Last week, Watertown, Massachusetts-based athenahealth announced its CFO, Karl Stubelis, would be stepping down from his role to pursue other opportunities.
But what exactly is that new opportunity? We now have the answer: Stubelis is headed to Arcadia Healthcare Solutions, where he’ll serve as CFO.
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Burlington, Massachusetts-based Arcadia calls itself an EHR data aggregation and analytics technology company. Arcadia assists 3,000 provider practices across the nation, enabling them to aggregate clinical data from various EHR vendors.
In his new position, Stubelis will oversee the company’s financial operations and capital strategy. In a recent phone interview, he said he’s excited to work for an organization focused on population health and value-based care.
“I really believe that the managing of population health — largely through analytics — is the future of tomorrow for healthcare,” he noted.
In a statement, Arcadia CEO Sean Carroll commented on Stubelis’ appointment:
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Karl’s a proven financial strategist and crisp decision-maker who rolls up his sleeves to get the job done. He has an impressive track record of driving organizational scalability to produce top and bottom line growth for health IT and SaaS businesses. We could not be more excited to add his blend of skills and experience to our team in this very formative phase for Arcadia.
Stubelis will begin his new position at Arcadia on Monday, July 24.
Stubelis said he was prompted to join Arcadia because he was looking for a dynamic healthcare organization that felt it could benefit from his prior experiences.
“I’ve got a long career of being in small and large companies alike,” he said. “My sweet spot is the intersection between finance and operations.”
Before his time at athenahealth, Stubelis served as vice president, corporate controller and chief accounting officer at SapientNitro Corporation, a consulting firm.
Additionally, Stubelis commented on the recent endeavors of Arcadia. “They completed the most successful six months in their career, culminating with the capping off of their series C,” he said.
Early this year, Arcadia raised $30 million in a growth round. Investors included GE Ventures, Merck Global Health Innovation Fund, Peloton Equity, Zaffre Investments and Morgan Stanley Alternative Investment Partners. In a January interview, Carroll said the company will use the money to add functionality to its analytics platform.
Photo: Jirsak, Getty Images
