Activist investor Paul Singer takes stake in Athenahealth, and shares surge

"The securities of the business enterprise are appreciably undervalued and constitute an appealing funding opportunity," Singer stated in an SEC filing.
An Athenahealth consultant, in a statement sent to CNBC, stated, "we've got notable self belief in the employer and where we are headed."Paul Singer Athenahealth stocks leap as Elliott takes stake
Thursday, 18 can also 2017 | 9:forty AM ET | 00:55
Athenahealth stocks surged extra than 18 percent Thursday after activist hedge-fund manager Paul Singer of Elliott friends disclosed a 9.2 percent stake in the organization.

Singer stated "the securities of the corporation are considerably undervalued and represent an appealing funding opportunity," in step with an SEC filing.

The submitting also said Singer expects "there are various operational and strategic possibilities to maximize shareholder value and the holder will be seeking to interact in a dialogue with the employer's board regarding those matters."

Singer and Elliott pals may also submit plans, that can include searching for adjustments in management and a sale of the employer or some of its assets.

"we are privy to Elliot's filing and sit up for talking with them to pay attention their views about the company and talk the actions we are taking to force improved boom and price advent for all athenahealth shareholders," said an Athenahealth consultant, in a announcement despatched to CNBC. "we have superb self belief in the enterprise and where we are headed."
Elliott buddies representatives have been no longer right away to be had for remark.

The hedge fund has been an aggressive activist over the years, often concentrated on the organisation's CEO in its marketing campaign.

Athenahealth, a provider of on-line offerings for docs and hospitals, became based by Jonathan Bush, its contemporary CEO and president of the agency.