Brief: Streamline Health® Executes Strategic Restructuring, Provides Corporate Update

Streamline Health Solutions

16/10/2023 12:04

Oct 16 (Reuters) - Streamline Health Solutions Inc
 STRM.O :
    * STREAMLINE HEALTH® EXECUTES STRATEGIC RESTRUCTURING,
PROVIDES
CORPORATE UPDATE
    * STREAMLINE HEALTH® EXECUTES STRATEGIC RESTRUCTURING,
PROVIDES
CORPORATE UPDATE
    * STREAMLINE HEALTH SOLUTIONS INC - BENJAMIN STILWILL
APPOINTED
CHIEF EXECUTIVE OFFICER
    * STREAMLINE HEALTH SOLUTIONS INC - TEE GREEN TRANSITIONING
TO
EXECUTIVE CHAIRMAN
    * STREAMLINE HEALTH SOLUTIONS INC - BRYANT "B.J." REEVES
APPOINTED
INTERIM CHIEF FINANCIAL OFFICER
    * STREAMLINE HEALTH SOLUTIONS INC - SUSPENDING PREVIOUS
GUIDANCE
RELATED TO BOOKED SAAS ACV
    * STREAMLINE HEALTH SOLUTIONS - ANTICIPATES PROVIDING
UPDATES ON
FUTURE EXPECTATIONS IN CONJUNCTION WITH RELEASE OF ITS FISCAL Q3
2023 FINANCIAL RESULTS
    * STREAMLINE HEALTH SOLUTIONS INC - AS PART OF STRATEGIC
RESTRUCTURING INITIATIVES, CO IMPLEMENTED REDUCTION IN FORCE OF
ABOUT 26 EMPLOYEES
    * STREAMLINE HEALTH SOLUTIONS INC - IMPLEMENTED A REDUCTION
IN
FORCE OF APPROXIMATELY 26 EMPLOYEES
    * STREAMLINE HEALTH SOLUTIONS INC - IS SUSPENDING PREVIOUS
GUIDANCE RELATED TO BOOKED SAAS ACV
    * STREAMLINE HEALTH SOLUTIONS INC - EXPECTS TO RECORD A
ONE-TIME
RESTRUCTURING EXPENSE OF APPROXIMATELY $0.8 TO $1.2 MILLION
RELATED TO REDUCTION IN FORCE
    * STREAMLINE HEALTH SOLUTIONS INC - EXPECTS EXPENSE
ASSOCIATED
WITH STRATEGIC RESTRUCTURING TO BE SUBSTANTIALLY RECOGNIZED BY
END OF FISCAL 2023
    * STREAMLINE HEALTH SOLUTIONS INC - EXPECTS TO REALIZE
ANNUALIZED
COST SAVINGS OF ABOUT $5.8 MILLION AS A RESULT OF STRATEGIC
RESTRUCTURING INITIATIVES
    * STREAMLINE HEALTH SOLUTIONS INC - ANNOUNCED RECEIPT OF A
TERMINATION NOTICE FROM A CLIENT WITH AN EFFECTIVE DATE OF
DECEMBER 31, 2023
    * STREAMLINE HEALTH SOLUTIONS INC - RECEIVED TERMINATION
NOTICE
FROM CLIENT WITH A $4.5M ANNUALIZED REVENUE RUN RATE

Source text for Eikon:  ID:nGNX2TfCJ3 
Further company coverage:  STRM.O 

 ((Reuters.Briefs@thomsonreuters.com))