Definitive Healthcare Appoints Kevin Coop as CEO for Next Phase of Company's Growth
FRAMINGHAM, Mass., May 28, 2024 (GLOBE NEWSWIRE) -- Definitive Healthcare Corp. ("Definitive Healthcare") (NASDAQ:DH), an industry leader in healthcare commercial intelligence, today announced that its Board of Directors has appointed Kevin Coop as the Company's next Chief Executive Officer and as a member of the Board of Directors, each effective June 24, 2024. Mr. Coop succeeds Jason Krantz, founder and Executive Chairman, who has been serving as Interim CEO since January 2024. Mr. Krantz will continue to serve on the Board of Directors as Executive Chairman after the CEO transition.
"Kevin is an outstanding leader. He has deep, hands-on experience with data-focused businesses and has a track record for driving growth, efficiency, and profitability that make him an excellent fit to lead the company into our next phase of growth," said Mr. Krantz. "I am personally excited to work closely with Kevin as we continue our mission to deliver world-class healthcare data, analytics, and expertise to our customers."
Mr. Coop joins Definitive Healthcare from DailyPay, Inc., a leading financial services work technology company, where he served as CEO and a member of the board of directors. Mr. Coop's 30+ year career spans numerous executive leadership roles focused on the growth of data and analytics assets. Prior to DailyPay, Mr. Coop served as President of North America at Dun & Bradstreet, where he was responsible for the profitability and growth across all product lines and businesses in North America. Prior to Dun & Bradstreet, he was President of Data Analytics at Black Knight, a technology, services, data, and analytics company for the mortgage and real estate industries. Mr. Coop also served as Group President of the financial services businesses of Verisk Analytics.
"I'm honored to take on the role of CEO at this important time in the company's growth," said Mr. Coop. "The market for healthcare commercial intelligence is estimated to be 10 billion dollars and growing, and I believe Definitive Healthcare's proprietary data and powerful platform puts the company in a unique position to capitalize on this opportunity. I look forward to working closely with our customers and the outstanding people at Definitive Healthcare to accelerate innovation, drive operational excellence and unleash the full potential of the company."
About Definitive Healthcare
At Definitive Healthcare, our passion is to transform data, analytics and expertise into healthcare commercial intelligence. We help clients uncover the right markets, opportunities and people, so they can shape tomorrow's healthcare industry. Our SaaS platform creates new paths to commercial success in the healthcare market, so companies can identify where to go next. Learn more at definitivehc.com.
Forward-Looking Statements
This press release includes forward-looking statements that reflect our current views with respect to future events and financial performance. Such statements are provided under the "safe harbor" protection of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts, and can generally be identified by words or phrases written in the future tense and/or preceded by words such as "likely," "will," "should," "may," "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects" or similar words or variations thereof, or the negative thereof, references to future periods, or by the inclusion of forecasts or projections, but these terms are not the exclusive means of identifying such statements. Examples of forward-looking statements include, but are not limited to, statements we make regarding our outlook, the executive transition, our market opportunity, our competitive position, our business, growth strategies, and statements reflecting our expectations about our ability to execute on our strategic plans, achieve future growth and achieve our financial goals.
Forward-looking statements in this press release are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the following: our inability to realize expected business or financial benefits from acquisitions and the risk that our acquisitions or investments could prove difficult to integrate, disrupt our business, dilute stockholder value and adversely affect our business, financial condition and results of operations; our inability to achieve the anticipated cost savings, operating efficiencies or other benefits of our internal restructuring activities; global geopolitical tension and difficult macroeconomic conditions; actual or potential changes in international, national, regional and local economic, business and financial conditions, including recessions, inflation, high interest rates, volatility in the capital markets and related market uncertainty; the impact of challenging macroeconomic conditions on our new and existing customers; our inability to acquire new customers and generate additional revenue from existing customers; our inability to generate sales of subscriptions to our platform or any decline in demand for our platform and the data we offer; the competitiveness of the market in which we operate and our ability to compete effectively; the failure to maintain and improve our platform, or develop new modules or insights for healthcare commercial intelligence; the inability to obtain and maintain accurate, comprehensive or reliable data, which could result in reduced demand for our platform; the risk that our recent growth rates may not be indicative of our future growth; the inability to achieve or sustain GAAP or non-GAAP profitability in the future as we increase investments in our business; the loss of our access to our data providers; the failure to respond to advances in healthcare commercial intelligence; an inability to attract new customers and expand subscriptions of current customers; our ability to successfully transition executive leadership; the risk of cyber-attacks and security vulnerabilities; litigation, investigations or other legal, governmental or regulatory actions; the possibility that our security measures are breached or unauthorized access to data is otherwise obtained; the risk that additional material weaknesses or significant deficiencies that will occur in the future; and the risks of being required to collect sales or other related taxes for subscriptions to our platform in jurisdictions where we have not historically done so. Additional factors or events that could cause our actual performance to differ from these forward-looking statements may emerge from time to time, and it is not possible for us to predict all of them. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, our actual financial condition, results of operations, future performance and business may vary in material respects from the performance projected in these forward-looking statements.
For additional discussion of factors that could impact our operational and financial results, refer to our Annual Report on Form 10-K for the year ended December 31, 2023, as well as our Current Reports on Form 8-K and other subsequent SEC filings, which are or will be available on the Investor Relations page of our website at ir.definitivehc.com and on the SEC website at www.sec.gov.
All information in this press release speaks only as of the date on which it is made. We undertake no obligation to publicly update this information, whether as a result of new information, future developments or otherwise, except as may be required by law.
Investor Contact:
Brian Denyeau
ICR for Definitive Healthcare
[email protected]
646-277-1251
Media Contact:
Bethany Swackhamer
[email protected]
