OptimizeRx Engages UHY as New Independent Registered Public Accounting Firm
ROCHESTER, Mich., June 29, 2020 (GLOBE NEWSWIRE) -- OptimizeRx Corp. (Nasdaq: OPRX), a leading provider of digital health solutions for life science companies, payers, providers and patients, has engaged UHY LLP as its new auditor, effective Monday, June 22. There were no accounting disagreements or issues with the prior auditor.
UHY has 21 offices nationwide, with several local to the company’s headquarters in Southeastern Michigan. It serves companies ranging from mid-sized to the Fortune 500, throughout the U.S. and around the globe.
“We are excited to welcome UHY as our new auditor,” said OptimizeRx CFO, Doug Baker. “We anticipate using an auditor with local offices to have a significant positive impact on the efficiency of our audit, including the elimination of travel, especially in the new COVID-19 world.”
For additional details, please see the company’s Form 8-K filed Friday, June 26 and posted to the SEC Filings page on the company website.
Baker added: “Just as an update, in our Form 10-K filed on March 26, we reported on two weaknesses in internal control. They had no impact on our financial results and we received an unqualified opinion on our financial statements for the year ended December 31, 2019. They are largely behind us, and we expect them to be completely remediated and removed no later than the end of the third quarter.”
OptimizeRx also reported that it has been listed again on the Russell Microcap® and 3000® Indexes, following the conclusion of the 2019 Russell indexes annual reconstitution, effective today.
Membership in the Russell Microcap and 3000 Indexes, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective market capitalization rankings and style attributes. OptimizeRx has been listed on Russell Microcap and 3000 Indexes since 2019.
“Our renewed membership in the Russell Indexes represents another important milestone for OptimizeRx, after generating record Q1 results,” commented company CEO, William Febbo. “We believe this listing reflects that we’ve arrived at an inflection point in terms of growth and development with our acceleration in platform adoption and the further transformation of the company’s revenue model into Saa-based enterprise-level deployments. We welcome this greater visibility in the investment community as we continue to expand our nationwide digital connectivity at the point-of-care and our customer base, which now includes Epic and Cerner Health Systems and the world’s top 20 pharmaceutical companies.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against the Russell U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information about the Russell indexes reconstitution, see the Russell Reconstitution section on the FTSE Russell website.
About UHY LLP
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FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $16 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create investment funds, ETFs, structured products and index-based derivatives. FTSE Russell indexes also provide clients with tools for asset allocation, investment strategy analysis and risk management.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on index innovation and customer partnership applying the highest industry standards and embracing the IOSCO Principles. FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
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