Digital health technology company Adherium (ASX:ADR) has announced a reorganisation following what it describes as an extensive strategic review.
Adherium said the reorganisation is designed to focus the company on the development of its technology and insights into how data, and its application, will impact on the practice of medicine.
The company's technology is designed to address current sub-optimal medication use in chronic diseases.
It has been shown to improve patient medication adherence to preventative inhaled therapies that are used in the management of chronic respiratory diseases and to significantly improve health outcomes in people with asthma.
Adherium said it is making changes to create a smaller, simpler, more dynamic operational structure, from which it will develop discrete programs with partners during 2019.
"In this context, Adherium is reducing its internal development capability and will also reduce its direct operational presence in the USA," it said.
"This restructuring will deliver an immediate and sustainable reduction in expenses through a significant contraction in workforce across the United States and New Zealand.
"This includes Group CEO Arik Anderson and CFO David Allinson who will be leaving the Company, and the Board wishes to thank them for their contribution.
"Rob Turnbull, the Company’s existing VP of Finance & Business Services, and joint Company Secretary, has been appointed General Manager and will provide leadership to the organization from Auckland, New Zealand."