Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
OAK INVESTMENT PARTNERS IX L P
   2. Issuer Name and Ticker or Trading Symbol
ATHENAHEALTH INC [ATHN] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
C/O OAK INVESTMENT PARTNERS, ONE GORHAM ISLAND		 3. Date of Earliest Transaction (Month/Day/Year)
09/25/2007
(Street)

WESTPORT, CT 06880		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 09/25/2007   C   4,457,942 A $ 0 4,457,942 D (1)  
Common Stock 09/25/2007   C   47,512 A $ 0 47,512 D (2)  
Common Stock 09/25/2007   C   107,004 A $ 0 107,004 D (3)  
Common Stock 09/25/2007   S   445,795 (4) D $ 18 4,012,147 D (1)  
Common Stock 09/25/2007   S   4,751 (4) D $ 18 42,761 D (2)  
Common Stock 09/25/2007   S   10,700 (4) D $ 18 96,304 D (3)  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Series A-1 preferred stock (5) 09/25/2007   C     82,153 09/25/2007   (6) Common Stock 82,153 (5) 0 D (1)  
Series A-1 preferred stock (5) 09/25/2007   C     875 09/25/2007   (6) Common Stock 875 (5) 0 D (2)  
Series A-1 preferred stock (5) 09/25/2007   C     1,972 09/25/2007   (6) Common Stock 1,972 (5) 0 D (3)  
Series D preferred stock (5) 09/25/2007   C     4,207,013 09/25/2007   (6) Common Stock 4,207,013 (5) 0 D (1)  
Series D preferred stock (5) 09/25/2007   C     44,839 09/25/2007   (6) Common Stock 44,839 (5) 0 D (2)  
Series D preferred stock (5) 09/25/2007   C     100,980 09/25/2007   (6) Common Stock 100,980 (5) 0 D (3)  
Series E preferred stock (5) 09/25/2007   C     168,776 09/25/2007   (6) Common Stock 168,776 (5) 0 D (1)  
Series E preferred stock (5) 09/25/2007   C     1,798 09/25/2007   (6) Common Stock 1,798 (5) 0 D (2)  
Series E preferred stock (5) 09/25/2007   C     4,052 09/25/2007   (6) Common Stock 4,052 (5) 0 D (3)  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
OAK INVESTMENT PARTNERS IX L P
C/O OAK INVESTMENT PARTNERS
ONE GORHAM ISLAND
WESTPORT, CT 06880		     X    
OAK IX AFFILIATES FUND LP
C/O OAK INVESTMENT PARTNERS
ONE GORHAM ISLAND
WESTPORT, CT 06880		     X    
OAK IX AFFILIATES FUND A LP
C/O OAK INVESTMENT PARTNERS
ONE GORHAM ISLAND
WESTPORT, CT 06880		     X    

Signatures

 /s/ Christopher E. Nolin Attorney-in-Fact for all Reporting Persons   09/25/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Represents shares directly owned by Oak Investment Partners IX, L.P. ("Oak IX, L.P.").
(2) Represents shares directly owned by Oak IX Affiliates Fund, L.P. ("Oak IX Affiliates, L.P.").
(3) Represents shares owned directly by Oak IX Affiliates Fund-A, L.P. ("Oak IX Affiliates A, L.P.").
(4) Shares sold pursuant to the initial public offering of common stock of athenahealth, Inc. through both the secondary offering and exercise of the over-allotment option by the underwriters.
(5) These shares automatically converted into common stock on a one-for-one basis upon the closing of the Issuer's initial public offering of common stock.
(6) The preferred stock has no expiration date.
 
Remarks:
Oak IX Affiliates, L.P. and Oak IX Affiliates A, L.P. are filing this report on a precautionary basis because they may be deemed to be included in a "group" with Oak IX, L.P., which is a Reporting Person with respect to the Issuer. Oak Associates IX, L.L.C. is the General Partner of Oak IX, L.P. and Oak IX Affiliates, L.L.C. is the General Partner of Oak IX Affiliates, L.P. and Oak IX Affiliates A, L.P. Each Reporting Person and each of the persons described in this footnote disclaims the existence of a "group" and disclaims beneficial ownership of any securities (except to such Reporting Person's pecuniary interest in such securities) of the Issuer and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of any such securities for purposes of Section 16 or for any other purpose.

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