Spok Appoints New Chief Financial Officer

Industry Veteran Michael W. Wallace Joins Spok Management Team;
Company Appoints Shawn E. Endsley as Chief Accounting Officer

SPRINGFIELD, Va. (March 27, 2017) – SPOK HOLDINGS, INC. (NASDAQ: SPOK), the GLOBAL LEADER IN HEALTHCARE COMMUNICATIONS, today announced that Michael W. Wallace has joined the Company as its new Chief Financial Officer (CFO). He will succeed Shawn E. Endsley in that position, who effective immediately assumes the role of Chief Accounting Officer. Wallace joins Spok from Intermedix, a global leader in healthcare revenue cycle/practice management and data analytics solutions, where he was Executive Vice President and CFO since August 2013. Wallace brings with him a proven ability to manage the finance function in a rapidly growing and changing environment and implementing strategies for improving revenue and profitability.

“I am excited to welcome Mike to Spok’s management team, where he will undoubtedly make an immediate impact as we continue our transition from a telecom-based wireless company to a software provider that delivers industry-leading unified critical communications solutions,” said Vincent D. Kelly, chief executive officer. “We are particularly impressed with Mike’s deep experience in medical diagnostic services, software development, digital/interactive marketing and regulatory compliance. I believe that Mike, and the entire team, will continue our commitment to Spok’s core values of putting the customer first, providing solutions that matter, innovation and accountability; while managing the investments that we are making in our software solutions, operating platform and infrastructure to drive long-term organic growth.”

“I can’t imagine a more exciting time to join Spok,” Wallace said. “Spok’s transformation and the investments that we are making in our systems, people and marketing programs is the right strategy and positions the company well to capture the large market opportunity ahead of us and for sustained, long-term growth. Vince and his executive team recognize and appreciate the importance of Spok’s mission, to deliver clinical information to care teams when and where it matters most to improve patient outcomes, and I am delighted to be a part of it.”

Wallace will lead Spok’s financial operations, including accounting, audit, budgeting, financial planning and analysis, tax, internal and external reporting and investor relations. He will report directly to Kelly. He succeeds Shawn Endsley, who has served as Spok’s CFO since 2010. Endsley will remain at Spok and report to Wallace in the role of Chief Accounting Officer.

“Shawn’s commitment to Spok has been vital to everything this company has achieved during the time he served as CFO,” said Kelly. “I am grateful and want to take this opportunity to thank him for all he has done to support Spok’s transformation from a telecom-based wireless company. However, we mutually agreed that the time was right to transition the CFO role to someone with deeper software industry experience. In his new role, Shawn will help us address regulatory and compliance changes as well as tackle the many opportunities to improve the efficiency and performance of our financial platform.”

Wallace has spent more than 20 years as a financial executive at both public and private companies. Prior to joining Intermedix, Wallace was the Executive Vice President and CFO of The Elephant Group (d.b.a. Saveology.com), a leading Internet-based, direct-to-consumer marketing platform. Prior to that, he served as Senior Vice President and CFO of Radiology Corporation of America, a national provider of mobile and fixed-site positron emission tomography (PET) imaging services. Wallace has also served as an Assistant Chief Accountant in the Securities and Exchange Commission’s (SEC) Division of Enforcement and was a member of the Commission’s Financial Fraud Task Force in Washington, D.C.

Prior to being at the SEC, Wallace served as CFO at Inktel Direct, Corp., a direct marketing service firm, CELLIT Technologies, Inc., a software company serving the contact center marketplace, and Kellstrom Industries, Inc., a publicly held global aerospace company. Before joining Kellstrom, Wallace worked at KPMG Peat Marwick, LLP in Miami for more than seven years. He received his bachelor’s degree in business administration from the University of Notre Dame and is a licensed Certified Public Accountant.

About Spok

Spok, Inc., a wholly owned subsidiary of Spok Holdings, Inc. (NASDAQ: SPOK), headquartered in Plano, Texas, is proud to be a global leader in healthcare communications. We deliver clinical information to care teams when and where it matters most to improve patient outcomes. Top hospitals rely on the Spok Care Connect® platform to enhance workflows for clinicians and support administrative compliance. Our customers send over 70 million messages each month through their Spok® solutions. Spok enables smarter, faster clinical communication.

Spok is a trademark of Spok Holdings, Inc. Spok Mobile and Spok Care Connect are trademarks of Spok, Inc.

Safe Harbor Statement under the Private Securities Litigation Reform Act:

Statements contained herein or in prior press releases which are not historical fact, such as statements regarding Spok’s future operating and financial performance, are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that may cause Spok’s actual results to be materially different from the future results expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expectations include, but are not limited to, our ability to manage wireless network rationalization to lower our costs without causing disruption of service to our customers; our ability to retain key management personnel and to attract and retain talent within the organization; the productivity of our sales organization and our ability to deliver effective customer support; our ability to identify potential acquisitions, consummate and successfully integrate such acquisitions, and achieve the expected benefits of such acquisitions; risks related to the COVID-19 pandemic; economic conditions such as recessionary economic cycles, higher interest rates, inflation and higher levels of unemployment; competition for our services and products from new technologies or those offered and/or developed from firms that are substantially larger and have much greater financial and human capital resources; continuing decline in the number of paging units we have in service with customers, commensurate with a continuing decline in our wireless revenue; our ability to address changing market conditions with new or revised software solutions; undetected defects, bugs, or security vulnerabilities in our products; our dependence on the U.S. healthcare industry; the sales cycle of our software solutions and services can run from six to eighteen months, making it difficult to plan for and meet our sales objectives and bookings on a steady basis quarter-to-quarter and year-to-year; our reliance on third-party vendors to supply us with wireless paging equipment; our ability to maintain successful relationships with our channel partners; our ability to protect our rights in intellectual property that we own and develop and the potential for litigation claiming intellectual property infringement by us; our use of open source software, third-party software and other intellectual property; the reliability of our networks and servers and our ability to prevent cyber-attacks and other security issues and disruptions; unauthorized breaches or failures in cybersecurity measures adopted by us and/or included in our products and services; our ability to realize the benefits associated with our deferred income tax assets; future impairments of our long-lived assets, amortizable intangible assets or goodwill; risks related to data privacy and protection-related laws and regulation; and our ability to manage changes related to regulation, including laws and regulations affecting hospitals and the healthcare industry generally, as well as other risks described from time to time in our periodic reports and other filings with the Securities and Exchange Commission. Although Spok believes the expectations reflected in the forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Spok disclaims any intent or obligation to update any forward-looking statements.

Spok Appoints New Chief Financial Officer

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