Clover Health Investments, Corp. (NASDAQ: CLOV) (“Clover,” “Clover
Health” or the “Company”), a physician enablement technology
company, today announced the appointment of Peter Kuipers as Chief
Financial Officer (“CFO”), effective as of the day after the filing
of the Company’s Quarterly Report on Form 10-Q for the
quarter-ended March 31, 2024. With a wealth of experience and a
proven track record in financial management, Mr. Kuipers will drive
strategic financial initiatives around profitability, growth and
potential new revenue streams.
Recognized with the 2018 San Francisco Bay Area Public Company
CFO of the Year Award for small to medium-sized companies, Mr.
Kuipers brings over 25 years of technology leadership experience to
the CFO role at Clover. As the former Executive Vice President and
CFO at Omnicell, Inc., a healthcare technology company (NASDAQ:
OMCL), Mr. Kuipers provided financial leadership and strategic
vision, contributing to the company's growth from $485 million to
$1.3 billion in revenue. Beyond the CFO function, Mr. Kuipers
oversaw various other critical functions, including global supply
chain & manufacturing, information technology, international
business, corporate development, and M&A, playing a pivotal
role in transforming Omnicell into a cloud-based platform and
SaaS/Tech-Enabled Services market leader.
Prior to his role at Omnicell, Mr. Kuipers served as the CFO at
Quantcast and The Weather Company, where he provided financial
leadership driving profitable revenue growth through capital
allocation, digital platform development, and global expansion. His
extensive background also includes divisional CFO and executive
FP&A leadership roles at Yahoo!, Altera Corporation (acquired
by Intel), General Electric Company, and Akzo Nobel, where he
implemented financial management strategies and operating rigor to
drive business execution at scale.
Mr. Kuipers started his career with nearly a decade at Ernst
& Young where he focused on financial audits, IPO services, and
M&A due diligence for multinational companies. He received a
Master’s Degree in Economics and Business Administration from the
Maastricht University School of Business and Economics, and is a
Chartered Accountant in the Netherlands.
"We are thrilled to welcome Peter to Clover as our new Chief
Financial Officer," said Andrew Toy, Chief Executive Officer,
Clover Health. "His extensive experience as a public company Chief
Financial Officer and strong leadership skills make him the perfect
fit to lead our finance team as we look to achieve Adjusted EBITDA
profitability for 2024, and then embark on our next phase of
growth."
In his role as CFO, Kuipers will be responsible for overseeing
all financial aspects of the Company, including budgeting,
forecasting, financial reporting, and capital management. He will
play a pivotal role in driving financial performance and
implementing strategies to optimize operational efficiency.
“I am honored to join Clover at such an exciting time in its
journey,” said Peter Kuipers. “I have always believed in the
ability of technology to fundamentally transform an industry and
Clover has shown that with its platform, it has a unique approach
that can power profitability and growth in a differentiated way.
I’m thrilled to be part of the team that will be focused on
bringing that capability to care for as many people as
possible.”
About Clover Health:Clover Health (Nasdaq:
CLOV) is a physician enablement technology company committed to
bringing access to great healthcare to everyone on Medicare. This
includes a health equity-based focus on seniors who have
historically lacked access to affordable, high-quality healthcare.
Our strategy is powered by our software platform, Clover Assistant,
which is designed to aggregate patient data from across the
healthcare ecosystem to support clinical decision-making and
improve health outcomes through the early identification and
management of chronic disease.
Forward-Looking Statements
Please note that this press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements include statements regarding future events and Clover
Health’s future results of operations, financial position, business
strategy and future plans. Forward-looking statements are not
guarantees of future performance, and you are cautioned not to
place undue reliance on such statements. In some cases, you can
identify forward looking statements because they contain words such
as “may,” “will,” “should,” “expects,” “plans,” “anticipates,”
“going to,” “can,” “could,” “should,” “would,” “intends,” “target,”
“projects,” “contemplates,” “believes,” “estimates,” “predicts,”
“potential,” “outlook,” “forecast,” “guidance,” “objective,”
“plan,” “seek,” “grow,” “target,” “if,” “continue” or the negative
of these words or other similar terms or expressions that concern
Clover Health’s expectations, strategy, priorities, plans or
intentions. Forward-looking statements in this press release
include, but are not limited to, statements regarding expectations
related to Clover Health’s profitability, liquidity, future
performance, future operations and future results. These statements
are subject to known and unknown risks, uncertainties and other
factors that may cause Clover Health’s actual results, levels of
activity, performance or achievements to differ materially from
results expressed or implied in this press release. Additional
information concerning these and other risk factors is contained in
Clover Health’s most recent Annual Report on Form 10-K, filed with
the Securities and Exchange Commission (the “SEC”) on March 14,
2024, and in our subsequent filings with the SEC, in each case
where relevant, including the Risk Factors sections therein, and in
its other filings with the SEC. The forward-looking statements
included in this press release are made as of the date hereof.
Except as required by law, Clover Health undertakes no obligation
to update any of these forward-looking statements after the date of
this press release or to conform these statements to actual results
or revised expectations.
Press Contact:Andrew
Still-Baxterpress@cloverhealth.com
Investor Relations Contact:Ryan
Schmidtinvestors@cloverhealth.com
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