Veradigm announces leadership changes as part of strategic review

What you should know:

– Veradigm Inc. (OTCMKTS: MDRX), a leading healthcare data and technology company, today announced that it will be undergoing 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 position of interim Chief Executive Officer (CEO). Mr. Langan is a seasoned leader with over 25 years of experience in the life sciences, payments, and data and analytics industries. He has been associated 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 CFO to the position. His extended term will last until December 31, 2024.

Leadership change during strategic exploration

Current interim CEO, Dr. Yin Ho, will step down upon the expiration of her term on June 7, 2024. Veradigm stressed that it has no plans to appoint any permanent leadership positions at this time. This decision is made in connection with the continuation of the company’s previously announced search for strategic alternatives.

“As president and CEO, Tom understands the Veradigm team, industry and business goals, and he 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 enhance a strong financial control environment,” he 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 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.”