Veradigm (MDRX) Concludes Exploration of Strategic Alternatives and Announces Operational Review

Veradigm® (OTCMKTS: MDRX), a leading provider of healthcare data and technology solutions, announced today that the Veradigm Board of Directors (the “Board”) completed its previously announced review of strategic alternatives to maximize stockholder value.

Review of Strategic Alternatives

Throughout the review process, the Board, in collaboration with its financial and legal advisors, evaluated potential strategic opportunities, including a possible sale of the Company. Following the May 2024 public announcement of the process, the Company entered into confidentiality agreements with more than 30 parties and engaged with a wide range of potential counterparties, including potential strategic partners and financial sponsors. Five bidders submitted preliminary, non-binding indications of interest. However, the Company did not receive any final proposals.

"The Board undertook the review of strategic alternatives with the primary objective of maximizing stockholder value," stated Greg Garrison, Chairman of the Board. "After engaging with over 30 parties, the Board has unanimously decided to end the strategic review. However, we remain open to all opportunities that enhance stockholder value."

Mr. Garrison continued, “The Board and management felt it was essential for Veradigm to share this announcement to maintain transparency with our investors, employees, customers, and partners regarding the execution and outcome of the strategic review. Our leadership team is focused on completing the restatement of Veradigm’s 2022 financial statements, becoming current in Veradigm’s financial reporting and relisting our common stock, executing our standalone strategy, and delivering end-to-end solutions that empower our clients and strengthen provider relationships.”

Go-Forward Plan

As a part of ongoing strategic planning, Veradigm has engaged an independent strategic advisory firm to assist in refining the go-forward plan for the business. The objective of the business review is to identify potential operational improvements and improve organizational alignment, all designed to generate profitable growth. This reflects the Company’s commitment to positioning the business for long-term success while exploring paths to drive stockholder value.

As Veradigm moves forward with its standalone strategy, it remains fully committed to long-term growth and profitability. Veradigm’s unique approach, built on connectivity, scale, and expertise, makes it a market leader in empowering clients and providing a high-quality, end-to-end experience.

“We believe Veradigm remains well-positioned to capitalize on the significant market opportunity ahead of us,” said Tom Langan, interim Chief Executive Officer of Veradigm. “Our leadership team has been working closely on developing the best path forward for our employees, our clients, and our stockholders.”

Financial and Business Update

In mid-March 2025, Veradigm intends to provide updated fiscal year 2023 and preliminary fiscal year 2024 estimated unaudited financial ranges and a business and audit update. Veradigm will host a conference call and webcast at that time. Following that March investor update, Veradigm plans to return to a regular cadence of providing investor updates, including providing financial guidance.

"The Board and management team deeply appreciate the support of our employees, customers, partners, and investors," said Mr. Langan. "As we move forward, our focus remains on executing our strategy to deliver maximum value for our customers and stockholders."

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