Veradigm announces leadership changes as part of strategic review

What you should know:

– Veradigm Inc. (OTCMKTS: MDRX), a leading healthcare data and technology company, announced today that it will experience leadership changes as it explores strategic alternatives.

– Effective June 7, 2024, Tom Langan, currently President and Chief Commercial Officer (CCO) of Veradigm, will assume the role of Interim Chief Executive Officer (CEO). Mr. Langan is a seasoned leader with over 25 years of experience in the life sciences, payer, and data and analytics industries. He has worked at Veradigm since 2018.

– Veradigm also announced that Lee Westerfield, who joined the company in December 2023 as interim CFO, has agreed to extend his tenure. Mr. Westerfield brings more than 25 years of experience as a senior financial executive to this role. His extended term will last until December 31, 2024.

Leadership transition during strategic exploration

The current interim CEO, Dr. Yin Ho, will step down after her term expires on June 7, 2024. Veradigm emphasized that it is not considering making any permanent appointments to leadership positions at this time. The move comes as the company continues its previously announced exploration of strategic alternatives.

“As President and Chief Compliance Officer, Tom understands the Veradigm team, industry and company goals and will now leverage his long-standing leadership at Veradigm as interim CEO throughout the year. along the company’s next chapter. We are also grateful for Lee’s continued efforts as interim CFO as we seek to finalize our financial restatements and implement our long-term business strategy. As a seasoned CFO in rapidly evolving industries, Lee has played a critical role in helping Veradigm foster and strengthen a strong financial control environment,” said Executive Chairman of the Board Greg Garrison.

Garrison continued: “On behalf of the entire Board of Directors, I would like to thank Yin for his commitment to Veradigm throughout this transition period and for his work to define a future in which the company can combine our rich history with new, cutting-edge healthcare-specific products. AI technology. We are grateful that Yin agreed to become interim CEO at a difficult time for the company, allowing Tom to focus on day-to-day business. In this role, she advanced Veradigm’s analytical and technology capabilities to unlock more value for our customers, partners and shareholders and help position the company as a leader in healthcare data intelligence. We wish Yin the best in his next projects.