Athenahealth names Marc Levine chief financial officer to replace ousted CFO
Cloud-based EHR company athenahealth, which provides network-enabled services for hospital and ambulatory clients across the country, today announced Marc Levine will take the post of executive vice president on Dec. 15 and also the role of chief financial officer and treasurer effective Jan. 2, 2018.
John A. “Jack” Kane will step down as interim chief financial officer on Jan. 2. He will continue to serve as a member of the athenahealth board of directors.
Former athenahealth Chief Financial Officer Karl Stubelis was ousted in July this year as the company sought new leadership amid financial troubles. Stubelis stayed on board through the reporting of athenahealth’s 2017 second quarter results. Kane served as interim chief financial officer until now.
“Marc is a proven executive and financial leader with a track record of driving operational performance across complex, growing organizations,” athenahealth CEO Jonathan Bush said in a statement. “We’re confident his disciplined approach and passion to drive positive transformation will equip athenahealth for ongoing profitable growth as we forge into our next chapter of innovating for healthcare.”
Athenahealth is in the midst of downsizing and restructuring after having warded off a takeover bid from activist investors Elliott Associates back in May.
In August, Bush announced athenahealth would cut $100 million in costs. By October Bush announced the company would cut 9 percent of its workforce, close some offices, curb spending and sell the company jet.
Levine is emphasizing the positive.
“Athenahealth is in the midst of an exciting evolution, growing within current and new markets, and transforming the way it operates,” Levine said in a statement. “I’m excited to drive forward a new level of financial leadership and rigor that will better position the company to execute on its inherent service and model differentiation, expand upon the value it brings to current and future clients, and enhance shareholder value.”
Levine most recently served as the executive vice president and CFO of JDA Software Group, Inc., a privately-held supply chain provider of software and SaaS solutions, where he led the company’s finance and accounting, legal, workplace, purchasing and information technology activities.
Before JDA, he held several senior financial leadership roles over his 25-year career at Hewlett Packard Company, including senior vice president and corporate controller, senior vice president of finance and chief operating officer for HP’s Enterprise Services Business segment, and general manager of Southeast Asia for HP’s medical products business.