-05-03 Reiterated Rating Leerink Swann Hold
2016-05-02 Reiterated Rating JPMorgan Chase & Co. Buy $170.00
2016-04-26 Reiterated Rating Robert W. Baird Buy
2016-04-25 Reiterated Rating Oppenheimer Buy
2016-04-25 Reiterated Rating Oppenheimer Holdings Inc. Buy
2016-04-17 Reiterated Rating Deutsche Bank Buy
2016-04-15 Reiterated Rating FBR & Co. Hold
2016-04-15 Reiterated Rating FBR & Co Hold
2016-04-14 Reiterated Rating Leerink Swann Hold
2016-04-05 Reiterated Rating Deutsche Bank Buy
2016-02-08 Upgrade Topeka Capital Markets Hold to Buy $169.00 to $160.00
2016-02-08 Lower Price Target Leerink Swann Market Perform $175.00 to $150.00
2016-02-08 Lower Price Target Goldman Sachs Neutral $155.00 to $149.00
2016-02-08 Lower Price Target Goldman Sachs Group Inc. Neutral $155.00 to $149.00
2016-02-05 Reiterated Rating Cowen and Company Outperform $174.00 to $162.00
2016-02-05 Reiterated Rating FBR & Co. Hold $135.00
2016-02-05 Reiterated Rating Canaccord Genuity Hold $140.00
2016-01-22 Reiterated Rating Canaccord Genuity Hold $140.00
2015-12-14 Boost Price Target Topeka Capital Markets Hold $164.00 to $169.00
2015-12-11 Reiterated Rating Barclays Sell $110.00
2015-12-11 Boost Price Target Leerink Swann Market Perform $165.00 to $175.00
2015-12-11 Reiterated Rating Canaccord Genuity Hold $140.00
2015-12-11 Reiterated Rating Barclays PLC Sell $110.00
2015-12-10 Reiterated Rating FBR & Co. Market Perform $135.00
2015-12-09 Reiterated Rating Deutsche Bank Buy
2015-12-04 Boost Price Target Cowen and Company Outperform $165.00 to $174.00
2015-12-02 Reiterated Rating Jefferies Group Sell
2015-12-02 Reiterated Rating Canaccord Genuity Underperform to Hold $105.00 to $105.00
2015-11-19 Reiterated Rating FBR & Co. Market Perform $135.00
2015-11-17 Initiated Coverage JPMorgan Chase & Co. Overweight $170.00
2015-11-17 Downgrade Barclays Equal Weight to Underweight $140.00 to $110.00
2015-10-26 Reiterated Rating Canaccord Genuity Hold $140.00
2015-10-26 Boost Price Target Barclays Equal Weight $120.00 to $140.00
2015-10-26 Boost Price Target Oppenheimer Outperform $168.00 to $185.00
2015-10-26 Downgrade Leerink Swann Outperform to Market Perform
2015-10-26 Reiterated Rating Stifel Nicolaus Buy $180.00 to $190.00
2015-10-26 Downgrade Topeka Capital Markets Buy to Hold $153.00 to $164.00
2015-10-26 Boost Price Target RBC Capital Underperform $80.00 to $105.00
2015-10-26 Boost Price Target Royal Bank Of Canada Underperform $80.00 to $105.00
2015-10-25 Reiterated Rating Cowen and Company Buy $165.00
2015-10-23 Upgrade Raymond James Market Perform to Outperform $160.00
2015-10-23 Upgrade Raymond James Financial Inc. Market Perform to Outperform $160.00
2015-10-21 Initiated Coverage Avondale Partners Market Perform $175.00
2015-10-20 Reiterated Rating Piper Jaffray Buy
2015-10-19 Reiterated Rating Canaccord Genuity Buy $125.00
2015-10-16 Downgrade Jefferies Group Hold to Underperform $125.00 to $105.00
2015-09-11 Reiterated Rating Piper Jaffray Overweight $173.00
2015-07-27 Reiterated Rating Topeka Capital Markets Buy $150.00 to $153.00
2015-07-23 Reiterated Rating Canaccord Genuity Hold $125.00
2015-07-16 Initiated Coverage Canaccord Genuity Hold to Hold $125.00
2015-07-15 Reiterated Rating Avondale Partners Hold $125.00
2015-07-02 Reiterated Rating Deutsche Bank Buy
2015-06-18 Initiated Coverage Stephens Outperform $168.00
2015-06-17 Initiated Coverage Oppenheimer Outperform $168.00
2015-06-12 Lower Price Target Topeka Capital Markets Buy $152.00 to $150.00
2015-05-04 Lower Price Target Topeka Capital Markets Buy $164.00 to $152.00
2015-04-14 Set Price Target Jefferies Group Hold $145.00
2015-04-13 Set Price Target Leerink Swann Buy $180.00
2015-03-19 Initiated Coverage Robert W. Baird Outperform $165.00
2015-02-09 Reiterated Rating Morgan Stanley Buy
2015-02-09 Boost Price Target Oppenheimer Underperform $90.00 to $94.00
2015-02-04 Upgrade Compass Point Market Perform to Outperform $134.00 to $172.00
2015-02-04 Upgrade Cowen and Company Market Perform to Outperform $134.00 to $172.00
2015-01-29 Boost Price Target Leerink Swann Outperform $150.00 to $165.00
2015-01-15 Boost Price Target Stifel Nicolaus Buy $155.00 to $180.00
2015-01-08 Boost Price Target JPMorgan Chase & Co. Overweight $165.00 to $170.00
2014-12-23 Boost Price Target Topeka Capital Markets Buy $137.00 to $164.00
2014-12-22 Reiterated Rating Piper Jaffray Buy
2014-12-12 Reiterated Rating Citigroup Inc. Buy $180.00 to $175.00
2014-12-11 Lower Price Target FBR & Co. Market Perform $120.00 to $110.00
2014-12-10 Reiterated Rating Deutsche Bank Buy
2014-12-09 Lower Price Target JPMorgan Chase & Co. Overweight $170.00 to $165.00
2014-11-20 Downgrade RBC Capital Sector Perform to Underperform $115.00 to $80.00
2014-10-21 Reiterated FBR Capital Mkt Perform $134 to $120
2014-10-21 Lower Price Target FBR & Co. Market Perform $134.00 to $120.00
2014-10-20 Reiterated Rating Barclays Equal Weight $128.00 to $120.00
2014-10-20 Lower Price Target RBC Capital Sector Perform $140.00 to $115.00
2014-10-17 Lower Price Target Topeka Capital Markets Buy $144.00 to $137.00
2014-07-21 Lower Price Target Topeka Capital Markets Buy $145.00 to $144.00
2014-07-21 Reiterated Rating Barclays Equal Weight $125.00 to $128.00
2014-07-21 Reiterated Rating JPMorgan Chase & Co. Overweight $185.00 to $170.00
2014-07-21 Reiterated Rating Citigroup Inc. Buy $200.00 to $180.00
2014-07-18 Reiterated ISI Group Neutral $137 to $130
2014-07-18 Lower Price Target Evercore ISI Neutral $137.00 to $130.00
2014-06-25 Initiated Coverage Stifel Nicolaus Overweight $192.00
2014-06-17 Initiated Stifel Buy $155
2014-06-17 Initiated Coverage Stifel Nicolaus Buy $155.00
2014-06-13 Initiated Topeka Capital Markets Buy $145
2014-06-12 Initiated Coverage Topeka Capital Markets Buy $145.00
2014-05-12 Reiterated Rating Morgan Stanley Overweight $192.00
2014-05-07 Lower Price Target Oppenheimer Underperform $120.00 to $90.00
2014-05-02 Reiterated ISI Group Neutral $159 to $138
2014-05-02 Lower Price Target Evercore ISI Neutral $159.00 to $138.00
2014-04-28 Upgrade Ned Davis Research Sell to Neutral
2014-04-23 Upgrade Morgan Stanley Equal Weight to Overweight $133.00 to $192.00
2014-04-22 Reiterated Rating Citigroup Inc. Buy $200.00
2014-04-22 Upgrade SunTrust Neutral to Buy $170.00
2014-04-21 Reiterated ISI Group Neutral $163 to $159
2014-04-21 Lower Price Target Deutsche Bank Buy $224.00 to $182.00
2014-04-21 Lower Price Target B. Riley Neutral $150.00
2014-04-21 Reiterated Rating Morgan Stanley Strong-Buy to Equal Weight $133.00
2014-04-21 Reiterated Rating Cowen and Company Market Perform $186.00 to $182.00
2014-04-21 Lower Price Target RBC Capital Sector Perform $180.00 to $140.00
2014-04-21 Boost Price Target FBR & Co. Market Perform $115.00 to $125.00
2014-04-21 Lower Price Target Evercore ISI Neutral $163.00 to $159.00
2014-04-21 Upgrade Jefferies Group Underperform to Hold $135.00 to $145.00
2014-04-17 Lower Price Target Oppenheimer $140.00 to $120.00
2014-04-15 Reiterated Rating Raymond James Market Perform
2014-03-25 Initiated Coverage SunTrust Neutral $170.00
2014-03-10 Downgrade Oppenheimer Market Perform to Underperform $140.00
2014-03-05 Initiated Coverage Barclays Equal Weight $185.00
2014-02-25 Boost Price Target Sterne Agee CRT Buy $192.00 to $236.00
2014-02-18 Upgrade Robert W. Baird Neutral to Outperform $135.00 to $255.00
2014-02-18 Initiated Coverage Citigroup Inc. Buy
2014-02-13 Initiated Coverage RBC Capital Sector Perform $180.00
2014-02-13 Upgrade Cowen and Company Underperform to Market Perform $123.00 to $186.00
2014-02-10 Reiterated Rating Goldman Sachs Neutral
2014-02-07 Boost Price Target Evercore ISI $143.00 to $176.00
2014-02-07 Boost Price Target Cowen and Company $88.00 to $123.00
2014-02-07 Boost Price Target Sterne Agee CRT $179.00 to $192.00
2013-12-13 Reiterated ISI Group Neutral $126 to $133
2013-12-13 Upgrade Raymond James Outperform to Strong-Buy $150.00
2013-12-13 Upgrade Leerink Swann Market Perform to Outperform $150.00
2013-12-13 Boost Price Target Evercore ISI Neutral $126.00 to $133.00
2013-12-12 Reiterated FBR Capital Mkt Perform $130 to $105
2013-12-12 Lower Price Target FBR & Co. Market Perform $130.00 to $105.00
2013-12-09 Initiated Coverage JPMorgan Chase & Co. Underweight to Overweight $155.00
2013-11-20 Initiated Coverage Deutsche Bank Buy $162.00
2013-10-31 Initiated FBR Capital Mkt Perform $130
2013-10-31 Initiated Coverage FBR & Co. Market Perform $130.00
2013-10-23 Boost Price Target Sterne Agee CRT Hold $179.00
2013-10-22 Boost Price Target B. Riley Neutral $106.00 to $130.00
2013-10-22 Downgrade Raymond James Outperform to Market Perform $120.00
2013-10-21 Reiterated Rating Piper Jaffray Overweight $123.00 to $181.00
2013-10-18 Boost Price Target Robert W. Baird Neutral $104.00 to $125.00
2013-10-18 Reiterated Rating Wells Fargo & Co. Outperform $160.00
2013-10-18 Reiterated Rating Jefferies Group Underperform $60.00 to $75.00
2013-10-18 Upgrade Sterne Agee CRT Neutral to Buy $116.00 to $132.00
2013-10-18 Reiterated Rating Wells Fargo Outperform $160.00
2013-10-14 Reiterated ISI Group Neutral $111 to $118
2013-10-14 Boost Price Target Evercore ISI Neutral $111.00 to $118.00
2013-09-24 Downgrade Leerink Swann Outperform to Market Perform $120.00
2013-02-08 Reiterated ISI Group Neutral $80 to $96
2012-03-15 Downgrade Auriga Hold to Sell
2012-02-17 Reiterated Auriga Hold $47 to $57
2016-06-29 Reiterated Rating Canaccord Genuity Hold $142.00
2016-06-16 Reiterated Rating Leerink Swann Hold
2016-05-22 Reiterated Rating Deutsche Bank Buy $165.00
2016-05-22 Reiterated Rating KeyBanc Hold
2016-05-22 Reiterated Rating KeyCorp Hold

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Bush Jonathan CEO and President 0.88%  (335106) ATHN /
Adams Timothy M CFO & SVP 0.10%  (38185) ATHN / DWRE / MODN /
KAHANE STEPHEN N President, Enterprise Services 0.09%  (35278) ATHN /
Matus Kristi Ann EVP and CFAO 0.09%  (34531) ATHN /
LEVINE MARC A Chief Financial Officer 0.08%  (30411) ATHN / HPQ /
Orenstein Daniel H. SVP, GC, and Secretary 0.08%  (28631) ATHN /
Khot Prakash SVP, Chief Technology Officer 0.07%  (25149) ATHN /
Park Ed EVP and COO 0.06%  (22347) ATHN / CSLT /
Stubelis Karl VP and Corporate Controller 0.05%  (17858) ATHN / SAPE /
Porter Jonathan D. SVP, Network Services 0.05%  (17429) ATHN /
Ittycheria Dev 0.04%  (13438) ATHN / BV /
Haley Daniel P SVP, GC and Secretary 0.03%  (12583) ATHN /
Holman Diane SVP, Chief People Officer 0.03%  (12500) ATHN /
KANE JOHN A 0.03%  (12009) ATHN / MBVT /
KOSECOFF JACQUELINE B 0.03%  (10875) ATHN / CFN / SEE / STE /
Armbrester Bradford Kyle SVP, Chief Product Officer 0.02%  (9464) ATHN /
O'Brien Timothy John SVP, Chief Marketing Officer 0.02%  (8999) ATHN /
IMMELT JEFFREY R 0.02%  (7302) ATHN / GE /
Delinsky Jeremy SVP, Chief Product Officer 0.02%  (7053) ATHN / W /
MANN JAMES L 0.02%  (5710) ATHN / SDS /
Hull Brandon H 0.01%  (5230) ATHN /
Abernethy Amy 0.01%  (4045) ATHN /
ROBINSON DAVID ERIC 0.01%  (3596) ATHN /
SZKUTAK THOMAS J 0.01%  (3056) AMZN / ATHN / INTU /

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