What You Should Know:
– Veradigm Inc. (OTCMKTS: MDRX), a leading healthcare data and technology company, announced today that it will be undergoing leadership changes as it explores strategic alternatives.
– Effective June 7th, 2024, Tom Langan, currently serving as Veradigm’s President and Chief Commercial Officer (CCO), will assume the role of interim Chief Executive Officer (CEO). Mr. Langan is a seasoned leader with over 25 years of experience in life sciences, payer industries, and data & analytics. He has been with Veradigm since 2018.
– Veradigm also announced that Lee Westerfield, who joined the company in December 2023 as interim CFO, has agreed to extend his term. Mr. Westerfield brings over 25 years of experience as a senior financial executive to the role. His extended term will last through December 31st, 2024.
Leadership Transition During Strategic Exploration
The current interim CEO, Dr. Yin Ho, will step down following the expiration of her term on June 7, 2024. Veradigm emphasized that they do not plan to make any permanent executive appointments at this time. This decision comes as the company continues its previously announced exploration of strategic alternatives.
“As President and CCO, Tom understands the Veradigm team, industry and business objectives and will now bring his long-time leadership at Veradigm to bear as interim CEO through the Company’s next chapter. We’re also grateful for Lee’s continued efforts as interim CFO while we look to complete our financial restatements and execute against our long-term business strategy. As a seasoned CFO in sectors undergoing dynamic change, Lee has been a critical leader in helping Veradigm foster and reinforce a strong financial control environment,” said Executive Chairman of the Board Greg Garrison.
Garrison continued, “On behalf of the entire Board, I want to thank Yin for her commitment to Veradigm throughout this transition period and for her work to define a future where the Company can combine our rich history with new cutting-edge, healthcare-specific AI technology. We are grateful that Yin stepped up to become the interim CEO at a challenging time for the Company, allowing Tom to focus on the day-to-day business. In that role, she advanced Veradigm’s analytical and technology capabilities to further unlock value for our customers, partners and stockholders and help position the Company as a leader in healthcare data intelligence. We wish Yin the best in her next endeavors.”