Veradigm announces leadership updates

Tom Langan appointed interim CEO

Interim CFO Lee Westerfield extends his cooperation with the company

Chicago- (Business Wire) –#healthIT—Veradigm Inc. (OTCMKTS: MDRX, the “Company”), a leading provider of healthcare data and technology solutions, today announced that Tom Langan, the company’s president and chief commercial officer (CCO), will assume the role of interim chief executive officer (CEO) on June 7, 2024 reporting directly to the Executive Chairman and the Board of Directors. Mr. Langan has led the company since 2018 and has over 25 years of experience in life sciences, payer, and data and analytics. Interim Chief Financial Officer (CFO) Lee Westerfield, who joined Veradigm in December 2023 after more than 25 years of experience as a senior CFO, has agreed to extend his tenure with the Company through December 31, 2024. The current interim CEO, Dr. Yin Ho, will step down from his position after the expiration of his term of office on June 7, 2024. The Company does not plan to appoint permanent members of the management staff until the separately announced study of strategic alternatives.

Executive Chairman of the Board Greg Garrison said: “As President and Chief Financial Officer, Tom understands the Veradigm team, industry and business goals and will now take on his long-standing leadership at Veradigm as interim CEO in the company’s next chapter. We are also grateful for Lee’s continued efforts as interim CFO as we seek to complete our financial transformation and execute on our long-term business strategy. As an experienced CFO in rapidly changing industries, Lee has been a key leader in helping Veradigm create and strengthen a strong financial control environment.”

Garrison continued: “On behalf of the entire Board, I want to thank Yin for her commitment to Veradigm throughout the transition and for her work to define a future in which the Company can combine our rich history with new, cutting-edge, healthcare-specific artificial intelligence technologies. We are grateful that Yin became interim CEO at a difficult time for the company, allowing Tom to focus on the day-to-day operations. In this role, she developed Veradigm’s analytics and technology capabilities to further unlock value for our customers, partners and shareholders and help position the company as a leader in healthcare data analytics. We wish Yin all the best in her next endeavors.”

“I want to sincerely thank the people at Veradigm, including the team who joined us from ScienceIO,” said Dr. Yin Ho, interim CEO. “During my tenure, we made a bold investment in healthcare-specific AI by acquiring ScienceIO, becoming the first healthcare organization to bring AI in-house. We are uniquely positioned in the industry to responsibly develop these new capabilities and support the provider, payer and life sciences ecosystem. Our experience with electronic health records and deep clinical knowledge workflow led us to leverage in-house generative AI models to improve both the clinical experience and the quality of data capture.”

Dr. Ho continued: “As I retire from Veradigm, I am proud of the direction we are taking. I am confident that Veradigm is well-positioned to take a leadership role in the responsible development of healthcare intelligence products using generative AI models. Additionally, I’m excited about the strength of the Veradigm network. I have the utmost confidence in Tom’s leadership to lead the company into its next chapter.”

About Veradigm®

Veradigm is a health technology company that generates value through a unique combination of platforms, data, expertise, connectivity and scale. The Veradigm network includes a dynamic community of solutions and partners providing advanced insights, technology and data-driven solutions to healthcare providers, payers and biopharmaceutical markets. For more information on how Veradigm is achieving its mission to transform health, Carefully, visit www.veradigm.com or find Veradigm on LinkedIn, Facebook, Twitterand YouTube.

Disclaimer and Forward-Looking Statement Information

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the Company’s review of strategic alternatives, the impact of the Company’s artificial intelligence strategy and expected job appointments management while the Company explores strategic alternatives. These forward-looking statements are based on the Company’s management’s current beliefs and expectations with respect to future events, speak only as of the date they are made and are subject to significant risks and uncertainties. Such statements can be identified by the use of words such as “future”, “anticipates”, “believes”, “estimates”, “expects”, “intends”, “plans”, “anticipates”, “will”, “would”. ”, “may”, “continue”, “could”, “may”, “look ahead”, “target”, “hopes”, “seek” and similar terms, although not all forward-looking statements contain such words or expressions . Actual results may differ materially from those contained in the forward-looking statements.

Important factors that could cause actual results to differ materially from those contained in forward-looking statements include, but are not limited to: whether the objectives of the review of strategic alternatives will be achieved; the terms, structure, benefits and costs of any strategic transactions that may result from the review of strategic alternatives; the timing of any such strategic transaction and whether any such strategic transaction will be completed at all; the risk that the review of strategic alternatives and its announcement may adversely affect (a) the Company’s ability to retain and employ key personnel and maintain relationships with customers, suppliers, employees and shareholders and (b) the Company’s results of operations and business generally; the risk that the review of strategic alternatives may divert the attention and time of the Company’s management; the risk of unexpected costs or expenses arising from the review; the risk of litigation relating to the review of strategic alternatives or any strategic transaction that may result therefrom; increased risk of shareholder activity in connection with the review of strategic alternatives or any transaction that may result therefrom; further significant delays in the Company’s financial reporting or the ability to hold its annual meeting of stockholders; inability to prepare the transformed financial statements in a timely manner; unforeseen factors or factors that the Company does not currently believe will result in a delay; The impact of the previously disclosed, ongoing independent investigation conducted by the Management Board audit committee, which concerns the company’s financial reporting, internal control in the field of financial reporting and disclosure control (“investigation of the audit committee”), including for the efforts and preparation of the company to repair financial statements or other factors which can cause additional delays or corrections; the possibility that the current review can identify additional errors and significant weaknesses or other deficiencies in the company’s accounting; The probability that identified or can be identified in the future of the weaknesses of control will cause additional significant weaknesses of the company’s internal control over financial reporting; Risk related to the voluntary disclosure of the American Commission of Securities and Exchange (“SEC”) of information regarding the investigation of the audit committee; risk related to the alleged collective claim regarding securities filled against the company and all other future court proceedings or investigations related to the investigation of the audit committee; Risk related to the lack of trading in the ordinary shares of the Company on the National Stock Exchange and deregistration from Section 12 (b) of the Act on the Warsaw Stock Exchange from 1934; unexpected costs, fees or expenses resulting from the acquisition of ScienceIO; changes in the financial condition of the markets served by the Company and ScienceIO; risks related to ScienceIO’s product and service offerings or the results of their operations; challenges, risks and costs related to the integration of science IO activities with the company’s activities, including distraction of management from the company’s current business activity; the Company’s ability to realize the anticipated benefits of the acquisition of ScienceIO; risks related to the impact of the Change Healthcare cybersecurity incident on the Company’s customers and other third-party business relationships; and other factors contained in the “Risk factors” section and in other places submitted from time to time by the Company documents to securities and stock exchanges, including the annual report on the 10-k form, quarterly reports on the 10-Q form and its The current report on the 8-K form submitted on January 10, 2024. in time, except as required by law.

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