Teladoc Health Chief Operating Officer and Chief Financial Officer Resigns
December 17 2018 - 8:35AM
Teladoc Health (NYSE: TDOC), the global leader in virtual care,
today announced that Mark Hirschhorn has resigned as Executive Vice
President, Chief Operating Officer and Chief Financial Officer for
Teladoc Health, effective January 1, 2019.
Mr. Hirschhorn said, “While this was a difficult decision, it’s
the right one for my family and the company. It has been an
enormous privilege to play a role in transforming how people access
healthcare around the world, and I know the talented team at
Teladoc Health is well positioned to continue advancing this
important mission.”
“The Board and I appreciate Mark’s contributions, and we support
his decision,” said Teladoc Health CEO Jason Gorevic.
Leadership TransitionThe company has initiated
a formal search process to fill the roles of Chief Operating
Officer and Chief Financial Officer. While the search is underway,
two trusted leaders will take on these responsibilities during the
transition. Teladoc Health President Peter McClennen will take on
the role of Interim Chief Operating Officer and Senior Vice
President, Chief Accounting Officer, and Controller Gabriel
Cappucci will coordinate all finance activity, until permanent
replacements are named. In addition, Mr. Cappucci will continue to
have authority over accounting and financial statement
preparation.
Mr. Gorevic added, “The Board and I are confident that the
Teladoc Health leadership team will continue to execute on our
mission and drive a high level of performance across channels and
geographies.”
Business PerformanceToday, Teladoc Health also
reaffirmed its updated guidance provided on November 1, 2018, which
reflects the significant momentum it carries into the end of year
and into 2019.
For the fourth quarter 2018, it continues to expect:
- Revenue to be in the range of $119 million to $121
million.
- EBITDA to be in the range of a loss of $(9) million to a loss
of $(11) million.
- Adjusted EBITDA to be in the range of $4 million to $6
million.
- Total visits to be between 720,000 and 820,000.
- Net loss per share, based on 70.4 million weighted average
shares outstanding, to be between $(0.36) and $(0.38).
For the full-year 2018, it continues to expect:
- Revenue to be in the range of $414 million to $416
million.
- EBITDA to be in the range of a loss of $(36) million to a loss
of $(38) million.
- Adjusted EBITDA to be in the range of $12 million to $14
million.
- Total U.S. paid membership to be in the range of 22.6 million
to 23.5 million and visit fee only access to be available to
approximately 9.4 million individuals at December 31, 2018.
- Total visits to be between 2.5 million to 2.6 million.
- Net loss per share, based on 65.9 million weighted average
shares outstanding, to be between $(1.48) and $(1.50).
About Teladoc HealthA mission-driven
organization, Teladoc Health, Inc. is successfully transforming how
people access and experience healthcare, with a focus on high
quality, lower costs, and improved outcomes around the world. The
company’s award-winning, integrated clinical solutions are
inclusive of telehealth, expert medical services, AI and analytics,
and licensable platform services. With more than 2,000 employees,
the organization delivers care in 125 countries and in more than 20
languages, partnering with employers, hospitals and health systems,
and insurers to transform care delivery. For more information,
please visit www.teladochealth.com or
follow @TeladocHealth on Twitter.
Media Contacts: Raul Damas/Shahed
LarsonBrunswick
Group212-333-3810rdamas@brunswickgroup.comslarson@brunswickgroup.com
Courtney McLeod Teladoc Health
203-253-3257cmcleod@teladochealth.com
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