Veradigm agrees to board refreshment in settlement with Kent Lake Capital
Healthcare industry executives Vinit Asar and Louis Silverman joined the board on Thursday and two additional independent directors, who will be selected with Kent Lake's approval, will join later, the company said.
Board member Jonathan Judge stepped down and Chairman Greg Garrison will retire soon. The board currently has five members.
Earlier this year Veradigm, which changed its name from Allscripts two years ago, said it will continue to be a "standalone" company after having reviewed strategic alternatives, including a potential sale.
Kent Lake managing member Benjamin Natter said he believes the company, currently valued at $527 million, can deliver value to customers and generate attractive returns for shareholders.
Veradigm provides physician practices, hospitals, and other healthcare providers with practice management and electronic health record technology as well as financial and analytics technology.
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