ATLANTA–(BUSINESS WIRE)–July 15, 2020–
Clinigence Holdings, Inc. (“Clinigence” or the “Company”) (OTC: CLNH), a pioneer in medical knowledge integration, medical high quality reporting and inhabitants well being analytics, at this time is offering an replace to its shareholders.
As beforehand introduced on June 3, 2020, Clinigence bought sure of its mental property property and patents, in addition to liabilities of roughly $3.2 million, to Accountable Healthcare America, Inc. (“AHA”) for an mixture buy value of $15 million of Preferred Stock of AHA. Please confer with our press launch put out on June 3, 2020 for extra info.
To additional improve shareholder worth, the Board of Directors of Clinigence Holdings is saying an working restructuring plan and can be exploring strategic alternate options for our fully-reporting working public entity, together with the potential sale or merger of the Company.
As a part of this restructuring plan, Jacob “Kobi” Margolin has introduced his resignation as Chief Executive Officer of the Company. He will proceed to function a director on the Board of the Company. Lawrence Schimmel, M.D., Co-Founder of the Company and present Chief Medical Officer, has been named Interim Chief Executive Officer of Clinigence Holdings.
There might be no assurance of a profitable consequence from these efforts, or of the shape or timing of such consequence.
“On behalf of the Board, we thank Kobi for his service during his tenure as CEO. We are fortunate that Dr. Schimmel has agreed to assume the Interim CEO role during this transition period,” said Warren Hosseinion, M.D., Chairman of the Board of Clinigence.
“I am proud of what we have accomplished so far. It has been a privilege leading an incredible team of talented people dedicated to making healthcare better through innovative technology. I look forward to continuing to help the Company build shareholder value as a Board director,” said Jacob “Kobi” Margolin, Co-Founder of Clinigence.
About Clinigence Holdings, Inc.
Clinigence Holdings, a totally reporting, publicly-held firm, is a number one healthcare info expertise firm offering a sophisticated, cloud-based platform that allows healthcare organizations to supply value-based care and inhabitants well being administration. The Clinigence platform aggregates medical and claims knowledge throughout a number of settings, info methods and sources to create a holistic view of every affected person and supplier and nearly limitless insights into affected person populations. For extra info, please go to www.clinigencehealth.com. Information on our web site doesn’t comprise part of this press launch.
Certain statements and knowledge included on this press launch represent “forward-looking statements” throughout the that means of the Federal Private Securities Litigation Act of 1995. When used on this press launch, the phrases or phrases “will likely result,” “expect to,” “will continue,” “anticipated,” “estimate,” “projected,” “intend,” “goal,” or comparable expressions are meant to determine “forward-looking statements” throughout the that means of the Private Securities Litigation Reform Act of 1995. Such statements are topic to sure dangers, identified and unknown, and uncertainties, together with however not restricted to, challenges concerned in AHA reaching passable enterprise mixture agreements with the SPAC and varied roll-up goal acquisitions, AHA with the ability to fulfill the entire anticipated situations to closing with the SPAC together with acquiring consolidated audited monetary statements, if the SPAC transaction with AHA doesn’t proceed with the ability to enter into and shut the merger transaction with AHA, financial situations, dependence on administration, dilution to shareholders, lack of capital, modifications in legal guidelines or rules, the consequences of fast progress upon the Company and the flexibility of administration to successfully reply to the expansion, demand for services of the Company, newly growing applied sciences, its means to compete, conflicts of curiosity in associated occasion transactions, regulatory issues, safety of expertise, lack of trade requirements, the consequences of competitors, the shortcoming of the Company to acquire or keep the itemizing of the post-acquisition firm’s peculiar shares on Nasdaq following the Merger, and the flexibility of the Company and AHA to acquire further financing which is predicted to be wanted previous to closing of any SPAC transaction. Such components might materially adversely have an effect on the Company’s monetary efficiency and will trigger the Company’s precise outcomes for future intervals to vary materially from any opinions or statements expressed inside this press launch.
Clinigence Holdings, Inc.
Warren Hosseinion, M.D.
Chairman of the Board
Via e-mail at [email protected]