CELEX: 32022M10576
Language: en
Date: 2022-02-01 00:00:00
Title: Commission Decision of 01/02/2022 declaring a concentration to be compatible with the common market (Case No COMP/M.10576 - BAIN CAPITAL / HELLMAN & FRIEDMAN / ATHENAHEALTH GROUP) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                 Brussels, 01/02/2022
                                                                 C(2022) 688 final
                                                                                 PUBLIC VERSION
                                                                 Bain Capital Investors, LLC
                                                                 200 Claredon Street
                                                                 Boston, Massachusetts 02116
                                                                 United States of America
                                                                 Hellman & Friedman LLC
                                                                 415 Mission Street, Suite 5700
                                                                 San Francisco, CA 94105
                                                                 United States of America
Subject:        Case M.10576 – BAIN CAPITAL / HELLMAN & FRIEDMAN /
                ATHENAHEALTH GROUP
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                Economic Area2
Dear Sir or Madam,
1.      On 10 January 2022, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Bain Capital
        Investors, LLC (“Bain Capital”, United States of America) and Hellman & Friedman
        LLC (“Hellman & Friedman”, United States of America) intend to acquire, within the
        meaning of Articles 3(1)(b) and 3(4) of the Merger Regulation, joint control of the
        whole of athenahealth Group Inc. (“athenahealth”, United States of America). The
        concentration is accomplished by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             for Bain Capital: private equity investment firm that invests in companies across a
              number of industries, including information technology, healthcare, retail and
              consumer           products,         communications,        financial        services     and
              industrial/manufacturing,
1       OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on
        the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the
        replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology
        of the TFEU will be used throughout this decision.
2       OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).
3       Publication in the Official Journal of the European Union No C 23, 17.1.2022, p. 12.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.
 ---pagebreak---        for Hellman & Friedman: private equity firm focused on market-leading firms
        with growth potential, and has investments in a variety of sectors worldwide,
       for athenahealth: cloud-based provider of medical record, revenue cycle, patient
        engagement, care coordination, and population health services, as well as point-
        of-care mobile applications.
3. After examination of the notification, the European Commission has concluded that
   the notified operation falls within the scope of the Merger Regulation and of
   paragraphs 5(a) and 5(b) of the Commission Notice on a simplified procedure for
   treatment of certain concentrations under Council Regulation (EC) No 139/2004.4
4. For the reasons set out in the Notice on a simplified procedure, the European
   Commission has decided not to oppose the notified operation and to declare it
   compatible with the internal market and with the EEA Agreement. This decision is
   adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of
   the EEA Agreement.
                                                  For the Commission
                                                  (Signed)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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