Veradigm Inc MDRX announced leadership changes amid an investigation into financial reporting. Greg Garrison is now Executive Chairman, Dr. Shih-Yin Ho is interim CEO and Lee Westerfield is interim CFO. Former CEO Richard J. Poulton and CFO Leah S. Jones resigned.
The board aims to strengthen financial controls and is reviewing potential impacts on financial statements. They're searching for permanent CEO and CFO replacements, reviewing fiscal year guidance and working to regain compliance with Nasdaq rules.
There's also an unrelated estimated revenue reduction. The company continues to estimate a reduction in revenue from continuing operations of approximately $20 million in the aggregate between the periods 2020 through the end of 2022 relating to certain revenue recognition practices.
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According to data from Benzinga Pro, MDRX has a 52-week high of $19.77 and a 52-week low of $9.86.
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