Athenahealth Buys Anodyne Health For $22.3M

WATERTOWN, Mass. (AP) — Athenahealth Inc., which provides Internet-based business services for physician practices, on Monday said it struck a deal to buy software maker Anodyne Health Partners Inc.

Athenahealth will pay $22.3 million for the Alpharetta, Ga.-based Anodyne, with the potential for up to $7.7 million more based on reaching certain business and financial milestones.

Anodyne Health currently has more than 14,000 medical providers under contract for its Web-based software platform Anodyne Intelligence and related services. The software allows a medical practice to view details of its financial operations.

Anodyne also has a business process outsourcing unit which is excluded from the acquisition and will be spun off into a separate company.

Athenahealth said Anodyne will operate as a separate unit with its own brand. Its information reporting capabilities will be integrated into Athenahealth products.

Athenahealth did not say when it expects the deal to close. Costs related to the acquisition will run about 3 cents per share, it said.

Athenahealth shares closed up 4 cents at $37.13 in Monday trading, before the deal was announced.