Athenahealth Inc. ATHN, +4.17% said Wednesday it has begun exploring “strategic alternatives,” in which the hospital and ambulatory services company will consider a sale, merger or other transaction. The stock is currently halted for news. The company said Chief Executive Jonathan Bush has stepped down from his role, which he has held since co-founded the company in 1997, effective immediately. The New York Post reported last week that sexual harassment claims against Bush were settled in 2009. The company said Jeff Immelt, who was CEO of General Electric Co. GE, -1.16% from 2001 to 2017, was appointed executive chairman. The company said it has initiated a search for a new CEO. Also in May, Elliott Management said it planned to buy the company in a deal valued at about $7 billion. The stock is set to resume trade at 9:50 a.m. ET. It has run up 13.6% year to date through Tuesday, while the SPDR Health Care Select Sector ETF XLV, +1.13% has edged up 1.0% and the S&P 500 SPX, +0.86% has gained 2.8%.
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