On February 16, 2024, Cue Health announced that it entered into a cooperation agreement with Tarsadia Investments, and appointed Rishi Reddy to its board of directors, effective immediately. Reddy is a Managing Director at Tarsadia, where he leads the firm?s venture and growth equity strategy. He was previously an Observer on Cue?s Board of Directors from April 2018 to September 2021.

In addition, the Board intends to commence a process to add an additional highly qualified, independent director to the Board. The Company Chairman and CEO Ayub Khattak said that ?The Company remains focused on creating value for all of its stakeholders, and We look forward to Reddy?s contributions as a director and to continuing our collaborative relationship.? Reddy said that ?Tarsadia is the Company?s largest shareholder, and I am joining the Board because I believe there is an opportunity to create significant value for shareholders.

I am looking forward to working with the Board and supporting the management team as they execute on initiatives to improve its cost structure and drive greater operational efficiency.? The Company added that with the appointment of Reddy, the Board will expand to eight directors.