Athenahealth is coming off a tumultuous quarter, aside from its financials, in which it began considering a sale to Elliott Management, and its CEO, Jonathan Bush, apologized for assaulting his wife before resigning.
Athenahealth CEO Jonathan Bush has stepped down from the helm of the EHR vendor effective immediately. The move came after several allegations of inappropriate behavior came to light in recent weeks.
The head of electronic health record company Athenahealth, which is mulling a sale to Elliott Management, attacked his wife 14 years ago during a custody battle, according to court documents cited by the Daily Mail.
The two EHR giants each served about a quarter of the U.S. acute-care hospital market in 2017. Epic had the biggest net growth in U.S. acute-care hospital clients over the year.
EHR vendor Athenahealth's board of directors is under pressure from Elliott Management to accept the hedge fund's nearly $7 billion cash offer.
Electronic health record vendor Athenahealth booked less business in the first quarter compared to a year ago even though it closed a higher rate of deals, a decrease it attributes in part to weak demand.
The cloud-based EHR vendor saw demand for its products and services lag in 2017, a year when it announced layoffs of nearly 10% of its workforce.
Athenahealth had a tough third quarter as providers stepped back from the electronic health record vendor's products, sparking an "organizational redesign" with nearly 400 employees laid off.
Athenahealth is shrinking its workforce by 9%, or more than 400 employees, as part of an "organizational redesign" to simplify the cloud-based EHR vendor's structure.
Following a disappointing first quarter, Athenahealth reported that its operating income back in the black in the second quarter, with a 15% uptick in revenue.
Karl Stubelis is leaving Athenahealth Friday after a little over a year as the EHR vendor's CFO. He will be Arcadia Health Solutions' new CFO and lead capital strategy for the company.
A whistle-blower lawsuit against Mercy and an investor takes a bigger stake in Athenahealth