Workforce management software vendor API Healthcare has announced it will terminate an agreement reached in January to sell the company to Kronos Inc. Several hours later, Kronos announced it had terminated the agreement and implied that API's technology was inferior. "We are more confident than ever that we now have, and will continue to have, the best and most innovative workforce management solutions in the health care industry," said Kronos CEO Aron Ain in a statement.
The agreement enabled either party to terminate if federal regulatory approval was not granted by mid-May, and the Justice Department recently asked for additional information under the Hart-Scott-Rodino Antitrust Act.
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