Cue Health Announces Appointment of Rishi Reddy to Board of Directors
February 16 2024 - 5:00PM
Business Wire
Cue Health (Nasdaq: HLTH), a healthcare technology company,
today announced it entered into a cooperation agreement (the
“Cooperation Agreement”) with Tarsadia Investments (“Tarsadia”),
and appointed Rishi Reddy to its board of directors (the “Board”),
effective immediately. Mr. Reddy is a Managing Director at
Tarsadia, where he leads the firm’s venture and growth equity
strategy. He was previously an Observer on Cue’s Board of Directors
from April 2018 to September 2021. In addition, the Board intends
to commence a process to add an additional highly qualified,
independent director to the Board.
“Cue remains focused on creating value for all of its
stakeholders,” said Ayub Khattak, Chairman and CEO of Cue. “We look
forward to Rishi’s contributions as a director and to continuing
our collaborative relationship.”
“Cue’s industry-leading technology has the potential to
transform how acute and chronic conditions are diagnosed and
managed,” said Mr. Reddy. “Tarsadia is Cue’s largest shareholder,
and I am joining the Board because I believe there is an
opportunity to create significant value for shareholders. I am
looking forward to working with the Board and supporting the
management team as they execute on initiatives to improve its cost
structure and drive greater operational efficiency.”
With the appointment of Mr. Reddy, Cue’s Board will expand to
eight directors. The complete Cooperation Agreement between Cue and
Tarsadia will be included as an exhibit to a Current Report on Form
8-K, which will be filed by Cue with the Securities and Exchange
Commission.
About Rishi Reddy
Mr. Reddy is a Managing Director at Tarsadia Investments, where
he focuses on partnering with durable, transformative companies
across the healthtech and fintech ecosystems. Prior to Tarsadia,
Mr. Reddy was the founder and CEO of DigiPath Solutions, an early
innovator in the digital anatomic pathology space. After joining
Tarsadia, he helped build the venture and growth practice. Mr.
Reddy currently serves on the Boards of AvantStay, Phil, Chronus
Health, Fathom, Continental Hospitals, and Envisics, and is a board
observer at BoltTech, YieldStreet and Petal. He received a B.S. in
Management from Babson College and an M.B.A. from the University of
Pennsylvania’s Wharton School.
About Cue Health
Cue Health Inc. (Nasdaq: HLTH) is a healthcare technology
company that uses diagnostic-enabled care to empower people to live
their healthiest lives. The Cue Health platform offers individuals
and healthcare providers convenient and personalized access to
lab-quality diagnostic tests at home and at the point-of-care, as
well as on-demand telehealth consultations and treatment options
for a wide range of health and wellness needs. Cue’s customers
include federal and state public sector agencies and the private
sector, which includes healthcare providers, enterprises, and
individual consumers. Cue received De Novo authorization from the
U.S. Food and Drug Administration (FDA) for its COVID-19 test,
which became the first home use respiratory test to receive this
FDA approval. Cue also received Emergency Use Authorization from
the FDA for its molecular mpox test at the point-of-care. To
further expand its test menu, Cue has made other submissions that
are now under review by the FDA, including for the Cue® Flu +
COVID-19 Molecular Test and the Cue® RSV Molecular Test, both of
which are designed for at-home and point-of-care use. Cue, founded
in 2010, owns over 100 patents and is headquartered in San Diego.
For more information, please visit www.cuehealth.com.
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