Wednesday, June 6, 2018

Athenahealth CEO Jonathan Bush leaves, board says it will consider sale or merger

Bush's exit comes as part of past charges of sexual harassment and abuse surface in the midst of activist investor's $7 billion takeover offer.

Athenahealth CEO Jonathan Bush

Athenahealth announced Wednesday morning that founder and CEO Jonathan Bush is leaving the organization and that the team will be considering "vital choices."

Those incorporate contracting another CEO and also a "deal, merger or other exchange including the organization and in addition proceeding as an autonomous organization," athenahealth said in an announcement.

Bush's takeoff takes after negative reports about sexual harassment, a video with vulgar remarks at a 2017 healthcare industry occasion and local abuse in 2006 amid a separation.

It likewise comes days after an investor expert proposed that athenahealth could basically overlook activist investor Elliott Management's takeover offered.

Bush helped to establish the cloud-based EHR, practice management, revenue cycle and population health vendor in 1997.

"I trust that working for an option that is bigger than yourself is the best thing a human can do. A family, a reason, an organization, a nation – these things give shape and reason to a generally mechanical and brief human presence. Athenahealth is a close unique case of a wonder such as this," 

Bush said in an announcement. "With that focal point on, it's simple for me to see that the very things that made me helpful to the organization and cause in these previous 21 years, are currently precisely the things that are standing out. I can't envision a solitary association more stacked with potential to change healthcare."

The athenahealth Board of Directors, headed by previous GE CEO Jeffrey Immelt, has started a pursuit procedure to recognize qualified CEO hopefuls, and the athenahealth Board has started an inquiry procedure to distinguish qualified CEO applicants.

The board is attempting to better position athenahealth to benefit from its healthcare innovation stage, Immelt said. Meanwhile, Immelt has been delegated Executive Chairman.

CFO Marc Levine will accept more noteworthy everyday operational obligations and oversight, and current board part Amy Abernethy, MD, will exhort the official authority group on data system inside her part as a director, the organization said.

"There can be no affirmation that the audit being embraced will bring about a merger, deal or different business mix including the organization," athenahealth said. "athenahealth does not mean to make promote declarations with respect to the audit unless and until the point that the Board has endorsed a particular exchange or other game-plan requiring divulgence."