MOBILE, Ala. - TruBridge, Inc. (NASDAQ:TBRG), a healthcare solutions provider, today introduced Amy O'Keefe as its latest addition to the company's Board of Directors. O'Keefe's election to the board took effect last Thursday, October 18, 2024.
Currently the Chief Financial Officer at Avaya, a role she has held since 2023, O'Keefe brings with her a wealth of experience, including a significant financial and operational turnaround at the communications solutions firm. Her previous positions include CFO of WW International, Inc. (NASDAQ: NASDAQ:WW) and executive roles at Drive DeVilbiss Healthcare and Stanley Black & Decker, Inc. (NYSE: SWK), as well as public accounting experience at Ernst & Young.
Chris Fowler, CEO of TruBridge, stated that O'Keefe's extensive financial expertise and leadership in public companies will be vital to TruBridge's growth strategy and shareholder value. Glenn Tobin, Independent Chair of the TruBridge Board, also expressed confidence that O'Keefe's business transformation expertise will provide valuable insights and complement the board's existing capabilities.
O'Keefe is set to replace Denise Warren, who will be stepping down to become Chairperson for Brookdale (NYSE:BKD) Senior Living (NYSE: BKD), effective November 15, 2024. Warren has been a member of the TruBridge Board since 2017, and the company has expressed gratitude for her strategic contributions and guidance.
TruBridge is known for its comprehensive suite of revenue cycle management solutions and its commitment to connecting providers, patients, and communities with technology-driven healthcare solutions. The company's services are aimed at improving patient outcomes, satisfaction, and supporting the financial health of healthcare organizations.
This board appointment is based on a press release statement from TruBridge, Inc.
In other recent news, WW International, also known as WeightWatchers, announced a series of significant developments. The company unveiled its compounded semaglutide offering, a move designed to address the high demand for compounded GLP-1s and extend the company’s cash runway. Despite the potential for near-term growth, Barclays reiterated an Underweight rating on WW International shares due to concerns over the long-term viability of the compounding business model.
The company also underwent leadership changes with Tara Comonte stepping in as interim CEO following the departure of Sima Sistani. Additionally, Scott Honken and Phillip Picardi were appointed as Chief Commercial Officer and Chief Impact Officer, respectively.
In financial news, WW International reported a 6% decrease in subscribers year-over-year, and a decrease in revenue for the second quarter of 2024. Despite these challenges, the company reaffirmed its full-year 2024 forecast for both revenue and adjusted operating income. These developments underscore WW International's continued efforts to navigate a complex market environment and deliver on profitability targets.
InvestingPro Insights
While the article focuses on TruBridge's recent board appointment, it's worth noting Amy O'Keefe's previous role as CFO at WW International, Inc. (NASDAQ: WW). InvestingPro data provides some interesting insights into WW's current financial situation, which may shed light on the challenges O'Keefe faced and the experience she brings to TruBridge.
WW International has been facing some financial headwinds recently. The company's revenue for the last twelve months as of Q2 2023 was $829.45 million, with a revenue growth decline of 11.89% over the same period. This aligns with an InvestingPro Tip indicating that analysts anticipate a sales decline in the current year.
Despite these challenges, WW maintains impressive gross profit margins of 65.82% for the last twelve months as of Q2 2023. This strength is highlighted by an InvestingPro Tip, suggesting that the company has been able to maintain pricing power or control costs effectively, skills that O'Keefe likely honed during her tenure.
However, WW's stock performance has been volatile, with the price falling significantly over the last year. The 1-year price total return as of the most recent data shows a decline of 86.73%. This volatility is reflected in another InvestingPro Tip, which notes that the stock generally trades with high price volatility.
These insights from InvestingPro provide context to the financial landscape O'Keefe navigated at WW, potentially informing her approach to financial strategy at TruBridge. For investors interested in a deeper dive into WW's financials or TruBridge's prospects, InvestingPro offers 14 additional tips for WW, providing a more comprehensive analysis of the company's financial health and market position.
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