Jeff Immelt, the former CEO of General Electric, has been named the board chairman of health care IT company Athenahealth. He'll be paid about $400,000 a year to hold the position.

The bottom line: Immelt, who was considered a CEO candidate at Uber, takes the chair role from Jonathan Bush, the outspoken CEO and co-founder of Athenahealth and cousin of George W. and Jeb Bush. Athenahealth, which sold $1.2 billion worth of electronic health records and billing software to doctors and small hospitals last year, has been under pressure from Paul Singer's hedge fund to improve profits and cut costs.