Athenahealth buys former MBNA retreat
Health care services company athenahealth has bought Point Lookout retreat in Northport for nearly $8 million.
Watertown, Mass.-based athenahealth, which has an office in Belfast, announced Friday it closed on the 400-acre Point Lookout, a former MBNA corporate retreat, for $7.7 million, according to a press release from the company. The company will use Point Lookout for its new client and employee training center, as well as a place for management to meet with providers to discuss issues related to health care information technology. "We believe this investment will enable us to support the growth of our client base and our ability to retain clients over the long term," athenahealth CEO and Chairman Jonathan Bush said.
In 2007, Baltimore-based retirement community developer Erickson Foundation bought Point Lookout for $12 million and originally planned to market the property has a spot for corporate trainings and seminars related to the field of aging, but began opening it to the general public in 2009. Last summer, the foundation hired a hospitality firm, Pinnacle Advisory Group, to improve business and transferred management of the property to Boston-based Pyramid Hotel Group.
Athenahealth plans to keep Point Lookout, which has 106 cabins that can accommodate 260 guests and a bowling alley, open to the public for events and accommodations to help cover the cost of owning the facility. The company has more than 300 employees at its center in Belfast, which it opened in another former MBNA property in 2008.
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