Affiliates of Bain Capital and Hellman & Friedman have agreed to jointly acquire Athenahealth, Inc., a provider of cloud-based enterprise software services for medical groups and health organizations, for $17 billion. The firms purchased Athena from Veritas Capital and Evergreen Coast Capital who will retain a minority investment.

Athenahealth partners with over 140,000 ambulatory care providers through 120 specialties in all 50 US states. The firm’s services enable customers to increase clinical efficiency, optimize financial performance and improve patient care.

Athena’s AthenaOne cloud platform provides modules for patient engagement, revenue cycle, telehealth, and value-based care management. The firm combines SaaS technology with expert services and data-driven insights.

“athenahealth’s technology leadership has differentiated the Company as a next generation cloud-based SaaS technology platform, facilitating innovation in a rapidly evolving and dynamic market,” added Sameer Narang, partner at Hellman & Friedman.

Evercore and Goldman Sachs & Co. LLC. are serving as lead financial advisors, and Milbank LLP as legal advisor, to athenahealth and Veritas Capital. Deutsche Bank Securities Inc., Barclays, Morgan Stanley & Co. LLC., BMO Capital Markets, and BofA Securities, Inc. are serving as financial advisors, and Kirkland & Ellis LLP as legal advisor, to Hellman & Friedman and Bain Capital.