athenahealth, Inc., Explosive Growth Leads to Corporate Relocation in Watertown; Online revenue cycle management company will be a large tenant of The Arsenal on the Charles

Business Wire, Nov 9, 2004

WALTHAM, Mass. -- athenahealth, Inc., the premier provider of online revenue cycle optimization services for medical practices, has secured a landmark, 10-year deal with Harvard University for more than 133,000 square feet at The Arsenal on the Charles in Watertown, MA. This 37-acre campus overlooks the Charles River and offers ample onsite amenities. athenahealth not only secured a suitable location but also was able to achieve mutually attractive terms for a long-term relationship with Harvard University.

athenahealth's need to move from its current headquarters in downtown Waltham, MA, has been driven by its dramatic success and growth. Over the course of the last year, the company has added more than 2,800 new doctors onto its Web-based revenue cycle platform and almost 100 employees.

Jack Kerrigan, executive vice president, Steve Cook, vice president, and John McDonough, vice president, of Grubb & Ellis, represented athenahealth in this important real estate transaction. Steve Faber, vice president of asset management and Bob Doherty, director of leasing, from the Beal Companies, represented Harvard University. When athenahealth began working with the Grubb & Ellis team near the beginning of the year, they were looking for a distinctive space that would reflect the company's unique culture, meet the needs for future growth and provide exceptional amenities to its employees.

"athenahealth is growing rapidly," said Jonathan Bush, president, chief executive officer and co-founder of athenahealth. "We needed a large block of space but wanted a property with character and the access to local amenities we had grown accustomed to. We found all that at The Arsenal on the Charles."

athenahealth's space at The Arsenal includes a flagship stand-alone 22,000 square foot building, in addition to the more than 111,000 square feet in the main building. The Arsenal complex, rich in architectural and historical significance, offers amenities that include a private shuttle bus to Harvard Square, a Bright Horizons day care center, Boston Sports Club (opening soon), restaurants, banking and a corporate facility function, as well as off-site access to Arsenal Park and proximity to the Arsenal Mall Shopping Center and Watertown Mall.

"We have been working closely with the Beal Companies to do our part to make athenahealth and other companies feel welcome at The Arsenal," said Greg Watson, director of community development and planning in Watertown. "athenahealth's move to The Arsenal helps make the site full again and will help make the area a vital center for commerce for the foreseeable future."

In addition to Grubb & Ellis, other move partners include project managers Corporate Project Partners of Boston, architects Margulies and Associates of Boston and Bell Larson Architects and Planners of New York City, a construction management team from Columbia Construction of North Reading, MA, and IT consultants CCR/Pyramid.

About athenahealth

athenahealth offers the only clinician revenue cycle management service to integrate workflow, billing and collections into a single service on a single Web-based technology platform. The results are faster payment at lower cost, higher revenue retention and less hassle. The company is dedicated to helping providers make optimum use out of their time, ultimately improving the quality of service delivered and the financial reward for it. For more information about athenahealth, visit our Web site at www.athenahealth.com or call 1-888-652-8200.

athenahealth, Inc., athenaBasic, athenaCollector and athenaEnterprise are trademarks of athenahealth, Inc. All other trademarks and registered trademarks are the properties of their respective holders.