Street Calls of the Week
Nutex Health, Inc. (NASDAQ:NUTX), a profitable healthcare company with revenues of $624 million in the last twelve months, announced the appointment of Michael L. Reed as lead independent director of its board, effective immediately, according to a statement released Thursday based on a recent SEC filing. According to InvestingPro analysis, the company maintains strong financial health with a "GREAT" overall rating.
Mr. Reed has served as a member of the company’s board since April 2022 and currently sits on the audit, compensation, and nominating and corporate governance committees. In his new role, Mr. Reed will preside over executive sessions of independent directors, facilitate communication between independent directors and the chairman and chief executive officer, and act as a liaison between the board and company management. These responsibilities are in accordance with Nutex Health’s corporate governance guidelines and Nasdaq Listing Rule 5605.
The company stated that Mr. Reed will serve as lead independent director until a successor is elected and qualified, or until his earlier death, retirement, or resignation. There are no arrangements or understandings between Mr. Reed and any other person regarding his selection for this role, and no family relationships exist between Mr. Reed and any Nutex Health director or executive officer. The company also reported that there are no transactions involving Mr. Reed that require disclosure under Item 404(a) of Regulation S-K.
For his service as lead independent director, Mr. Reed will receive additional compensation in line with Nutex Health’s director compensation program, which includes an annual retainer payable in cash and/or equity awards as determined by the board’s compensation committee.
This information is based on a statement included in a Form 8-K filed with the Securities and Exchange Commission.
In other recent news, Newtek Health reported significant growth in its Q2 2025 earnings, with total revenue reaching $244 million, marking a 220% increase from the previous year. The company also noted a substantial rise in adjusted EBITDA and cash collections, indicating strong financial performance despite increased labor and supply costs. Newtek Health’s strategic investments in hospital developments and AI initiatives have been pivotal in driving this expansion. Meanwhile, Nutex Health faces legal challenges as a securities class action lawsuit was filed against the company and certain executives in a Texas court. The lawsuit, based on a recent short seller report, alleges violations under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5. The plaintiff is seeking unspecified damages from Nutex Health, its Chairman and Chief Executive Officer, Chief Financial Officer, and President and Director. These developments highlight significant events for both companies in the healthcare sector.
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