NantHealth Slashes Staff, Sells Some Assets To Allscripts

Los Angeles-based NantHealth, one of the biotech companies run by billionaire Patrick Soon-Shiong, has slashes its staff and sold off some of its assets, as part of a major restructuring. According to NantHealth, it has reduced its headcount by approximately 300, and sold off its provider/patient engagement assets to Allscripts. According to NantHealth, the move will result in a "significant reduction" in its operating losses, and will allow its remaining engineering teams to focus on cancer. NantHealth said it expects the sale and cuts to save it approximately $70M annually.