Upated: RetraceHealth Founders Ousted, Angie Franks Named CEO


e_e1ck5s[Updated 12/12 10:00am CST – RetraceHealth has confirmed that Angie Franks is the permanent CEO replacement to Aderinkomi, not interim.]

Minnesota tech entrepreneurs Thompson Aderinkomi (CEO) and Steven Bayer (CTO) have been fired from the company they founded in 2013.

RetraceHealth combines video telemedicine with face to face house calls for a blended delivery model designed to lower time and cost associated with the traditional physician-patient process. The venture has attracted investment capital from Blue Cross and Blue Shield of Minnesota (Blue Cross), HealthEast Care System (Minnesota), and McKesson Ventures.

aufxcvk6In June, Minneapolis-based Lemhi Ventures lead a $7m investment round into Retrace after local angel investors Abir Sen, Paul Johnson, Randy Debruyn, Jeff Smedsrud and Julie Sands-Caufey backed the venture.  Jodi Hubler, Kyle Rolfing and Linda Hall are among the board members.

The “quick change” occured approximately two weeks ago, he explained, as both remain vested in the company they once ran.

A RetraceHealth spokesperson acknowledged the situation and confirmed that Angie Franks (left), a vetern technology executive and former SportsEngine CMO is leading the ~30 person company from this point forward.

“I trust that the new leadership will do their best for the company and employees,” Aderinkomi concluded.