SHCR - Sharecare to buy back $50M stock; updates on strategic review

2023-05-31 09:15:37 ET

• Sharecare ( NASDAQ: SHCR ) said Wednesday that its board has completed a strategic review process initiated in August last year and approved a $50 million stock buyback.
• The company will fund the buyback with existing cash and cash equivalents.
• "After evaluating a number of alternatives with the support of advisors, the board unanimously concluded that the best way to maximize value for shareholders at this time is to continue executing on the company’s strategic plan to drive growth and efficiencies across all three of its complementary business channels," the company said in a statement.
• As part of the review, the company said its enterprise platform will now be actively sold to new markets, including health systems, life science companies, and other healthcare stakeholders, while its provider business channel will broaden its focus to offer health insight and data solutions.
• The company said its life sciences business channel will further evolve to offer broader, more robust customer activation and management solutions.
• Sharecare said it plans to continue to look for ways to leverage its ecosystem to pursue attractive strategic opportunities in the ordinary course of business.
• Press Release .

For further details see: