HARTFORD, Wisc.— APRIL 27, 2011—API Healthcare, a provider of healthcare-specific workforce management technology, today announced it intends to terminate its previously announced merger agreement with Kronos. The agreement between Kronos and API Healthcare was entered into in January and allows either party to terminate if regulatory approvals have not been received by mid-May. After considering the best interests of its clients and associates following the U.S. Department of Justice’s second request under the Hart–Scott–Rodino (HSR) Antitrust Improvements Act, API Healthcare determined that the best path forward is to pursue its standalone strategy, and has notified Kronos of its intention to exercise its termination right.
