The Oncology Institute Announces CFO Transition

Rhea-AI Summary

The Oncology Institute (NASDAQ: TOI) has announced a CFO transition. Mihir Shah, the current CFO, will leave the organization on October 14, 2024. Rob Carter, Senior Vice President of Finance, will be promoted to Chief Financial Officer. Carter, who joined TOI in 2021, brings over a decade of finance leadership experience from notable healthcare institutions.

CEO Dr. Daniel Virnich expressed excitement about Carter's promotion, citing his experience in oncology and large health systems. Virnich also thanked Shah for his contributions, including leading TOI through its early years as a public company and improving capabilities in reporting, compliance, and analytics.

Carter stated his honor in becoming TOI's next CFO and his belief in the company's future growth and innovation. TOI, founded in 2007, delivers specialized, value-based cancer care in community settings, serving over 1.8 million patients with 126 employed clinicians and more than 700 teammates across 70+ clinic locations.

Positive

• Promotion of experienced internal candidate Rob Carter to CFO position
• Smooth transition plan for CFO role
• Company's growth to over 70 clinic locations
• Serving a population of over 1.8 million patients

Negative

• Departure of current CFO Mihir Shah

Rob Carter promoted to Chief Financial Officer

CERRITOS, Calif., Sept. 23, 2024 (GLOBE NEWSWIRE) -- The Oncology Institute, Inc. (NASDAQ: TOI) (“TOI” or the “Company”), today announced that Chief Financial Officer, Mihir Shah, will transition out of the organization effective October 14, 2024, to pursue other opportunities. Rob Carter, Senior Vice President of Finance at TOI, will be promoted to Chief Financial Officer.

Mr. Carter brings over a decade of finance leadership experience across several notable healthcare institutions. Mr. Carter joined TOI in 2021, and is responsible for corporate finance, FP&A and investor relations. Prior to joining TOI, Mr. Carter oversaw financial planning and analysis at Hoag Health System. Prior to that, he served in various financial leadership roles at Kaiser Permanente, SCAN Health Plan, and McKesson.

Dr. Daniel Virnich, Chief Executive Officer at TOI, commented, “I’m excited to announce the promotion of Rob to the role of Chief Financial Officer.  He brings a wealth of experience in both oncology and large health systems, has been instrumental to our finance operations over the last several years, and is the right leader for the next phase of TOI’s growth.”

Dr. Virnich added, “I want to thank Mihir for his many contributions to TOI. Over the past two and a half years he has led us through our early years as a public company and significantly improved our capabilities around reporting, compliance, and analytics as well as a number of other critical capabilities in finance and accounting. On behalf of the whole team, we wish him the best in his future endeavors.”

Mr. Carter commented, “I’m honored by the opportunity to serve as the next CFO for The Oncology Institute. I believe we have an incredible amount of growth and innovation ahead of us, and I look forward to continue working closely with Dan and the rest of our leadership team to ensure we are delivering value to our patients and payor partners every day.”

About The Oncology Institute

Founded in 2007, TOI is advancing oncology by delivering highly specialized, value-based cancer care in the community setting. TOI offers cutting-edge, evidence-based cancer care to a population of over 1.8 million patients including clinical trials, transfusions, and other services traditionally associated with the most advanced care delivery organizations. With nearly 126 employed clinicians and more than 700 teammates in over 70 clinic locations and growing, TOI is changing oncology for the better. For more information visit www.theoncologyinstitute.com.

Investors

Solebury Strategic Communications
investors@theoncologyinstitute.com

FAQ

Who is the new CFO of The Oncology Institute (TOI)?

Rob Carter, previously Senior Vice President of Finance at TOI, has been promoted to Chief Financial Officer.

When will the CFO transition at The Oncology Institute (TOI) take place?

The CFO transition will be effective October 14, 2024, when current CFO Mihir Shah leaves the organization.

How many clinic locations does The Oncology Institute (TOI) currently have?

The Oncology Institute (TOI) has over 70 clinic locations and is continuing to grow.

What is the stock symbol for The Oncology Institute?

The Oncology Institute trades on NASDAQ under the stock symbol TOI.