Entering text into the input field will update the search result below

athenahealth initiates strategic review to reboot business; shares up 1% premarket

Aug. 01, 2017 8:51 AM ETathenahealth, Inc. (ATHN-OLD) StockBy: Douglas W. House, SA News Editor2 Comments
  • athenahealth (NASDAQ:ATHN-OLD) perks up 1% premarket, albeit on only 5K shares, in response to its announcement that management has started a comprehensive review of its business aimed at cutting costs and driving growth. The company will formalize a plan with input from shareholders and the assistance from a leading consulting firm.
  • The review will encompass all of the company's operations, including sales & marketing, R&D, administration and service as well as its product portfolio and organizational structure.
  • It believes it can achieve $100M in annual cost savings. Additional details will be provided during its Q3 earnings call in October.
  • The board has authorized the creation of the role of President, who will be responsible for the execution of the company's business operations. It is currently searching for a CFO as well who has a track record of operating discipline and value-creating capital allocation.
  • The roles of Chairman and CEO will be separated. A search for an independent chairman is underway as is a search for an additional independent director.

Recommended For You

Related Stocks

SymbolLast Price% Chg
ATHN-OLD--
athenahealth, Inc.