CPSI Names Wes Cronkite as New Chief Innovation Officer

Key Role to Help Company Reach Adjacent Markets Through Innovation

CPSI (NASDAQ: CPSI), a community healthcare solutions company, today announced that Wes Cronkite has been named the Company’s new Chief Innovation Officer, effective May 3, 2021. In this new senior position for CPSI, Cronkite will play a significant role in the Company’s three-year strategic plan that includes further developing and supporting a culture of innovation. Leveraging the strength of CPSI’s single solution strategy, his leadership will accelerate the push for innovation necessary to thrive in the dynamic markets served by CPSI. Key areas of focus will be on digital health growth and patient experience solutions in both the United States and international markets.

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CPSI Names Wes Cronkite Chief Innovation Officer (Photo: Business Wire)

Cronkite has over 10 years’ experience working as a senior technology leader with leading healthcare providers and technology companies. He most recently served as Senior Vice President, Innovation & Strategy for BrightSpring Health Services, the leading provider of comprehensive home and community-based health services to complex populations in need of specialized care. His career in healthcare technology included previous senior positions with nThrive, IBM and WebMD. Cronkite has a bachelor’s degree and MBA from Seton Hall University and is currently a candidate for a Master of Liberal Arts, Information Management Systems, from Harvard University.

Commenting on the announcement, Boyd Douglas, president and chief executive officer of CPSI, said, “We are delighted to welcome Wes Cronkite to our senior management team in this important new role for CPSI. Our commitment to innovation has always been a driving force behind the success of CPSI, and we are excited about our renewed focus for the next stage of our growth. To support our innovation efforts, we have also moved our corporate headquarters to downtown Mobile that will also help create a strong culture of collaboration and innovation across our family of companies. Wes will be an integral part of this transformation, and we look forward to his valuable insight and contributions as we continue to execute our growth strategy.”

Cronkite added, “I am excited to take on this new role with CPSI. I believe my previous experience in driving digital transformation in an agile manner and launching new products in the healthcare technology sector are commensurate with the Company’s strategic objectives, which will ultimately have a considerable impact on the industry at a time where technology innovation is imperative. I look forward to the opportunities ahead for CPSI and our customers.”

About CPSI

CPSI is a leading provider of healthcare solutions and services for community hospitals, their clinics and post-acute care facilities. Founded in 1979, CPSI is the parent of four companies – Evident, LLC, American HealthTech, Inc., TruBridge, LLC and iNetXperts, Corp. d/b/a Get Real Health. Our combined companies are focused on helping improve the health of the communities we serve, connecting communities for a better patient care experience, and improving the financial operations of our customers. Evident provides comprehensive EHR solutions for community hospitals and their affiliated clinics. American HealthTech is one of the nation’s largest providers of EHR solutions and services for post-acute care facilities. TruBridge focuses on providing business, consulting and managed IT services, along with its complete RCM solution, for all care settings. Get Real Health focuses on solutions aimed at improving patient engagement for individuals and healthcare providers. For more information, visit www.cpsi.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified generally by the use of forward-looking terminology and words such as “expects,” “anticipates,” “estimates,” “believes,” “predicts,” “intends,” “plans,” “potential,” “may,” “continue,” “should,” “will” and words of comparable meaning. Without limiting the generality of the preceding statement, all statements in this press release relating to the Company’s execution of its growth strategy and impact on the community hospital industry, including through innovation, are forward-looking statements. We caution investors that any such forward‑looking statements are only predictions and are not guarantees of future performance. Certain risks, uncertainties and other factors may cause actual results to differ materially from those projected in the forward‑looking statements. Such factors may include: the impact of the ongoing COVID-19 pandemic and related economic disruptions which have materially affected CPSI’s revenue and could materially affect CPSI’s gross margin and income, as well as CPSI’s financial position and/or liquidity; actions taken by CPSI in response to the pandemic; the legal, regulatory and administrative developments that occur at the federal, state and local levels; changes in revenues due to declining community hospital demand and deteriorating macroeconomic conditions (including increases in uninsured and underinsured patients); CPSI’s potential inability to attract and retain qualified client service and support personnel, as well as the disruptive effect of sales force restructurings; exposure to numerous laws, regulations and other requirements through CPSI’s international business activities; potential failure to develop or enhance products in response to market demands, as well as undetected errors or problems in new products or enhancements; potential disruptions, breaches, or other incidents affecting the proper operation, availability, or security of CPSI’s or its partners’ information systems, including unauthorized access to or theft of patient, business associate, or other sensitive information or inability to provide patient care because of system unavailability; dependence on licenses of rights, products and services from third parties; service interruptions resulting from loss of power and/or telecommunications capabilities; potential increased expenses related to labor or other expenditures; the impact of our substantial indebtedness and the ability to refinance such indebtedness on acceptable terms or at all, as well as risks associated with disruptions in the financial markets and the business of financial institutions as the result of the COVID-19 pandemic which could impact us from a financial perspective; and other risk factors described from time to time in our public releases and reports filed with the Securities and Exchange Commission, including, but not limited to, our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. We also caution investors that the forward-looking information described herein represents our outlook only as of this date, and we undertake no obligation to update or revise any forward-looking statements to reflect events or developments after the date of this press release.

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