Eclipsys Falls After Announcing CEO Transition

NEW YORK (AP) — Shares of Eclipsys Corp. fell Thursday after the health care software maker said Chief Executive R. Andrew Eckert is leaving the company.

Eckert said he wanted to be closer to his family on the West Coast.

While analysts approved of the change, and of the hiring of former Per-Se Technologies head Philip Pead as Eckert's replacement, Eclipsys shares declined in afternoon trading. The company is currently searching for a new full-time chief financial officer after David Colletti resigned in January.

Shares of Atlanta-based Eclipsys lost 50 cents, or 3.3 percent, to $14.50, after shedding as much as 8.7 percent earlier in the session.

Michael Cherny of Deutsche Bank said the change brings some uncertainty, but is "a long-term positive for Eclipsys, as Pead brings a wealth of knowledge to the role given his significant experience in the health information technology space." He said Pead's experience at Per-Se will be valuable. Per-Se is a financial and administrative health care services company. It was sold to McKesson Corp. in 2007.

Thomas Weisel Partners analyst Steven Halper said he believes Pead will review the company's product line and try to improve overall competitiveness, and possibly streamline its leadership.