Item 5.02. Departure of Directors or Principal Officers, Election of Directors;
Appointment of Principal Officers
On May 31, 2021, Mitesco, Inc. (the "Company") accepted Mr. Ronald Riewolds
resignation from the Board of Directors of the Company. As previously announced
Mr. Riewald will continue as a strategic advisor to the Company.
On June 1, 2021, the Company appointed Ms. Shelia Schweitzer to the Board of
Directors of the Company.
Ms. Schweitzer, age 73, founded Blue Ox Healthcare Partners (
https://www.blueoxhcp.com/ ) in 2009, a private equity firm investing growth
capital in commercial-stage healthcare companies. Blue Ox has demonstrated a
long and substantial track record of accomplishments and has led over $100
million of equity investments, including nearly $40 million invested directly by
Blue Ox. Since 2012 she was CEO and Senior Advisor for PatientMatters, Inc. a
healthcare Revenue Cycle Management (RCM) solutions provider. PatientMatters
unifies disparate registration, bill estimation, and financial services with
intelligent workflows and eligibility services, improving revenue realization
for hospitals. PatientMatters was recently acquired by Firstsource Solutions
Limited (NSE: FSL, BSE:532809), a global provider of Business Process Management
(BPM) services and a RP-Sanjiv Goenka Group company (www.firstsource.com). She
was Senior Vice President from 2009 through 2011 for OptumInsight, a part of
United Healthcare Group, that provides data, analytics, research, consulting,
technology and managed services solutions to hospitals, physicians, health
plans, governments, and life sciences companies. From 2003 through 2009 she was
CEO for CareMedic Systems, an industry leader in proactive financial management
for hospitals and providers and delivers the most comprehensive suite of revenue
cycle management solutions available. She was COO for MedUnite from 2001 through
2003, a provider of electronic healthcare transaction processing services. The
company facilitates the exchange of medical claim and clinical information among
doctors, hospitals, medical laboratories, and insurance payers. She had
leadership positions in other healthcare technology companies since graduating
from Western Kentucky University.
In connection with her appointment, the Company, Ms. Schweitzer has been awarded
options (the "Options") to purchase up to one million shares of the Company's
common stock, par value $0.01 per share (the "Common Stock"), at an exercise
price equal to the closing stock price of our Common Stock on June 1, 2021,
pursuant to the Mitesco, Inc. 2021 Omnibus Securities and Incentive Plan. The
options vest monthly over twelve (12) months.
Item 7.01 Regulation FD Disclosure
On June 3, 2021, the Company issued a press release announcing the appointment
of Ms. Shelia Schweitzer to the Board of Directors.
A copy of the press release is furnished as Exhibit 99.1 to this Current Report
on Form 8-K.
The information presented in this Item 7.01 of this Current Report on Form 8-K
and Exhibit 99.1 is being furnished and shall not be deemed filed for the
purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the
"Exchange Act") or otherwise be subject to the liabilities of that section, nor
is it incorporated by reference into any filing of the Company, under the
Securities Act of 1933, as amended, or the Exchange Act, whether made before or
after the date hereof, regardless of any general incorporation language in such
filing.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. Description
99.1 Press Release, dated June 3, 2021
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