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athenahealth closes on purchase of Northport, Maine facility

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WATERTOWN, Mass.--(BUSINESS WIRE)-- athenahealth, Inc. (NASDAQ: ATHN), a leading provider of cloud-based practice management, electronic health record (EHR), and patient communication services to medical groups, today announced that it has closed on the purchase of property in Northport, Maine for $7.7 million. Known as “Point Lookout,” the property sits in close proximity to athenahealth’s operations center in Belfast, where there are currently more than 300 employees.

The Point Lookout facility will serve as the company’s new client and employee training center, where athenahealth management will convene with existing and prospective large group and enterprise clients to counsel, train and facilitate the implementation of athenahealth’s service offerings, and to support a new level of client collaboration as the company continues to develop its cloud-based services. In addition, it will be used to convene providers to engage on critical issues affecting investments in healthcare information technology, such as meaningful use and health information exchange. The facility will also be used to host athenahealth employee education, training and development sessions.

The new facility enables athenahealth to capture a unique business opportunity by bringing provider groups and specialties together at a time when approximately one-third of athenahealth’s new EHR clients have experienced stalled or failed legacy software EHR implementations with the vendors they selected prior to choosing to partner with athenahealth.

“We were excited when this property became available since we have used it historically and it extends our footprint as a Mid-Coast Maine employer,” said Jonathan Bush, CEO and chairman, athenahealth. “In the lifecycle of our clinical offering, and with the reality of so many health care enterprises and medical groups coming to us after failed EHR implementations, this move gives us a physical asset that can serve as an educational, training and collaboration hub for prospective and current clients. We believe this investment will enable us to support the growth of our client base and our ability to retain clients over the long-term.”

The new athenahealth training center will be housed on over 396 acres of real estate overlooking Penobscot Bay within Maine’s Mid-Coast Region, and includes 106-one, two and three-bedroom secluded cabins that can accommodate 260 guests. The facility will continue to be open to the public for events and accommodation to cover the costs of owning the facility. The ongoing operating costs for this facility are not expected to have a material impact on the company’s financial results.

Todd Rothenhaus, MD, athenahealth’s chief medical information officer added, “With all of the change taking place in the industry, physicians and health care leaders need some solid ground under their feet. We believe athenahealth’s new training center will provide just that: a place to share ideas, question the status quo, and spark innovation across health care.”

 


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