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Praxsyn CEO resigns; replacement named

Praxsyn Corp. said Greg Sundem resigned as the company's CEO, president and CFO, effective Sept. 1

Sundem also resigned from his roles at the company's subsidiaries. His resignation was not due to any disagreement, the company said in a Sept. 7 filing.

Praxsyn said Sundem will stay as a board member of Praxsyn and its units.

Meanwhile, the company has named Frank Brady as CEO, president, CFO, secretary and chairman. Brady will replace Sundem in his officer positions in the company's subsidiaries and has been appointed as a board member at those companies as well.

Brady previously worked in medical receivables financing from 2013 to 2018, where he was involved in securing the funding of individuals' pre-settlement claims in personal injury cases and financing of medical providers.

Las Vegas-based Praxsyn formulates non-narcotic and non-habit forming medications in the forms of transdermal creams, patches and oral capsules for pain management.