On Wednesday morning, Athenahealth announced that company’s Co-founder and CEO, Jonathan Bush is going to leave the company and now the board is going to consider “strategic alternatives.” Jonathan Bush resigned as a result of the sexual harassment and domestic abuse charges surface amid almost $7 billion bid by Elliot.
As a result, the board is thinking about many options like, the hiring of a new CEO for the company as well as selling, merging or maybe continuing the company as it is. The board said in a statement “sale, merger or other transaction involving the company as well as continuing as an independent company.”
The negative reports about sexual harassment, a leaked video with vulgar comments in 2017 and a 2006 domestic abuse case during a divorce led to Bush’s departure from the company.
The exit comes just after investment experts said that Athena might ignore Elliot’s takeover bid.
Jonathan Bush co-founded this cloud-based top electronic health record and PM system in 1997.
In a statement, Bush said, “I believe that working for something larger than yourself is the greatest thing a human can do. A family, a cause, a company, a country – these things give shape and purpose to an otherwise mechanical and brief human existence. Athenahealth is a near once-in-a lifetime example of such a thing, with that lens on, it’s easy for me to see that the very things that made me useful to the company and cause in these past 21 years, are now exactly the things that are in the way. I cannot imagine a single organization more loaded with potential to transform healthcare.”
The company has started a search of qualified CEO candidates. The board led by former GE CEO Jeffery Immelt said that the company is now working on stabilizing athenahealth’s position in the market.
Marc Levine CFO will take over the operational work, and Amy Abernethy, MD, as the director will advise the leadership team on data strategy, according to the company.
The company said, “There can be no assurance that the review being undertaken will result in a merger, sale or other business combination involving the company. Athenahealth does not intend to make further announcements regarding the review unless and until the Board has approved a specific transaction or other course of action requiring disclosure.”
