SOC Telemed Announces Leadership Changes
SOC Telemed (NASDAQ: TLMD) announced a leadership overhaul to boost growth and operational efficiency. Dr. Chris Gallagher, founder of Access Physicians, has been appointed as CEO, succeeding John Kalix. Gallagher will head a new Executive Leadership Council focused on strategy and performance. David Mikula takes over as COO, with 14 years of healthcare leadership experience. Joe Greskoviak is elevated to Vice Chairman of the Board. The Board emphasizes the significance of these changes in aligning SOC as a tech-enabled clinical services provider amidst evolving telemedicine demand.
- Leadership changes aimed at accelerating growth and operational efficiency.
- Dr. Chris Gallagher brings over 10 years of telemedicine experience as CEO.
- Formation of the Executive Leadership Council to enhance strategic focus.
- None.
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
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