TruBridge, Inc. announced it has entered into cooperation agreements with its two largest investors, Pinetree Capital Ltd. and Ocho Investments LLC, effective February 11, 2025. As part of these agreements, Jerry Canada and Dris Upitis have been appointed to the Board of Directors as independent Class II directors. The Board has expanded from seven to nine directors, with seven now being independent.
Jerry Canada, former Group President of Harris Computer, brings extensive healthcare software and revenue cycle experience, while Dris Upitis, Head of Ocho Investments LLC, contributes financial markets and capital allocation expertise. Canada will join the Compensation Committee, and Upitis will serve on the Nominating and Corporate Governance Committee, further strengthening the board's capabilities.
In a move to enhance corporate governance and stockholder value, TruBridge will propose an amendment at the 2025 Annual Meeting to declassify the Board, aiming for all directors to stand for one-year terms by the 2026 Annual Meeting. Additionally, the company has amended its limited duration stockholder rights plan, terminating it effective as of the close of business on February 12, 2025. David Dye will not stand for re-election to the Board at the expiration of his term in 2026.
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