MARPAI INC. BOLSTERS SALES TEAM WITH TWO WORLD-CLASS EXECUTIVES

Rhea-AI Summary

Marpai Inc. strengthens its sales team by Antoine two industry-renowned executives, Richard Brewer as Chief Strategy Officer and Ben Utz as Vice President of Strategic Accounts, to accelerate growth and market expansion. These appointments highlight Marpai's dedication to innovation and quality healthcare solutions.

TAMPA, Fla., April 24, 2024 /PRNewswire/ -- Marpai, Inc. ("Marpai" or the "Company") (Nasdaq: MRAI), an independent national Third-Party Administration (TPA) company transforming the $22 billion TPA market supporting self-funded employer health plans with affordable, intelligent, healthcare, today announced the strategic hiring of two industry-renowned salespeople, significantly strengthening its sales force with a focus on accelerating its growth trajectory. These appointments underscore Marpai's commitment to accelerating growth and expanding its market reach.

The new additions to the Marpai team bring a wealth of experience and proven track records of success.

• Richard Brewer joins Marpai as its Chief Strategy Officer. Richard has 3 decades of experience working with brokers to help self-funded health plans take control of their medical benefit spend. Throughout his career, Richard has consistently achieved outstanding results by using innovative approaches that not only reduce plan spend but also improve the member experience.
• Ben Utz joins as Marpai's Vice President of Strategic Accounts. Ben comes to Marpai as an industry leader in the analytics and payment integrity sectors. He has specific expertise in Reference Based Pricing (RBP) and building High Performing Networks (HPN). Marpai's Centers of Excellence for both RBP and Preferred Provider Organization (PPO) plan administration, enable him to tailor solutions to meet each client's unique goals.

"We could not be more excited to welcome Ben and Richard to the Marpai team," said John Powers, President of Marpai Inc. "As we looked to grow our team, we only considered professionals that are proven winners. Ben and I have worked together for over five years and during that time, we partnered together to win several large accounts. I've known Richard for over a decade and not only admired his sales results but also the fact that he's one of the most respected professionals in our space. The addition of Ben and Richard to the Marpai team reinforces the Company's commitment to delivering innovative, cost-effective healthcare solutions while ensuring the highest quality of care for health plan members."

About Marpai, Inc.

Marpai, Inc. (Nasdaq: MRAI) is a leading, national TPA company bringing value-oriented health plan services to employers that directly pay for employee health benefits. Primarily competing in the $22 billion TPA sector serving self-funded employer health plans representing over $1 trillion in annual claims. Marpai works through its Marpai Saves initiative to deliver the healthiest member population for the health plan budget. Operating nationwide, Marpai offers access to leading provider networks including Aetna and Cigna as well as the industry's best Reference Based Pricing firms. For more information, visit www.marpaihealth.com, the content of which is not incorporated by reference into this press release.

Forward-Looking Statement Disclaimer

This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified through the use of words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "guidance," "may," "can," "could", "will", "potential", "should," "goal" and variations of these words or similar expressions. For example, the Company is using forward looking statements when it discusses that these hires reflect its focus on accelerating its growth trajectory and its commitment to accelerating growth and expanding its market reach. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect Marpai's current expectations and speak only as of the date of this release. Actual results may differ materially from Marpai's current expectations depending upon a number of factors. These factors include, among others, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business. Except as required by law, Marpai does not undertake any responsibility to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.

More detailed information about Marpai and the risk factors that may affect the realization of forward-looking statements is set forth in Marpai's filings with the Securities and Exchange Commission (the "SEC"). Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov.

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SOURCE Marpai

FAQ

Who are the new executives joining Marpai Inc.'s sales team?

Richard Brewer as Chief Strategy Officer and Ben Utz as Vice President of Strategic Accounts.

What is Richard Brewer's expertise?

Richard Brewer has 3 decades of experience working with brokers to help self-funded health plans control medical benefit spend.

What is Ben Utz's area of specialization?

Ben Utz is an industry leader in analytics and payment integrity sectors, with expertise in Reference Based Pricing (RBP) and building High Performing Networks (HPN).

What is Marpai Inc.'s focus with the new hires?

Accelerating growth trajectory and expanding market reach.

What is Marpai Inc.'s goal with the strategic hiring of two executives?

To deliver innovative, cost-effective healthcare solutions while ensuring the highest quality of care for health plan members.