athenahealth to sell corporate jet in cost-cutting move

Jessica Kim Cohen - Print  | 

Jonathan Bush, CEO of athenahealth, said during an investor call last month the company will sell one of its two corporate jets, Boston Business Journal reports.

The decision to sell the company's Bombardier Challenger 300, a "super-midsize business jet" used by senior executives, is part of athenahealth's ongoing cost-cutting efforts, according to the Boston Business Journal. The company plans to maintain ownership of its smaller corporate plane, a Pilatus PC-12, for business trips and travel under timeshare agreements with select employees.

"This further reflects our change in mindset as we evolve the way we do business," Mr. Bush said during the investor call.

Other recent cost-saving measures have included reducing the company's workforce and its real estate, according to the Boston Business Journal.

In mid-October, athenahealth confirmed to Becker's Hospital Review it planned to cut its total workforce by approximately 9 percent, with the majority of layoffs expected by the end of 2017. The company expects the job cuts to save between $100 million and $115 million by the end of 2018, the Boston Business Journal reports.

More articles on health IT:
Study: 5 health indicators predict cardiovascular risk
60% of New York patients don't think providers spend too much time on computers, survey finds
Researchers analyze DNA from 'supercentenarians' aged 110+ to discover secret to longevity

© Copyright ASC COMMUNICATIONS 2021. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.