athenahealth to Buy Watertown 'Arsenal on the Charles'

athenahealth, Inc.

, a leading provider of cloud-based electronic health record (EHR), practice management, and care coordination services to medical groups and health systems, today announced that it has signed a purchase and sale agreement with Harvard University to acquire the Watertown “Arsenal on the Charles,” an expansive, 29 acre, multi-building, commercial property situated on the Charles River less than 10 miles outside of downtown Boston. The purchase is expected to close in Q2 of 2013, subject to the satisfactory completion of due diligence by athenahealth. The “Arsenal on the Charles,” a designated historic site with buildings that date back more than 200 years, has been home to athenahealth's headquarters since 2005. athenahealth is one of many companies currently located in the 11 buildings, which account for approximately 760,000 square feet across the real estate complex. Through this purchase athenahealth seeks to gain the additional flexibility and space needed to help accelerate the company's growth in Massachusetts and across the health care industry. “The Arsenal on the Charles' open and expansive architecture, outdoor campus feel, and proximity to Boston really fit with our culture and made it the logical place for us to expand. We are excited to deepen our roots in Massachusetts, and continue our growth as an engaged, corporate citizen of Watertown,” said Jonathan Bush, chairman and CEO of athenahealth. “I'm particularly excited by the rich history of the Arsenal. We at athenahealth have always fancied ourselves agents in a larger mission than merely growing a company. We believe the emergence of the cloud in the delivery of health care will have a revolutionary impact on its cost and quality, just the way the first industrial revolution did on manufactured goods two hundred years ago. The fact that we are able to own and in fact headquarter ourselves in the very same buildings from which that first industrial revolution rose, is truly inspiring to all of us.” Steve Cook of Avison Young represents athenahealth, Inc. in the purchase of the “Arsenal on the Charles;” he can be reached at 617-250-7609.