Move comes amid IPO talks for Practice Fusion.
Practice Fusion, which digitizes EHRs for hospitals and healthcare facilities, has confirmed it has slashed one-quarter of its staff in an effort to make the company more profitable,TechCrunch reported. The layoffs affect approximately 74 employees across the board from engineering, product, marketing, and customer success departments. Founded in 2005, the firm provides advertising-supported EMR and medical practice management software.
The move also comes in the midst of IPO talks for Practice Fusion, which announced the addition of over 5,000 new active medical practices and dozens of life science partners in 2015 while also seeing accelerated year-over-year revenue growth of more than 70 percent. The cuts were deemed necessary in order to get the company back into the black and move forward. For the full article click here
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