HealtheTech cost-cutting
This article was originally published in The Gray Sheet
Executive Summary
Reduction of 25% in operating expenses will be achieved by third quarter of 2003, as the Golden, Colo.-based device firm targets a headcount reduction for "most areas of the company," a May 6 release notes. Citing disappointing sales of BalanceLog software via its retail channel, HealtheTech announces revised guidance and restructuring plans to focus on medical and commercial weight management, withdrawing from mass retail software distribution altogether. The company also will cut R&D expenditures related to products such asFitGem, and will introduce lower-cost versions of its BodyGem and MedGem devices. HealtheTech went public in July 2002 (1"The Gray Sheet" July 15, 2002, p. 9)...