The co-founder and CEO of Athenahealth is stepping down and the medical billing software company is exploring a potential sale.
The resignation of Jonathan Bush is effective immediately.
Athenahealth Inc. said Wednesday that Jeff Immelt will become executive chairman. Chief Financial Officer Marc Levine will take on more responsibilities while the company searches for its next CEO. Immelt was the long-time chairman and CEO of General Electric Co. before leaving abruptly a year ago.
The decision by the board at athenahealth to consider a new path comes a month after prominent investor Elliott Management Corp. said it had grown frustrated with the performance of the Watertown, Massachusetts company, and made a bid of about $6.5 billion to take it private.