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Healthcare expertise firm athenahealth is shedding 178 workers, lower than 3% of its workforce, and 100 workers might be “redeployed to greater precedence areas” of the enterprise.
In keeping with an electronic mail obtained by the Boston Globe, athenahealth CEO Bob Segert pointed to trade traits, hiring that outpaced the corporate’s income progress and financial circumstances — comparable to greater rates of interest, inflation and “altering tax laws” — to elucidate the layoffs and reorganization.
Segert additionally stated the corporate would get rid of its house web and cell machine reimbursement packages and its transportation subsidy in addition to pare down its workplace footprint.
“At athenahealth, we’re repeatedly reviewing and evolving our construction and priorities consistent with our progress technique, macroeconomic circumstances and the evolving wants of our clients and enterprise. We’re making some inner modifications to higher place our group for its subsequent section of progress, and in consequence, we’re decreasing our world workforce by lower than 3%. Whereas this represents a small share of our complete workers, it’s tough to say goodbye to any of our individuals and we’re actively working to help all impacted workers,” an organization spokesperson instructed MobiHealthNews in an electronic mail.
THE LARGER TREND
athenahealth, which gives an digital well being document and doctor observe instruments, was as soon as a publicly-traded firm that went non-public in 2019 after finishing a $5.7 billion private equity deal with Veritas Capital. The consolidation led to a round of layoffs in 2019 affecting 4% of its workforce to streamline its operations.
In 2021, athenahealth announced it would be jointly acquired by associates of Bain Capital and Hellman & Friedman for $17 billion. The deal closed a couple of yr in the past.
In a November interview with The Boston Globe highlighted by Healthcare IT News, Segert stated the corporate may as soon as once more go public.
“When you concentrate on athena, it was an awesome public firm and it misplaced its method somewhat bit,” Segert instructed the Globe. “We’ve remodeled that, created a ton of worth. It’s able to go public once more if we so select that path.”
The healthcare tech firm is the newest in a string of layoffs seen all through the digital well being and well being tech sectors up to now yr. Philips introduced it might lower 6,000 jobs worldwide by 2025, whereas telehealth staffing and providers firm Wheel and digital psychological well being firm Mindstrong additionally introduced layoffs this week.
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