Veradigm CEO Transition Underway Amid Optimistic Financial Outlook

In June, Veradigm Inc., a healthcare data and technology services firm, announced that interim Chief Executive Officer (CEO) Thomas Langan will depart the company effective July 31, 2025. The company disclosed the transition in an amended Stockholder Agreement filed with the U.S. Securities and Exchange Commission (SEC) on July 24. The board of directors is reviewing candidates as the search for a permanent CEO continues. 

To lead the company during the transition, Veradigm implemented an Interim Office of the Chief Executive Officer (OCEO) beginning August 1. This leadership group includes Jay Bhattacharyya, Senior Vice President (SVP) and General Manager of Veradigm Payer; Eric Jacobson, SVP, Deputy General Counsel and Corporate Secretary; and Lee Westerfield, Interim Chief Financial Officer (CFO). The three executives will share CEO responsibilities while continuing their current roles. 

Also in June, Veradigm shared updates on its Q1 2025 performance. Performance has been mixed, with a focus on resolving past financial reporting issues and a positive outlook for future growth. For Q1, the firm reported revenue between $145 - $147 million, and closed deals with more than $30 million in annual contract value—a 25 percent increase compared to Q1 2024.

Before his departure, Langan—who during his more than seven years with the company served as President and Chief Commercial Officer, and was appointed interim CEO in June 2024—and Westerfield secured a $100 million debt financing package from investment firm Francisco Partners. According to Westerfield, the debt carries an estimated 12% cost to maturity and now represents most of the firm’s long-term liabilities. 

Executive Backgrounds

Jay Bhattacharyya has held leadership roles at Veradigm since 2016, including SVP and General Manager, Chief Strategy Officer, and Chief Operating Officer (COO) for Payer & Life Sciences. He previously co-founded Empire Communications and worked as a financial analyst at The Cigna Group. 

Eric Jacobson joined Veradigm in 2015 and has served as SVP, Corporate Secretary and General Counsel - Data Analytics & Care Coordination and VP, Associate General Counsel, M&A and Securities and Assistant Secretary. Before that, he worked at Motorola Solutions and in private practice at an international law firm. 

Lee Westerfield, Interim CFO since December 2023, previously held CFO roles at Clearsense, Dstillery, Aetion, and Uphold Ltd., as well as other software as a service (SaaS) companies.