Veradigm CEO, CFO To Leave As Investigation Is On Regarding Co's Financial Reporting; Stock Down

(RTTNews) - Veradigm Inc. (MDRX), a healthcare technology company, on Friday said the Board has asked its Chief Executive Officer Richard Poulton, and Chief Financial Officer Leah Jones to resign following Audit Committee's independent investigation about its financial reporting and possible impacts on its previous reports.

Previously, the healthcare company had received a notice from Nasdaq indicating that it was non-compliant with Nasdaq Listing Rule as it failed to file annual report for the year ended December 31, 2022, quarterly report for the period ended March 31, 2023 among others.

The current chairman Greg Garrison has been appointed as the executive chairman and present director Shih-Yin Ho, has been named the interim chief executive officer of the company.

Additionally, Lee Westerfield who has more than 25 years of experience and is the current finance chief at Clearsense will serve as the interim chief financial officer.

The company has initiated a search for a permanent CEO and CFO.

Meanwhile the new leadership team is reviewing the financial guidance for fiscal 2023 issued on September 18.

Currently, Veradigm shares are trading at $10.81 down 14.10% on the Nasdaq.