#United States #Salt Lake City #Health Catalyst #First Light #Matt Arens

Matt Arens Joins Health Catalyst's Board of Directors

In a significant development for Health Catalyst, Inc. (Nasdaq: HCAT), Matt Arens, CEO and founder of First Light Asset Management, has been appointed to the company's board of directors effective from December 1, 2025. Health Catalyst, known for its innovative data and analytics services for healthcare organizations, is setting the stage for enhanced strategic growth.

Matt Arens, a significant investor since Health Catalyst's IPO in 2019, holds the status of the company’s largest shareholder. Through First Light, he and his firm possess approximately 13.9 million shares, representing about 19% of the company's total outstanding shares. This profound commitment underscores First Light's belief in Health Catalyst's potential and value.

Jack Kane, independent Chair of Health Catalyst's Board, expressed his enthusiasm regarding Arens's appointment. He highlighted Arens's extensive experience in capital markets, particularly his aptitude for identifying shareholder value creation opportunities within mid-cap publicly traded healthcare firms. Dan Burton, CEO of Health Catalyst, echoed this sentiment, emphasizing that Arens's insights will be crucial as the company strives towards its mission of enhancing healthcare through measurable improvements.

Mr. Arens brings nearly three decades of experience in investment management, focusing on healthcare entities showcasing promising growth opportunities. With more than 15 years dedicated to managing healthcare portfolios, he serves as the senior portfolio manager across all strategies at First Light. Notably, his firm's healthcare strategy has been ranked the #1 U.S. small-cap growth strategy since its inception, showcasing its impressive performance in the market.

Before founding First Light in 2013, Arens was the president and senior portfolio manager at Kopp Investment Advisors. His expertise in healthcare investments further solidifies his critical role in Health Catalyst's strategic advancements. A proud graduate of Purdue University, he obtained his Bachelor of Science in financial planning, which laid the foundation for his career in finance.

In his statement upon joining Health Catalyst’s board, Mr. Arens expressed gratitude for the opportunity and a keen desire to contribute positively to the company's objectives. He emphasized First Light's belief that the market has yet to fully recognize the embedded value within Health Catalyst's operations. He pointed to the low multiple on EBITDA and a potential for high free cash flow as indicators of a significant opportunity for share appreciation.

In another notable development, Health Catalyst announced that Matthew Kolb, who has been a part of the board since 2023, will not seek re-election at the upcoming 2026 annual meeting. His contribution has been acknowledged as substantial, particularly in fostering data-driven healthcare innovations.

Overview of Health Catalyst

Health Catalyst is at the forefront of revolutionizing healthcare through technology. The firm provides advanced data and analytics tools that empower organizations to achieve clinical, operational, and financial improvements. With over 1,100 global clients, Health Catalyst leverages its robust cloud-based ecosystem, the Health Catalyst Ignite™, paired with AI-enabled analytics to unlock actionable insights across millions of patient records. The company boasts a multi-decade mission dedicated to fostering substantial healthcare advancements backed by data. Its track record of delivering significant monetary results further establishes its role as a catalyst for transformative improvements in healthcare.

These developments at Health Catalyst pave the way for innovation and growth, with Matt Arens playing a vital part in steering the company towards a promising future in the healthcare sector.