Sounds reasonable, until you look at the Silicon Valley experience. Silicon Valley grew like a weed precisely because employees could…
Kronos To Acquire API Healthcare
Workforce management systems vendor Kronos announced this morning that it has entered into an agreement to acquire competitor API Healthcare from Francisco Partners.
Kronos CEO Aron ain was quoted as saying, “This acquisition is great news for Kronos and API Healthcare customers, as well as the entire healthcare industry. Together we will leverage our complementary strengths to help organizations deliver high-quality patient care while maintaining tight control over their labor costs.”
API Healthcare President and CEO J.P. Fingado said, “This is a great opportunity to join the Kronos team and work together to drive additional value for our customers’ rapidly evolving needs. Kronos is dedicated to our commitment to innovation and customer support, and we look forward to this exciting new chapter for API Healthcare.”
Terms were not disclosed. The announcement states that “key API healthcare employees and resources” will be retained.
As an API customer, I’d like to know what will happen to the overlapping products. Anyone have any insight on that? Ideally (to me) Kronos will leave API alone and let them continue to be the healthcare solution and Kronos for other vertical markets. I doubt that will happen…
Folks all over Hartford, WI are asking themselves if they are a “key” employee.
Well, if Kronos is anything like the HR and Management that were running API when I was there then the “key” employees would be HR, Sales, and Management, in that order. Notice I didn’t include the people who actually develop or test the software.
Kronos tried to buy API when it was still being run by the founder – he flatly refused to sell as he knew the only reason Kronos wanted to buy him out was to eliminate the competition.
I’m seeing an end to most, if not all, of API products as well as the jobs provided by the company.
In response to Dodele. As an API client you should get ready to migrate to Kronos’ platform. Historically Kronos aquires competitors for the database and for any intellectual property. In API’s case, the Kronos product is a much better solution with exception to one item – the patient classification module which they will incorporate into WFC – goodbye API solutions.
As for key personnel, when they bought simplex they kept some sales and service people eventually moving them out; as for Stromberg – they only kept 2-3 people and that only lasted 2-3 months – API’ers better get the resume brushed up.