MOBILE, Ala. - TruBridge, Inc. (NASDAQ: TBRG), a prominent provider of healthcare solutions with a market capitalization of $283 million, has announced the appointment of Merideth Wilson as the General Manager of its Financial Health division. The company’s stock has shown remarkable strength, delivering an 82% return over the past year according to InvestingPro data. This strategic move comes as the company seeks to strengthen its leadership team and enhance its Revenue Cycle Management (RCM) technology and services.
Wilson brings a wealth of experience to TruBridge, with a 25-year background in healthcare technology leadership, including a significant tenure at Experian (OTC:EXPGF). Her most recent role at Experian was Executive Vice President and General Manager of Employer Services, where she focused on margin growth for a newly established business unit. Previously, as Chief Operations Officer of Experian Health and Senior Vice President and General Manager of Revenue Cycle Solutions, Wilson oversaw substantial revenue responsibilities and led initiatives that delivered cost savings and expanded outsourcing capabilities.
Chris Fowler, president and CEO of TruBridge, expressed confidence in Wilson’s ability to drive growth within the Financial Health division, which is a critical component of the company, representing about 65 percent of its $338 million annual revenue and employing over 2,000 staff members. While InvestingPro data shows the company isn’t currently profitable, analysts expect a return to profitability in 2024. Fowler emphasized Wilson’s proven track record in executing global workforce strategies and her deep understanding of RCM technology solutions.
Wilson’s appointment aligns with TruBridge’s consolidation of its solution portfolio earlier this year, which aimed to provide greater autonomy and responsibility to the leaders of its primary business units. The company also highlighted the continued leadership of David Harse, General Manager of the Patient Care business unit, which includes EHR and patient engagement products.
TruBridge, with over four decades of experience, is dedicated to connecting providers, patients, and communities through technology-first solutions that support both the financial and clinical aspects of healthcare delivery. The company’s HFMA Peer Reviewed® suite of RCM offerings is designed to enhance productivity and maintain the financial health of healthcare organizations across various care settings.
This leadership enhancement is part of TruBridge’s broader strategy to meet the growing demand for innovative RCM solutions and expand its market reach into the acute and ambulatory markets, ultimately creating value for its shareholders. The stock is currently trading near its 52-week high of $20, with InvestingPro analysis revealing 8 additional key insights about the company’s financial health and market position. Subscribers can access the comprehensive Pro Research Report for deeper analysis of TBRG’s growth prospects and valuation metrics. The information in this article is based on a press release statement.
In other recent news, TruBridge Inc. reported significant company developments. The company announced the departure of its Chief Operating Officer, David A. Dye, following an established severance agreement, which includes a series of benefits such as installment payments, medical and dental coverage reimbursements, and continued vesting of his unvested restricted stock shares.
TruBridge also reported third-quarter earnings exceeding expectations, with over $20 million in bookings for the fourth consecutive quarter and revenues slightly above consensus. This led to analysts at Stephens and RBC Capital Markets raising their price targets for TruBridge to $17 and $16 respectively.
The company’s updated fiscal year 2024 guidance suggests a return to organic revenue growth and a 200 basis point year-over-year margin expansion. For fiscal year 2025, TruBridge projects mid- to high-single-digit revenue growth and a target of 20% EBITDA margins by the third or fourth quarter.
TruBridge also amended its corporate bylaws, including changes to proxy solicitation rules and definitions related to stockholder engagement. Deutsche Bank (ETR:DBKGn), however, lowered its price target from $12 to $11, with TruBridge’s revised total revenue forecast now standing at a range of $330 million to $340 million. Despite a year-over-year decline of 3.1% in the second quarter, TruBridge reaffirmed its full-year adjusted EBITDA to be within the range of $45 million to $50 million.
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