67 WALL STREET, New York - May 16, 2013 - The Wall Street Transcript has just published its Investing in Health Care Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Health Care - Electronic Health Record Adoption - Biotechnology and Pharmaceutical Investing - Biotechnology and Pharmaceuticals - Biotechnology and Pharmaceutical Companies Valuation - Platform Interoperability and Data Analytics - HITECH Act Incentives - Affordable Care Act
Companies include: Athenahealth, Inc. (ATHN) and many more.
In the following excerpt from the Investing in Health Care Report, the Senior Vice President and CFO of athenahealth, Inc. (ATHN) discusses company strategy and the outlook for this vital industry.
TWST: Give you us a very broad history and overview of the company and where you are today.
Mr. Adams: The company is about 16 years old. Jonathan Bush is our current CEO, and he is one of the founders of the company, the original CEO, and I would describe him as a health care visionary. athenahealth is what we call a cloud-based model. We're an SaaS company. We compete with a lot of software players that are in this health care IT arena, but our business model is very different than software.
We market our services to any physician in the U.S. market. There are roughly 650,000 docs in the market, and they can be a sole practitioner - one, two, three docs in a practice, or they could be part of a hospital system; there can be thousands of doctors in a single hospital system.
And what's unique about the business model is that it is a cosourced model. We do a lot of work on behalf of the doctor's office, and the doc's office does a little bit of the work. When you buy software, the doc's office does all the work. The software can make it a little bit easier for you, but there is no one doing work on your behalf the way athenaNet does.
We have about 2,600 employees today; most are in the U.S., a couple hundred are over in India. We operate in about six or seven different locations. Watertown, Massachusetts, suburb of Boston, is the headquarters. We have a big operating facility up in Belfast, Maine, and we are expanding our Atlanta office and our Austin, Texas, office. We recently acquired a company by the name of Epocrates, and they have offices in Ewing, New Jersey, and San Mateo, California.
athena is a very high-growth company. This company has grown topline revenue by at least 30% from day one, going back to the year 2000 that the first service was launched, athenaCollector. Topline revenue has grown 30% a year or more...
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
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