athenahealth, Inc. Announces Executive Changes
May 29 15
athenahealth, Inc. announced the appointment of Kyle Armbrester, currently athenahealth's vice president of business development and creator of the company's More Disruption Please (MDP) innovation and partnership program, to the position of acting chief product officer (CPO), effective immediately. Jeremy Delinsky will step down as CPO after serving in the position for five months and with the company for more than ten years. Delinsky will join Boston-based online retailer Wayfair as the company's chief technology officer. With a background in web services, web development, IT strategy and IT implementation, Armbrester has played a critical role in creating athenahealth's strategy for the continuum of care roadmap, including the acquisition and integration of RazorInsights As acting CPO, Armbrester will be responsible for leading teams associated with business development, the More Disruption Please program, and all emerging products, which are currently characterized as inpatient/hospital solutions, mobile/Epocrates, and services such as athenaCoordinator Enterprise, which deals with patient access and coordination.
athenahealth, Inc. Enters into Amended and Restated Credit Agreement with Bank of America, N.A
May 11 15
On May 5, 2015, athenahealth, Inc. announced that it has entered into an amended and restated credit agreement with Bank of America, N.A. as Administrative Agent, Swing Line Lender, and Letter of Credit Issuer; the other lenders party thereto from time to time; and Merrill Lynch, Pierce, Fenner & Smith Incorporated, TD Securities (USA) LLC, and U.S. Bank National Association as Joint Lead Arrangers and Joint Book Managers. The Amended Credit Agreement amended and restated the company’s existing Credit Agreement, dated as of May 10, 2013, by and among the company, Bank of America, and the other lenders party thereto. The Amended Credit Agreement provides for a $500 million senior credit facility consisting of a $300 million unsecured term loan facility and $200 million unsecured revolving credit facility. The term loans from the Existing Credit Agreement were increased by $130 million and a portion of those proceeds were used to repay the outstanding revolving loans under the Existing Credit Agreement such that there were no revolving loans outstanding on the closing of the Amended Credit Agreement. The company may increase the revolving credit facility up to an additional $100 million and the term loan facility to the extent such amount will not cause the company to be in breach of the financial covenants described below on a pro forma basis after giving effect to such increase, subject to certain conditions including obtaining lender commitments. The proceeds of the senior credit facility may be used to refinance existing indebtedness, including indebtedness under the Existing Credit Agreement, and for working capital and other general corporate purposes. At the company's option, any loan under the senior credit facility will bear interest at a rate equal to the British Bankers Association London Interbank Offered Rate (LIBOR") plus an interest margin based on the company's consolidated leverage ratio, or the base rate plus an interest margin based on the company’s consolidated leverage ratio. The company will pay a commitment fee during the term of the Amended Credit Agreement, which varies between 0.20% and 0.40% based on the company’s consolidated leverage ratio. The senior credit facility matures on May 5, 2020, although the company may prepay the senior credit facility in whole or in part at any time without premium or penalty, and the unutilized portion of the commitments may be irrevocably reduced or terminated by the company in whole or in part without penalty or premium. The obligations of the company under the Amended Credit Agreement and all related documents are jointly and severally guaranteed by athenahealth MA, Inc.; Epocrates, Inc.; Athena Arsenal, LLC; Razor Insights, LLC; and the company's other domestic subsidiaries, excluding any subsidiary that does not meet certain financial materiality thresholds. The Amended Credit Agreement contains customary representations, warranties, and affirmative and negative covenants, including certain covenants and limitations regarding liens, investments, indebtedness, fundamental changes, dispositions, restricted payments, changes in the nature of business, transactions with affiliates, and burdensome agreements. The company is also required to maintain compliance with a consolidated fixed charge coverage ratio, a consolidated leverage ratio, and a consolidated senior leverage ratio, each measured quarterly.
athenahealth, Inc., Annual General Meeting, Jun 10, 2015
Apr 30 15
athenahealth, Inc., Annual General Meeting, Jun 10, 2015., at 17:00 US Eastern Standard Time. Location: 400 North Beacon Street,. Agenda: To elect two directors, Jacqueline B. Kosecoff and David E. Robinson, to serve as Class II directors for a term of three years and until their successors are duly elected and qualified, subject to their earlier resignation or removal; to consider ratify the appointment of Deloitte & Touche LLP as independent registered public accounting firm for the fiscal year ending December 31, 2015; to consider hold an advisory vote to approve the compensation of named executive officers; and to consider transact other business as may properly come before the meeting.