Former General Electric Co. Chairman and CEO Jeffrey Immelt has been appointed chairman of athenahealth Inc.
The company said Immelt's appointment is part of a series of strategic initiatives started in 2017 aimed at creating a more efficient company, boosting profitable growth and bolstering shareholder value. With his arrival, athenahealth's board has been expanded to 11 members.
Immelt will make a financial investment in the company and purchase about $1 million in athenahealth shares on the open market. He stepped down from his role as GE's CEO in 2017 and left his role as the conglomerate's chairman ahead of schedule in October of that year.
