Health Catalyst Announces $40 Million Share Repurchase Program
August 04 2022 - 4:04PM
Health Catalyst, Inc. ("Health Catalyst," Nasdaq: HCAT), a leading
provider of data and analytics technology and services to
healthcare organizations, today announced that its board of
directors approved a share repurchase program with authorization to
purchase up to $40 million of its Common Stock, effective
immediately.
“This share repurchase program demonstrates our
confidence in the future of our business and our commitment to
creating long-term, sustainable value for our shareholders, our
customers and our team members,” said Dan Burton, CEO of Health
Catalyst. “We believe the current market does not reflect the
long-term value of our shares of common stock and this share
repurchase program will allow us to unlock more of the long-term
value and opportunity we see ahead.”
Repurchases under the program may be made in the
open market, in privately negotiated transactions or otherwise,
with the amount and timing of repurchases to be determined at
Health Catalyst’s discretion, depending on market conditions and
corporate needs. Open market repurchases will be structured to
occur in accordance with applicable federal securities laws,
including within the pricing and volume requirements of Rule 10b-18
under the Securities Exchange Act of 1934, as amended. Health
Catalyst may also, from time to time, enter into Rule 10b5-1 plans
to facilitate repurchases of its shares under this authorization.
This program does not obligate Health Catalyst to acquire any
particular amount of Common Stock, and may be modified, suspended
or terminated at any time at the discretion of Health Catalyst’s
board of directors.
Health Catalyst expects to fund repurchases with
existing cash and cash equivalents, working capital, cash flow from
operations or funds available through various borrowing
arrangements. As of June 30, 2022, Health Catalyst had cash, cash
equivalents, and short-term investments of approximately $403.3
million.
About Health Catalyst
Health Catalyst is a leading provider of data
and analytics technology and services to healthcare organizations
committed to being the catalyst for massive, measurable,
data-informed healthcare improvement. Its customers leverage the
cloud-based data platform—powered by data from more than 100
million patient records and encompassing trillions of facts—as well
as its analytics software and professional services expertise to
make data-informed decisions and realize measurable clinical,
financial, and operational improvements. Health Catalyst envisions
a future in which all healthcare decisions are data informed.
Available Information
Health Catalyst intends to use its Investor
Relations website as a means of disclosing
material non-public information and for complying with
its disclosure obligations under Regulation FD.
Forward-Looking Statements
This release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as
amended, and the Private Securities Litigation Reform Act of 1995,
as amended, including statements relating to Health Catalyst’s
amount, timing and sources of funding for the share repurchase
program. All statements contained in this press release that do not
relate to matters of historical fact should be considered
forward-looking statements, including without limitation statements
regarding Health Catalyst’s future performance and opportunities,
and the amount, timing and benefits of a share repurchase program.
These forward-looking statements represent Health Catalyst’s
expectations as of the date of this press release, and involve
risks, uncertainties and assumptions. The actual results may differ
materially from those anticipated in the forward-looking statements
as a result of numerous factors, many of which are beyond Health
Catalyst’s control, including changes in price and volume and the
volatility of Health Catalyst’s Common Stock, adverse developments
affecting prices and trading of exchange-traded securities,
including securities quoted on the Nasdaq Global Select Market,
unexpected or otherwise unplanned or alternative requirements with
respect to Health Catalyst’s capital investments and the risks and
uncertainties disclosed in Health Catalyst’s reports filed from
time to time with the Securities and Exchange Commission, including
Health Catalyst’s most recent Form 10‑K and any subsequent filings
on Forms 10-Q or 8-K, available at www.sec.gov. While Health
Catalyst may elect to update such forward-looking statements at
some point in the future, Health Catalyst disclaims any obligation
to do so, even if subsequent events cause Health Catalyst’s views
to change.
Health Catalyst Investor Relations
Contact:Adam BrownSenior Vice President, Investor
Relations and FP&A+1 (855)-309-6800ir@healthcatalyst.com
Health Catalyst Media
Contact:Tarah Neujahr BryanChief Brand and Communications
Officermedia@healthcatalyst.com
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