RESTON,
Va., Sept. 1, 2021 /PRNewswire/ -- SOC
Telemed, Inc. (NASDAQ: TLMD), the largest national provider of
acute care telemedicine, today announced the appointment of a new
leadership team and organization-wide realignment designed to
accelerate growth, drive operational effectiveness and
efficiencies, and ensure the highest levels of client success. With
these changes, SOC Telemed is well positioned to respond to
evolving industry demand for specialty telemedicine services, while
continuing to innovate solutions which optimize clinical,
operational, and financial performance. The Board appointed board
member Chris Gallagher, MD, as Chief
Executive Officer effective immediately, replacing John Kalix, who has stepped down from this
position and resigned from the Board.
Dr. Gallagher is founder and former Chief Executive
Officer of Access Physicians, which was acquired by SOC Telemed
earlier this year. He also serves on the SOC Telemed Board of
Directors. Dr. Gallagher brings more than 10 years of
experience as the chief executive of a telemedicine business and is
board-certified in internal medicine and cardiovascular
disease.
Dr. Gallagher will lead SOC Telemed's newly formed
Executive Leadership Council, which will be responsible for overall
company strategy, growth, and performance. As part of the
leadership reorganization, David
Mikula will assume the role as Chief Operating Officer. He
was previously the Chief Operating Officer of Access Physicians and
has more than 14 years of experience leading operations and sales
at healthcare companies.
The company is also announcing that Joe Greskoviak has been elevated to the role of
Vice Chairman of the SOC Telemed Board of Directors. He brings more
than 30 years of leadership experience to this role, most recently
as the Chief Operating Officer, Chief Executive Officer, and board
member of Press Ganey. He will work closely with Dr. Gallagher and
his team on key strategic and operational initiatives through
the transition.
"These leadership changes are pivotal in aligning the
business as a tech-enabled clinical services company, now the
largest pure-play provider of acute care telemedicine," said
Steve Shulman, Chairman of the
Board. "Through the Access Physicians acquisition earlier this
year, we acquired the longest-tenured, most experienced, inpatient
multispecialty telemedicine leadership team in the industry. The
Board sees enormous growth opportunities on which SOC Telemed can
capitalize and have tapped this team to lead the efficient
integration of the two companies to execute against these
opportunities."
Shulman continued, "On behalf of the entire Board, I want
to thank John for his service to SOC Telemed, particularly during a
critical time of transition in the company's history, and against
the unprecedented backdrop of the global pandemic. I also want to
express the Board's appreciation to Dr. Gallagher, who brings a
decade of telemedicine experience, and thank him for accepting this
important role. We have great confidence in his abilities as a
leader and in the other executives who have been named to the
Executive Leadership Council."
"It is an honor to serve the company in this new capacity.
I look forward to working with the Board, Executive Leadership
Council, our physician leadership teams, and the dedicated
employees of SOC Telemed to realign our offerings with customer
expectations, as we work toward a leaner, more transparent
organization," said Chris Gallagher,
CEO of SOC Telemed. "COVID-19 has changed the telemedicine
landscape forever, and stressors like COVID present new
opportunities to expand quality, tech-enabled clinical services.
Today, we must evolve rapidly to meet the clinical demands of our
customers, reorienting our combined organization to deliver both
clinical and market value."
We understand investors may have questions and we are
working to schedule an introductory conference call with the
investor community next week.
About SOC Telemed
SOC Telemed (NASDAQ: TLMD, "SOC") is the leading national
provider of tech-enabled acute clinical services to hospitals,
health systems, post-acute providers, physician networks, and
value-based care organizations since 2004. The company reconstructs
the care experience to create new expectations for clinical
excellence, customer service, and financial sustainability through
telemedicine. SOC combines exceptional providers, scalable clinical
programs, and secure telemedicine technology, including Telemed IQ,
to virtually deliver patient care through teleNeurology,
telePsychiatry, teleCritical Care, telePulmonology, teleCardiology,
teleInfectious Disease, teleNephrology, teleMaternal Fetal Medicine
and other service lines. The company was the first provider of
acute clinical telemedicine services to earn The Joint Commission's
Gold Seal of Approval and has maintained that accreditation every
year since inception. For more information, visit
www.soctelemed.com.
Forward-Looking Statements
This press release includes "forward-looking statements"
within the meaning of the "safe harbor" provisions of the United
States Private Securities Litigation Reform Act of 1995. In some
cases, you can identify these forward-looking statements by the use
of terms such as "expect," "will," "continue," or similar
expressions, and variations or negatives of these words, but the
absence of these words does not mean that a statement is not
forward-looking. All statements other than statements of historical
fact are statements that could be deemed forward-looking
statements, including, but not limited to: statements regarding the
impact and expected benefits of transitions in management and the
formation of the Executive Leadership Council, demand for
integrated offerings of acute telemedicine and any other statements
regarding SOC Telemed's future expectations, beliefs, plans,
objectives, results of operations, financial condition and cash
flows, or future events or performance. These statements are
subject to known and unknown risks, uncertainties and other factors
that may cause our actual results, levels of activity, performance
or achievements to differ materially from results expressed or
implied in this press release. Such risk factors include, but
are not limited to, those related to: the effects of disruption to
SOC Telemed's businesses; transaction costs; SOC Telemed's ability
to achieve the benefits from the transaction; SOC Telemed's ability
to effectively integrate acquired operations into its own
operations; the ability of SOC Telemed to retain and hire key
personnel; unknown liabilities; and the diversion of management
time on transaction-related issues. Other important factors that
could cause actual results to differ materially from those in the
forward-looking statements include: the current and future impact
of the COVID-19 pandemic on SOC Telemed's business and industry;
the effects of competition on the future business of SOC Telemed;
uncertainty regarding the demand for and market utilization of its
solution; returns on investments in its business; the ability to
maintain customer relationships; difficulties maintaining and
expanding its network of qualified physicians and other provider
specialists; disruptions in SOC Telemed's relationships with
affiliated professional entities or third party suppliers or
service providers; general business and economic conditions; the
ability of SOC Telemed to successfully execute strategic plans; the
timing and market acceptance of new solutions or success of new
enhancements, features modifications to existing solutions and the
degree to which they gain acceptance. Additional information
concerning these and other risk factors is contained in the Risk
Factors section of SOC Telemed's most recent quarterly report on
Form 10-Q and in subsequent filings with the U.S. Securities and
Exchange Commission. SOC Telemed assumes no obligation, and does
not intend, to update these forward-looking statements as a result
of future events or developments, except as required by law.
Readers are cautioned not to place undue reliance on these
forward-looking statements that speak only as of the date
hereof.
Media Relations:
Lauren Shankman
Trevelino/Keller
lshankman@trevelinokeller.com
Investor Relations:
Steve Rubis
Vice President, Investor Relations
SOC Telemed
P: (214) 681-7991
srubis@soctelemed.com
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SOURCE SOC Telemed