OptimizeRx Announces Departure of CEO William Febbo and Appointment of Stephen Silvestro as Interim CEO
OptimizeRx (Nasdaq: OPRX) announced that CEO William J. Febbo will depart the company effective December 31, 2024, with advisory services continuing through March 31, 2025. Stephen Silvestro, who has served as Chief Commercial Officer and President, has been appointed as interim CEO while the Board conducts a search for a permanent replacement.
During Febbo's nearly nine-year tenure, he transformed the company from a single point of care product to an omnichannel platform serving top pharmaceutical companies. The company reaffirmed its 2024 financial guidance, expecting results at the higher end of its revenue and adjusted EBITDA guidance range.
OptimizeRx (Nasdaq: OPRX) ha annunciato che il CEO William J. Febbo lascerà l'azienda il 31 dicembre 2024, continuando a fornire servizi di consulenza fino al 31 marzo 2025. Stephen Silvestro, che ha ricoperto il ruolo di Chief Commercial Officer e Presidente, è stato nominato CEO ad interim mentre il Consiglio cerca un sostituto permanente.
Durante il quasi nove anni di mandato di Febbo, ha trasformato l'azienda da un prodotto a punto di assistenza a una piattaforma omnicanale al servizio delle principali aziende farmaceutiche. L'azienda ha confermato le previsioni finanziarie per il 2024, prevedendo risultati nella parte alta del proprio intervallo di guida sui ricavi e sull'EBITDA rettificato.
OptimizeRx (Nasdaq: OPRX) anunció que el CEO William J. Febbo dejará la empresa a partir del 31 de diciembre de 2024, continuando con servicios de asesoría hasta el 31 de marzo de 2025. Stephen Silvestro, quien ha sido Director Comercial y Presidente, ha sido nombrado CEO interino mientras la Junta lleva a cabo la búsqueda de un reemplazo permanente.
Durante casi nueve años de mandato de Febbo, transformó la empresa de un producto de punto de atención a una plataforma omnicanal que atiende a las principales compañías farmacéuticas. La empresa reafirmó su guía financiera para 2024, esperando resultados en el extremo superior de su rango de guía para ingresos y EBITDA ajustado.
OptimizeRx (Nasdaq: OPRX)는 CEO William J. Febbo가 2024년 12월 31일부로 회사를 떠날 것이라고 발표했으며, 자문 서비스는 2025년 3월 31일까지 계속될 예정입니다. Stephen Silvestro는 최고 상업 책임자이자 사장으로 재직해 왔으며, 이사회가 영구적인 후임자를 찾는 동안 임시 CEO로 임명되었습니다.
Febbo가 거의 9년 동안 재임하는 동안, 그는 회사를 단일 진료 지점 제품에서 주요 제약 회사를 대상으로 하는 옴니채널 플랫폼으로 혁신했습니다. 회사는 2024년 재무 가이드를 재확인하며, 수익 및 조정된 EBITDA 가이드 범위의 상위 부문에서 결과를 기대하고 있습니다.
OptimizeRx (Nasdaq: OPRX) a annoncé que le PDG William J. Febbo quittera l'entreprise à compter du 31 décembre 2024, avec des services de conseil se poursuivant jusqu'au 31 mars 2025. Stephen Silvestro, qui a été directeur commercial et président, a été nommé PDG par intérim pendant que le Conseil mène une recherche pour un remplaçant permanent.
Au cours du mandat de près de neuf ans de Febbo, il a transformé l'entreprise d'un produit de point de soins en une plateforme omnicanale servant les grandes entreprises pharmaceutiques. L'entreprise a réaffirmé ses prévisions financières pour 2024, s'attendant à des résultats dans la partie supérieure de sa fourchette de prévisions de revenus et d'EBITDA ajusté.
OptimizeRx (Nasdaq: OPRX) gab bekannt, dass CEO William J. Febbo das Unternehmen zum 31. Dezember 2024 verlassen wird, während die Beratungsdienste bis zum 31. März 2025 weitergeführt werden. Stephen Silvestro, der als Chief Commercial Officer und Präsident tätig war, wurde interimistisch zum CEO ernannt, während der Vorstand nach einem dauerhaften Nachfolger sucht.
Während Febbos fast neunjähriger Amtszeit verwandelte er das Unternehmen von einem Produkt für den Gesundheitsbereich in eine Omnichannel-Plattform, die führenden Pharmaunternehmen dient. Das Unternehmen bestätigte seine finanziellen Prognosen für 2024 und erwartet Ergebnisse am oberen Ende seiner Umsatz- und angepassten EBITDA-Prioritäten.
- Company expects to achieve high end of 2024 revenue and adjusted EBITDA guidance
- Smooth leadership transition with experienced internal candidate as interim CEO
- Continued advisory support from departing CEO through Q1 2025
- Unexpected departure of long-term CEO who led company growth for 9 years
- Uncertainty period during search for permanent CEO replacement
WALTHAM, Mass., Dec. 23, 2024 (GLOBE NEWSWIRE) -- OptimizeRx Corp. (the “Company”) (Nasdaq: OPRX), a leading provider of healthcare technology solutions helping life sciences companies reach and engage healthcare professionals (HCPs) and patients, today announced that William J. Febbo, Chief Executive Officer (CEO) and Board Member, will be departing the Company, effective as of December 31, 2024, to pursue other opportunities. Mr. Febbo will provide the Company with advisory services through March 31, 2025. The Company’s Board of Directors has retained a search firm to assist in this transition.
“The time is right to pass the reins on to an incredible team, ready to carry the legacy forward with strength and purpose,” underscored Mr. Febbo. “With a clear market opportunity and the ability to deliver, they have my ongoing and unwavering support.”
“We are extremely grateful for Will’s leadership at the helm of OptimizeRx for nearly nine years,” said Lynn Vos, Chairperson of OptimizeRx’s Board of Directors. “During his tenure, Will grew the Company exponentially, partnering with the top pharmaceutical companies, and he transformed the Company’s capabilities from a single point of care product to an unrivaled omnichannel platform. We believe the foundation he’s helped build will position OptimizeRx for meaningful growth over the coming years.”
“The Board of Directors is very pleased to announce that Stephen Silvestro has been appointed as the interim CEO while a search of candidates is conducted,” continued Lynn Vos. “Steve started at OptimizeRx over six years ago and has led our commercial organization during that time as the Chief Commercial Officer prior to becoming the Company’s President last year, and he will continue to be supported by our extremely experienced and talented extended leadership team.”
“I am honored to have the Board’s trust and will remain resolute on scaling our business as we differentiate ourselves within the market through our technology and continue to build meaningful strategic partnerships with our clients. We will be laser-focused on operational excellence while ensuring we delight our clients and forge stronger relationships with valued business partners,” added Steve Silvestro.
The Company reaffirms its financial guidance for the full year 2024 and expects it will come in at the higher end of its guidance range for revenue and adjusted EBITDA.
About OptimizeRx
OptimizeRx provides best-in-class health technology that enables care-focused engagement between life sciences organizations, healthcare providers, and patients at critical junctures throughout the patient care journey. Connecting over 2 million U.S. healthcare providers and millions of their patients through an intelligent technology platform embedded within a proprietary digital point-of-care network, as well as mass digital communication channels, OptimizeRx helps life sciences organizations engage and support their customers.
For more information, follow the Company on Twitter, LinkedIn or visit www.optimizerx.com.
Important Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates”, “believes”, “estimates”, “expects”, “forecasts”, “intends”, “plans”, “projects”, “targets”, “designed”, “could”, “may”, “should”, “will” or other similar words and expressions are intended to identify these forward-looking statements. All statements that reflect the Company’s expectations, assumptions, projections, beliefs or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements relating to the Company’s growth, business plans, future performance. These forward-looking statements are based on the Company’s current expectations and assumptions regarding the Company’s business, the economy, and other future conditions. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise, except as required by applicable law. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, seasonal trends, our ability to maintain our contracts with electronic prescription platforms, competition, and other risks summarized in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, its subsequent Quarterly Reports on Form 10-Q, and its other filings with the Securities and Exchange Commission.
OptimizeRx Contact
Andy D’Silva, SVP Corporate Finance
adsilva@optimizerx.com
Investor Relations Contact
Sandya von der Weid
LifeSci Advisors, LLC
svonderweid@lifesciadvisors.com
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