CNSI Announces New Board of Directors Following Carlyle Acquisition

Rhea-AI Summary

CNSI has announced the formation of a new Board of Directors following its acquisition by Carlyle (NASDAQ: CG) in December 2021. The board includes industry experts like Donna Morea (Chair), Lawrence B. Prior III, Penny Thompson, and Tom Weston, who bring extensive experience in government technology and healthcare. CEO Todd Stottlemyer expressed optimism about leveraging this expertise to enhance CNSI's market position and accelerate key investments for state and federal healthcare clients.

Positive

• Formation of a strong Board of Directors with industry leaders.
• Strategic guidance from Carlyle's experienced executives.
• Potential for market growth and improved healthcare solutions.

Negative

• None.

Experienced Government Technology and Healthcare Leaders Join Board of Directors

MCLEAN, Va., June 13, 2022 /PRNewswire/ -- CNSI, a leading provider of innovative healthcare technology products and solutions, announced today the formation of its new Board of Directors, following the company's acquisition by investment funds affiliated with global investment firm Carlyle (NASDAQ: CG) in December 2021. The Board includes several industry leaders with extensive experience in government technology and healthcare, including: Donna Morea (Chair), Lawrence B. Prior III, Penny Thompson, and Tom Weston.

"As a Carlyle portfolio company, CNSI is very pleased to be working with the outstanding team of health and IT industry experts who have joined our new Board of Directors," said Todd Stottlemyer, CEO, CNSI. "I am excited for the journey ahead as we work together to further strengthen CNSI's market-leading products and solutions while also accelerating key investments that will help us bring even greater value and innovation for our state and federal healthcare clients."

Donna Morea serves as Board Chair; she is the former President of CGI, where her clients included many of the world's largest and most complex organizations in federal, state and local government, healthcare, and financial services. Since 2016, she has served as an Operating Executive with Carlyle, advising portfolio companies on strategic and growth initiatives. Morea also serves as a Trustee of Inova Health System, the largest healthcare system in Northern Virginia, and she is a Chair Emerita of the Northern Virginia Technology Council, which is the nation's largest technology council.

"Having worked with Todd Stottlemyer and other CNSI executive leaders throughout my career, I know the team's drive and commitment to be a trusted partner to their clients, a best place to work, and a good corporate citizen within the community," said Morea. She added, "With exceptional products, people, and processes already in place, CNSI is poised for tremendous growth, and I'm looking forward to helping them maximize their full potential."

In addition to Morea and Stottlemyer, CNSI's Board of Directors includes the following members:

• Dayne Baird – Managing Director at Carlyle, who leads the firm's efforts in the government services sector.
• Michael Echemendia – Vice President at Carlyle, with a focus on investments in the aerospace, defense, and government services sectors.
• Michael Gozycki – Managing Director at Carlyle, with a focus on a broad range of growth, middle market, and large cap technology investments.
• Lawrence B. Prior III – Carlyle Operating Executive, with a focus on government services, and the former CEO of CSRA Inc.
• Penny Thompson – Healthcare Advisor and former Chair, MACPAC Commission; former CMS Deputy Director, Center for Medicaid and CHIP Services.
• Tom Weston – Former Executive Vice President, Chief Financial Officer, ECS Federal, LLC.

Read their full bios under "About" at www.cns-inc.com.

CNSI delivers a broad range of health information technology enterprise solutions and customizable products to a diverse base of state and federal agencies in the United States. CNSI aligns, builds, and manages innovative, high-quality, cost-effective solutions that help clients achieve their mission, enhance business performance, reduce costs, and improve the health of individuals and communities. Headquartered in McLean, Virginia with a major technology center in Chennai, India, CNSI employs a world-class team of technologists, program managers, and subject matter experts with large-scale, mission-critical information technology implementation experience. Learn more at www.cns-inc.com.

Contact:
Janice Moore
Janice.Moore@cns-inc.com
703-214-3552

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SOURCE CNSI

FAQ

What is the purpose of CNSI's new Board of Directors after the Carlyle acquisition?

The new Board aims to strengthen CNSI's market-leading products and solutions, enhancing value for state and federal healthcare clients.

Who are the key members of CNSI's new Board of Directors?

The board includes Donna Morea (Chair), Lawrence B. Prior III, Penny Thompson, and Tom Weston, all with extensive experience in government technology and healthcare.

What strategic advantages does Carlyle's involvement provide to CNSI?

Carlyle's involvement brings expertise in strategic growth initiatives and enhanced operational capabilities, which can drive CNSI's business development.

When was CNSI acquired by Carlyle?

CNSI was acquired by Carlyle in December 2021.

What are the expected impacts of the new Board on CNSI's business?

The new Board is expected to provide strategic direction that supports growth initiatives and improves service delivery to clients.