Just days after cloud-based EHR company athenahealth revealed that its chief financial officer would step down to pursue other opportunities, it was announced July 19 that Karl Stubelis has joined Arcadia Healthcare Solutions as CFO.
Stubelis will lead all financial operations at Arcadia, spearheading the company's capital strategy in support of its growth plan, the company said. He will report to CEO Sean Carroll.
Carroll noted Stubelis' "impressive track record of driving organizational scalability to produce top and bottom line growth for health IT and SaaS businesses."
Stubelis has more than 20 years of experience in financial and operational executive leadership roles across a range of industries, including healthcare IT, and Carroll cited his track record shepherding companies through periods of rapid growth.
As the CFO of $1 billion athenahealth, Stubelis led all aspects of finance for the publicly-traded, multi-national company. He had previously been vice president, corporate controller, and chief accounting officer at marketing and consulting firm SapientNitro Corporation.
Burlington, Massachusetts-based Arcadia Healthcare Solutions develops tools for analytics, data integration, population health management and more. It closed $30 million in new growth capital in a C-round in Q4 of 2016. The company followed this with its most productive first half of the year for new business.
"In my experience, working with companies like Arcadia that are experiencing significant growth, a dynamic financial strategy coupled with a keen focus on execution is a requirement for total company success," Stubelis said in a statement.