Benefytt Technologies Announces Director Departure
14 Abril 2020 - 5:30PM
Benefytt Technologies, Inc. (NASDAQ: BFYT), a health insurance
technology company and leading marketplace for Medicare-related
health insurance plans, today announced that Ellen M. Duffield has
resigned as a director of Benefytt Technologies, Inc. effective
April 9, 2020. In light of the Company’s recent shift in focus
towards the Medicare segment and Ms. Duffield’s role within a
managed care organization which serves Medicaid and Medicare
populations, Ms. Duffield determined that it was an appropriate
time for her to resign as a director of the Company in order to
avoid potential future conflicts of interest.
Gavin Southwell, President and Chief Executive Officer of
Benefytt, said, “We would like to thank Ms. Duffield for her
commitment and contributions to the Company and its board of
directors and wish her well in future endeavors. With our shift in
focus toward our Medicare segment we understand that this is now an
appropriate time for her to resign.”
In connection with Ms. Duffield’s resignation, the size of the
Company’s board of directors has been reduced to seven members,
although the board may determine to expand the number of directors
in the future.
About Benefytt Technologies, Inc.
Benefytt Technologies, Inc. (NASDAQ: BFYT) is a health insurance
technology company that primarily engages in the development and
operation of private e-commerce health insurance marketplaces,
consumer engagement platforms, agency technology systems, and
insurance policy administration platforms.
By leveraging existing and emerging platforms and technologies,
Benefytt offers a range of Medicare-related insurance plans from
many of the nation’s leading carriers as well as other types of
health insurance and supplemental products that meet the needs of
consumers. Benefytt’s direct-to-consumer site, HealthInsurance.com,
provides seniors and Medicare-eligible consumers the ability to
access powerful online comparison tools and educational resources
that enable efficient self-guided navigation of available Medicare
health insurance options.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995. Forward-looking statements are statements other than
historical fact, and may include statements relating to goals,
plans and projections regarding new markets, products, services,
growth strategies, anticipated trends in our business and
anticipated changes and developments in the United States health
insurance system and laws. Forward-looking statements are based on
Benefytt Technologies, Inc.’s (the “Company’s”) current
assumptions, expectations and beliefs are generally identifiable by
use of words “may,” “might,” “will,” “should,” “expects,” “plans,”
“anticipates,” “believes,” “estimates,” “predicts,” “potential” or
“continue,” or similar expressions and involve significant risks
and uncertainties that could cause actual results, developments and
business decisions to differ materially from those contemplated by
these statements. These risks and uncertainties include, among
other things, uncertainty regarding the duration and magnitude of
the COVID-19 pandemic, our focus on the Medicare market, our
ability to maintain relationships and develop new relationships
with health insurance carriers and distributors, our ability to
retain our members, the demand for products offered through our
platform, regulatory oversight and examinations of us and our
carriers and distributors, legal and regulatory compliance by our
carriers and distributors, the amount of commissions paid to us or
changes in health insurance plan pricing practices, competition,
changes and developments in the United States health insurance
system and laws, and the Company’s ability to adapt to them, the
ability to maintain and enhance our name recognition, difficulties
arising from acquisitions or other strategic transactions, and our
ability to build the necessary infrastructure and processes to
maintain effective controls over financial reporting. These and
other risk factors that could cause actual results to differ
materially from those expressed or implied in our forward-looking
statements will be discussed in the Company’s Annual Report on Form
10-K filed with the Securities and Exchange Commission (SEC) as
well as other documents that may be filed by the Company from time
to time with the Securities and Exchange Commission, which are
available at www.sec.gov. Any forward-looking statement made by us
in this press release is based only on information currently
available to us and speaks only as of the date on which it is made.
You should not rely on any forward-looking statement as
representing our views in the future. We undertake no obligation to
publicly update any forward-looking statement, whether written or
oral, that may be made from time to time, whether as a result of
new information, future developments or otherwise.
Contact:Benefytt Technologies, Inc.:Michael
DeVriesSenior Vice President Finance(813)
906-5314mdevries@bfyt.com
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