Mark Hirschhorn was caught sharing crucial financial information about his company with a staffer he was having an affair with.
He was forced to resign after being caught for insider trading.
Apparently, he shared confidential information with the staffer without having any regard for the company.
The following review takes a deep dive into his criminal past and how this scammer operates:
What Mark Hirschhorn Claims to Be:
Mark Hirschhorn is the CEO of TapestryHealth and a senior executive with more than 35 years of experience in risk management and financial stewardship. In January 2022, he joined the primary care provider to increase operations through national expansion. Hirschhorn served as the president, COO, and CFO of Talkspace prior to this. ARR for the enterprise division Hirschhorn was tasked with building climbed in 18 months from $1 million to over $50 million. Hirschhorn also oversaw the company’s June 2021 public debut. In 2019, Hirschhorn held the position of chief financial officer (CFO) of Aris Global, a global SaaS provider of pharmacovigilance services to the life sciences industry and regulatory bodies.
Hirschhorn joined Teladoc Health in 2012 as its CFO (and was later named COO in 2017) in the wake of the company’s recent Series D investment. When Hirschhorn joined Teladoc, its sales were less than $10 million. Hirschhorn oversaw the company’s finance and business expansion efforts for the following two years. Hirschhorn discovered and eventually acquired the two-person start-up BetterHelp in 2015, which is now the top virtual behavioral company in the country with annual revenues of over $1.5 billion.
Hirschhorn has over 35 years of experience leading financial and commercial operations, and he is particularly skilled in areas like corporate strategy, process optimization, and contract negotiation. As Institutional Investor, he received the 2017 Best CFO of a Small Cap Healthcare Business award.
About Teledoc Health (The Company Mark Hirschhorn Used to Work At)
Empowering all individuals worldwide. Teladoc Health was established on the straightforward but ground-breaking principle that everyone should have access to the best medical care, whenever and wherever they choose, on their terms. To fulfill their objective, they now offer whole-person virtual care, which covers primary care, mental health, managing chronic conditions, and more. Delivering the highest level of clinical quality at every touchpoint, they are developing technologies to connect with patients and extend the reach of care providers, creating a truly unified and personalized consumer experience, and enhancing health decisions and outcomes with smart data and actionable insights.
Mark Hirschhorn’s Insider Trading and Fraudulent Activities Exposed
Mark Hirschhorn, the chief financial officer of Teladoc, is resigning in the wake of claims that he gave stock recommendations to a coworker with whom he was having an affair.
Hirschhorn, who was also Teladoc’s COO, will step down on January 1st, the business stated on Monday. In a statement, he stated, “Although this was a painful decision, it’s the correct one for my family and the firm.” It has been a tremendous honor to contribute to changing how people get healthcare globally, and I am certain that the excellent Teladoc Health team is well-positioned to carry on this vital task. Jason Gorevic, CEO of Teladoc Health, stated, “The Board and I respect Mark’s accomplishments and we support his choice.
Mark Hirschhorn joined the organization in 2012 as CFO, and in 2016 he was promoted to COO.
Following an investigation by the Southern Investigative Reporting Foundation (SIRF) that exposed Hirschhorn’s relationship with Charece Griffen, a lower-level employee at the company, investors filed a class-action lawsuit against the company last week.
Griffin reportedly told coworkers that Mark Hirschhorn and she enjoyed trading the company’s stock. An outside legal firm’s follow-up examination into the allegations discovered “violations only of our workplace relationship policy,” the corporation claims. Yet, according to a complaint made by one investor, the corporation failed to implement its laws against insider trading and neglected to disclose the improper link to investors. Following the SIRF report, the company’s stock fell 6.7%. Following the resignation news for Mark Hirschhorn, shares fell 4.3% further in premarket trade. In a fresh statement released on Monday afternoon, Teladoc vehemently refuted the allegations in the investor complaint brought last week.
The business responded with a written statement that read, “We deny the allegations in the case and reject any suggestion that we made materially false or misleading statements regarding our business, operations, and compliance practices.” “We hired an outside law firm to look into the allegations against Mark Hirschhorn in 2016 after becoming aware of them. There was no proof of a securities law violation or any other illegal activity after the investigation. Using the judicial system, we will reply to these allegations.”
To fill both of Mark Hirschhorn’s positions, Teladoc has started an official search. Peter McClennen, president of Teladoc Health, has been named interim senior vice president and chief operating officer.
The CEO of Teladoc Health said, “The Board and I are confident that the Teladoc Health leadership team will continue to execute our vision and drive a high level of performance across channels and geographies. The business is still anticipating full-year revenues of up to $416 million and a loss of $36 million to $38 million on a net basis.
Frequently Asked Questions
Who is Mark Hirschhorn?
Senior executive Mark Hirschhorn has overseen finances and operations for several healthcare and technology firms. He has held positions at both private and public firms, where he oversaw finance, treasury, investor relations, and hundreds of business acquisitions. He also led negotiations for four initial public offerings (IPOs). As the CEO of TapestryHealth, a provider of remote vitals management and telehealth services for nursing homes and assisted and independent living communities, Mark Hirschhorn brings this extensive knowledge to his new position. He has concentrated on organically growing and diversifying the company since joining the company in early 2022 to prepare it for regional expansion.
Where is Mark Hirschhorn situated?
Mark Hirschhorn is situated in New York, United States.
What did Mark Hirschhorn do?
Mark Hirschhorn gave stock recommendations to a coworker with whom he was having an affair.
What is the net worth of Mark Hirschhorn?
As of 2023-02-16, Mark Hirschhorn’s estimated net worth is at least $84,944. Mark Hirschhorn was the Executive Vice President, Chief Operating Officer, and Chief Financial Officer of Teladoc Health Inc.
Conclusion
Claiming to be a senior leader with more than 35 years of experience in risk management and financial stewardship, Mark Hirschhorn serves as the CEO of TapestryHealth. He joined the primary care provider in January 2022 to expand operations across the country. Before this, Hirschhorn was Talkspace’s president, COO, and CFO. He had to resign in the wake of claims that he gave stock recommendations to a coworker with whom he was having an affair.
