Drug value and telehealth platform GoodRx has appointed earlier GoDaddy chief Scott Wagner as interim chief government officer, changing cofounders Doug Hirsch and Trevor Bezdek as co-CEOs.
Hirsch and Bezdek will stay inside GoodRx’s management group, with Hirsch appearing as chief mission officer and Bezdek as chairman.
Hirsch will work with the corporate’s neighborhood of healthcare suppliers and pharma companions, whereas Bezdek will advise the corporate’s healthcare technique, develop relationships with business companions and assist pinpoint product and progress alternatives.
Wagner spent eight years at GoDaddy, holding positions of CEO and president, chief working officer and chief monetary officer.
He additionally sits on the board of Kajabi, a platform that permits people to create, market and promote digital content material; DoubleVerify, which helps corporations enhance their internet advertising; crowdfunding platform GoFundMe; and BILL, which provides invoice cost and receivables software program on-line.
“I stay up for serving to the corporate broaden its core shopper market to serve extra folks with a richer, participating expertise for his or her healthcare wants. GoodRx has a lot of thrilling alternatives so as to add worth throughout the ecosystem of healthcare professionals, pharmacies, insurers and producers – all in service of getting the patron the proper treatment affordably and simply,” Wagner mentioned in an announcement.
THE LARGER TREND
In February, GoodRx came under fire by the Federal Trade Commission, which alleged the corporate shared customers’ private well being data with third events like Google and Fb for promoting functions.
The company additionally mentioned the drug value transparency platform allowed third events to make use of that information for their very own inner functions, didn’t set insurance policies on the way it ought to defend its customers’ private well being data and misrepresented its HIPAA compliance.
The corporate agreed to pay a $1.5 million fantastic to settle the case however admitted no wrongdoing.
GoodRx reported its fourth-quarter earnings in March, posting $184.1 million in income in contrast with $213.3 million within the prior-year interval, a 14% drop. Web loss for the quarter was $2 million, in comparison with $39.9 million final 12 months, which the corporate mentioned was resulting from a lower of their provision for revenue taxes.
In 2022, GoodRx reported income of $766.6 million and a internet lack of $32.81 million. In 2021, the corporate posted $745.4 million in income and a $25.3 million internet loss.
The corporate was not resistant to the large layoffs within the tech business final 12 months. In September, it let go of 16% of its workforce or roughly 140 workers, primarily affecting its technology-focused and advertising and marketing segments.