Health In Tech appoints Sanjay Shrestha to board

STUART, Fla. - Health In Tech (NASDAQ:HIT), a company specializing in insurance technology with a market capitalization of $34 million, announced today that Sanjay Shrestha has joined its Board of Directors. Shrestha, who is currently the President of Plug Power, will contribute his expertise in technology and energy to the Health In Tech Board, serving on the Audit, Compensation, and Nominating and Corporate Governance Committees. According to InvestingPro data, the company maintains strong financial health with a current ratio of 5.06, indicating robust liquidity.

Tim Johnson, Chairman & CEO of Health In Tech, expressed confidence in Shrestha's ability to aid the company's mission to streamline the U.S. healthcare system with his extensive experience in growth strategies and emerging technologies.

Shrestha brings a notable track record to Health In Tech, including his instrumental role in expanding Plug Power's green hydrogen economy initiatives and his previous success in renewables research at Lazard Capital Markets. Recognized for his analytical prowess in the financial sector, Shrestha was named among the top global stock pickers by Institutional Investor and Forbes Magazine.

The appointment is part of Health In Tech's broader strategy to enhance their platform, which leverages AI technology to simplify and automate processes in the healthcare industry. The company's platform is designed to reduce complexities in insurance underwriting, sales, and service for insurers, brokers, and third-party administrators.

While the company's statement includes forward-looking sentiments about Health In Tech's growth and potential market opportunities, these projections are based on current estimates and are subject to the usual risks and uncertainties inherent in such predictions.

This announcement is based on a press release statement and reflects the company's current strategic direction and governance enhancements. Health In Tech continues to focus on improving the healthcare insurance marketplace with digital innovation and vertical integration.

In other recent news, Health In Tech, Inc. has announced significant changes to its corporate governance structure, following a board approval. The company has expanded its board of directors, increasing the number of authorized directorships from seven to eleven. This adjustment is part of a broader strategy to enhance governance and adapt to the evolving demands of the insurance industry. Additionally, the bylaws have been revised to modify the terms of directors, now allowing initial three-year terms for the first two directors with subsequent one-year terms, while all other directors will serve one-year terms. These changes are detailed in the Third Amended and Restated Bylaws, which have been filed with the Securities and Exchange Commission. Investors and stakeholders have access to the complete text of the amended bylaws through the SEC filing. The restructuring reflects Health In Tech's commitment to strengthening its leadership framework and strategic objectives. These recent developments are part of the company's ongoing efforts to ensure sustainable long-term growth.

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