SCWorx Announces Hiring of Tad Schweikert as Chief Operating Officer

Key hire reflects company’s commitment to continuing to drive
innovation and growth within the healthcare industry

NEW YORK–(BUSINESS WIRE)–SCWorx Corp (Nasdaq: WORX) announced today that the company has hired
veteran healthcare leader and innovator, Tad Schweikert, as Chief
Operating Officer responsible for leading the company’s continued growth
and scaling its operations. Mr. Schweikert is reporting to SCWorx
Chairman & Chief Executive Officer Marc Schessel.

Schweikert, who brings over 28 years of healthcare industry experience,
will be responsible for the strategic growth of the SCWorx customer base
and revenue. His team will drive the company’s business development
efforts and be responsible for operations for all commercial activities
across the company’s existing and potential healthcare provider
customers and partners in the United States.

“SCWorx is investing in the talent necessary to develop even more
industry-leading data management service offerings so that our
healthcare provider customers can operate more efficiently, improve
margins and utilize our unique solutions to positively impact business
operations,” said Schessel. “Tad is an outstanding senior leader with a
proven track record in the healthcare industry. He and his SCWorx team
will be instrumental in deepening our commitment to provide healthcare
providers with the capabilities and services that make it easier to
utilize, and benefit from, SCWorx products and services.”

The company has made significant, ongoing investments in our data
management services to respond to the urgent business needs of customers
within this evolving marketplace. Recent examples of the company’s
progress include the signing of a large industry partner, significant
customer wins and the recent launch of a beta version of an advanced web
portal application.

“It’s an honor to have the opportunity to join SCWorx, a company I have
admired and watched closely,” said Schweikert. “SCWorx has a solid
reputation as an innovator in healthcare, is respected for its
technology and admired for its people. I am looking forward to leading
this dynamic, talented team as we help build the company’s future. It’s
going to be an exciting time for customers, partners and employees of
SCWorx and it’s a privilege to be part of the team.”

Schweikert was most recently a Senior Principal of Enterprise Solutions
at Vizient where he helped grow the business by working with large
integrated delivery systems and academic medical centers to improve
their margins and align organizational and operational strategies.

About SCWorx Corp

SCWorx has created The Platform of One™ an advanced attributed
Virtualized Item Data Warehouse utilizing Machine Learning (ML) and
Artificial Intelligence (AI) in order to offer a suite of SaaS based
solutions for healthcare providers. The value proposition for customers
revolves around all solution modules being fully integrated with the
Virtual Data Warehouse platform. The solution modules include Virtual
Item Master, Contract Management and RFP Module, Automated Rebate
Management Module, Data Interoperability (EMR, MMIS, Finance) Module,
Automated Item Add Portal, Virtual General Ledger (GL), and the Data
Analytics module. SCWorx Platform of One™ creates the Single Source of
Truth for the Healthcare providers’ data governance and data analytics
for the Executives.

Forward-looking Statements

This press release contains “forward-looking statements” that involve
substantial risks and uncertainties for purposes of the safe harbor
provided by the Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical facts, included in this
press release regarding strategy, future operations, future financial
position, prospects, plans and objectives of management are
forward-looking statements. You can identify many (but not all) such
forward-looking statements by looking for words such as “assumes,”
“approximates,” “believes,” “expects,” “anticipates,” “estimates,”
“projects,” “seeks,” “intends,” “plans,” “could,” “would,” “may” or
other similar expressions. You should not place undue reliance on these
forward-looking statements. Such statements are based on management’s
current expectations and involve risks and uncertainties. Actual results
and performance could differ materially from those projected in the
forward-looking statements as a result of many factors, including,
without limitation, securing future contracts and containing costs, the
ability to project future cash utilization and reserves needed for
contingent future liabilities and business operations, the availability
of sufficient resources of the combined company to meet its business
objectives and operational requirements and other important factors that
are detailed in filings with the Securities and Exchange Commission made
from time to time by SCWorx, including its Annual Report on Form 10-K
for the year ended December 31, 2018, Quarterly Reports on Form 10-Q,
and Current Reports on Form 8-K. Matters described in forward-looking
statements may also be affected by other known and unknown risks,
trends, uncertainties and factors, many of which are beyond the
company’s ability to control or predict. SCWorx undertakes no obligation
to release publicly any revisions to any forward-looking statements to
reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events.

Contacts

SCWorx Corp.
John Price, CFO
[email protected]

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