athenahealth, Inc. Files Registration Statement for Proposed IPO

athenahealth, Inc. last week announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock. Upon effectiveness of the registration statement, the common stock is expected to trade on the NASDAQ Global Market under the symbol “ATHN.”

athenahealth, based in Watertown, MA, provides Web-based business services for physician practices and hospitals. Its key offering, athenaCollector, is a revenue cycle management service that automates and manages billing-related functions.  The company plans to raise as much as $86.25 million in the share sale, according to the SEC filing.

The company’s chairman, CEO and co-founder is Jonathan Bush, a first cousin of President George W. Bush.  According to the investment prospectus, Jonathan Bush owns 5.3 percent, or 1.45 million shares, of the company.

Goldman, Sachs & Co. and Merrill Lynch & Co. will act as joint bookrunners for the proposed offering. Piper Jaffray & Co. and Jefferies & Company, Inc. will act as co-managers, the company said in a release.