Athenahealth, Inc. (ATHN), a provider of Internet-based business services for physician practices, Monday announced the appointment of Timothy Adams as Senior Vice President and Chief Financial Officer, effective Monday. The company also said Carl Byers will step down as Chief Financial Officer.
According to the company, Adams, a 27-year veteran in the health care and technology services industries, will oversee finance, legal and investor relations functions of Athenahealth. He will report to Jonathan Bush, Chairman, President and Chief Executive Officer of the company.
Adams currently serves in an executive capacity at Constitution Medical Investors, Inc., a health care-focused private investment firm founded in partnership with Warburg Pincus and dental health solutions provider Keystone Dental.
In 2008, Adams served as Chief Financial Officer of Orthofix International NV (OFIX). Prior to that, he was Chief Financial Officer of women's health company Cytyc Corp. During his three-year tenure, Cytyc's revenue grew to $750 million from $350 million. In 2007, Cytyc was sold to Hologic, Inc. (HOLX) for $6.2 billion.
Adams' earlier experiences include Chief Financial Officer positions at Modus Media International Inc. and Geotrust as well as Digex Inc. He also served in finance and operational roles at internet service provider GTE Internetworking / BBN Planet.
Byers was the Chief Financial Officer of the company since its founding in 1997. The company on June 4, 2009 had announced Byers' plan to resign in early 2010. Byers will continue to serve as an advisor to Athenahealth.
ATHN is trading at $45.92 on the Nasdaq, down $1.27 or 2.69%, on a volume of 65,497 shares.
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