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OPKO Health Appoints Dr. Roger Medel to its Board of Directors

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OPKO Health, Inc. (NASDAQ: OPK) announced the appointment of Roger Medel, M.D. as an independent Board member effective December 18, 2020. With this addition, the Board now consists of 11 Directors, including seven independents. Dr. Medel, co-founder of MEDNAX, Inc., brings extensive experience in healthcare services, having led MEDNAX's growth to serve 25% of sick and premature infants in the U.S. His insights are expected to enhance OPKO’s strategic execution, as stated by Chairman Dr. Phillip Frost.

Positive
  • Appointment of Roger Medel adds valuable healthcare experience to the Board.
  • Dr. Medel's leadership at MEDNAX, which handles care for a significant portion of U.S. neonatal patients, can provide strategic insights for OPKO.
Negative
  • Transition challenges may arise due to the new board member's lack of experience specifically within OPKO.
  • Potential risks related to Board coherence and continuity with the introduction of a new independent director.

MIAMI, Dec. 21, 2020 (GLOBE NEWSWIRE) -- OPKO Health, Inc. (NASDAQ: OPK) today announced the appointment of Roger Medel, M.D. as an independent member of its Board of Directors, effective December 18, 2020. With this appointment, the OPKO Health Board has 11 Directors, including seven independent Directors.

“We are delighted to welcome Roger to the OPKO Health Board of Directors,” stated Dr. Phillip Frost, Chairman and Chief Executive Officer of OPKO Health. “Roger brings a unique perspective based on his vast experience as a physician and as an executive growing a successful healthcare services organization. We look forward to Roger’s valuable insight and deep knowledge as we continue to execute OPKO’s strategy.”

Dr. Medel is the co-founder of MEDNAX, Inc., a national health solutions partner comprised of the nation’s leading providers of physician services, and has served as a Director of MEDNAX since 1979. In addition, he served as MEDNAX’s President from its founding until May 2000, then again from March 2003 until May 2004, and as its Chief Executive Officer since its founding until December 2002 then again from March 2003 until his retirement in July 2020. Under his leadership, the company grew from one small group of neonatologists managing care in one local hospital, to a group of more than 1,200 neonatologists and more than 1,000 advanced practice nurses that manages neonatology departments, including neonatal intensive care units in approximately 400 hospitals. Additionally, MEDNAX expanded into the largest group of pediatric cardiologists, pediatric intensivists and maternal fetal specialists. The company currently cares for approximately 25% of the sick and premature babies born annually in the United States.

Dr. Medel has served as a member of the Board of Trustees of the Dana Farber Cancer Institute, Inc. since January 2016. In addition, he was a member of the Board of Trustees of the University of Miami from January 2004 to February 2012, and from June 2006 to April 2009 served on the Board of Directors of MBF Healthcare Acquisition Corp. Dr. Medel actively participates as a member of several medical and professional organizations.

About OPKO Health

OPKO is a multinational biopharmaceutical and diagnostics company that seeks to establish industry-leading positions in large, rapidly growing markets by leveraging its discovery, development, and commercialization expertise and novel and proprietary technologies. For more information, visit www.opko.com.

Contacts:

LHA Investor Relations
Yvonne Briggs, 310-691-7100
ybriggs@lhai.com
or
Bruce Voss, 310-691-7100
bvoss@lhai.com


FAQ

Who is Roger Medel, and what experience does he bring to OPKO Health?

Roger Medel, M.D., co-founder of MEDNAX, Inc., has extensive experience in healthcare services, having significantly grown the company which now cares for a quarter of the sick and premature infants born annually in the U.S.

What is the significance of having an independent member on OPKO's Board of Directors?

Independent board members, like Roger Medel, help provide unbiased perspectives, enhance governance, and contribute to informed decision-making, which can benefit the company's strategic direction.

When was Roger Medel appointed to OPKO Health's Board of Directors?

Roger Medel was appointed as an independent member of OPKO Health's Board of Directors effective December 18, 2020.

How many directors are currently on OPKO Health's Board?

With Roger Medel's appointment, OPKO Health's Board now has a total of 11 Directors, including seven independent members.

What role does Roger Medel have in MEDNAX, Inc.?

Roger Medel has been a Director of MEDNAX since its founding and previously served as President and CEO, leading the company to significant growth in pediatric care services.

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