Patrick Soon-Shiong

NantHealth to cut 300 employees, will sell some assets to Allscripts

NantHealth to cut 300 employees, will sell some assets to Allscripts

Los Angeles billionaire Patrick Soon-Shiong’s NantHealth Inc. said it would cut about 300 employees and sell some assets as the biotech company looks to focus on artificial intelligence for cancer treatment.

The Culver City company said Thursday that it signed an agreement to sell its provider and patient engagement assets to Chicago-based healthcare IT firm Allscripts Healthcare Solutions Inc., allowing NantHealth to “integrate the remaining engineering teams to focus on cancer.”

NantHealth said the assets sale, integration of acquired businesses and other moves are expected to result in annual cost savings of more than $70 million.

On Thursday, the company reported a...

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