API Healthcare, a provider of healthcare labor-management technology, will terminate its agreement to be acquired by Kronos, according to a news release issued Wednesday afternoon by API.
API to terminate sale to Kronos
Hartford, Wis.-based API and Chelmsford, Mass.-based Kronos offer labor-analytics, scheduling and attendance-tracking software and services. Kronos announced plans in February to acquire API Healthcare; terms of the deal were not disclosed. API's decision to terminate the agreement came after a second U.S. Justice Department request under the Hart-Scott-Rodino Act, according to its release today.
"During the HSR review process we heard the strong reaction of our healthcare provider clients from across the country as they spoke out with passionate support of our solutions, services and strategy," API Healthcare President and CEO J.P. Fingado said in the release. The company plans to pursue a stand-alone strategy, according to the release.
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