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TLMD - Soc Telemed Inc News Story

$0.62 0.0  0.2%

Last Trade - 7:26pm

Sector
Healthcare
Size
Micro Cap
Market Cap £46.3m
Enterprise Value £73.1m
Revenue £92.3m
Position in Universe 5831st / 7414

BRIEF-Soc Telemed Board Approves Certain Strategic, Operational And Organizational Plans

Wed 3rd November, 2021 10:37pm
Nov 3 (Reuters) - Soc Telemed Inc  TLMD.O :
    * SOC TELEMED INC - ON OCTOBER 28, BOARD APPROVED CERTAIN
STRATEGIC, OPERATIONAL AND ORGANIZATIONAL PLANS
    * SOC TELEMED INC - IN CONNECTION WITH ACTIONS, EXPECTS TO
REDUCE
NON-CLINICAL HEADCOUNT BY ABOUT 12%
    * SOC TELEMED INC - ALSO PLANS TO DOWNSIZE, VACATE OR CLOSE
CERTAIN FACILITIES AND TERMINATE CERTAIN CONTRACTS IN CONNECTION
WITH THE RESTRUCTURING PLAN
    * SOC TELEMED INC - ESTIMATES CO WILL INCUR UP TO $3 MILLION
IN
COSTS IN CONNECTION WITH THE RESTRUCTURING
    * SOC TELEMED INC - ESTIMATES CO WILL INCUR UP ABOUT $2
MILLION
FOR SEVERANCE AND TERMINATION BENEFITS
    * SOC TELEMED INC - ESTIMATES CO WILL INCUR UP ABOUT $1
MILLION
FOR SITE CLOSURES AND OTHER EXIT AND DISPOSAL COSTS
    * SOC TELEMED INC - RESTRUCTURING ACTIONS ARE EXPECTED TO BE
SUBSTANTIALLY COMPLETED BY THE END OF 2021
    * SOC TELEMED INC - ESTIMATES ANNUALIZED BENEFITS FROM THE
RESTRUCTURING PLAN OF APPROXIMATELY $7-9 MILLION AFTER CALENDAR
YEAR 2021

Source text: (https://bit.ly/3mIMbYp)
Further company coverage:  TLMD.O 

 ((Reuters.Briefs@thomsonreuters.com;))
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