Veradigm ( OTC:MDRX ) said that on June 7, 2024, Tom Langan, the company’s President and Chief Commercial Officer will assume the role of interim CEO, reporting directly to the executive chairman and the Board. The current interim CEO, Dr. Yin Ho, will step down following the expiration of her term of service on June 7, 2024.
Interim CFO Lee Westerfield, who joined Veradigm ( OTC:MDRX ) in December 2023 has agreed to extend his term of service with the company through December 31, 2024. Veradigm ( OTC:MDRX ) reaffirmed its fiscal 2024 guidance previously provided on March 13, 2024, expects revenue between $620M and $635M ( vs. consensus of $ 649.
04M ) and adjusted EBITDA is expected between $104M and $113M. As of March 31, 2024, the company had cash and cash equivalents of ~$343M, funded debt of $208M and net cash of $135M. The company is exploring strategic alternatives for potential sale, merger, strategic business combination or other transaction.
The company has not set a timetable for completion of the evaluation process and does not intend to disclose further developments unless and until it is determined. More on Veradigm Veradigm reports initial financial outlook for fiscal 2024 Seeking Alpha’s Quant Rating on Veradigm Historical earnings data for Veradigm Financial information for Veradigm.
