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PSS Invests in athenahealth

July 6, 2007
by root
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PSS World Medical Inc. (Jacksonville, Fla.) has made a $22.5 million equity investment, approximately 5 percent of current outstanding shares, in athenahealth Inc. (Watertown, Mass), a provider of Internet-based healthcare information technology and business services to physician practices. According to PSS, it purchased shares of the athenahealth from existing shareholders.

Additionally, PSS contends the company's Physician Business, Physician Sales & Service, has entered into a two-year exclusive distribution agreement with athenahealth to market its Web-based practice management, billing and electronic medical record (EMR) solutions to the U.S. physician market.

athenahealth will also provide product and customer support services to PSS's physician customers, says the company.

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