Cue Health Announces Strategic Actions to Position Company for Next Stage

Cue Health Inc. ("Cue" or the “Company”) (Nasdaq: HLTH), a healthcare technology company, today announced strategic actions implemented by its Board of Directors (the “Board”) to best position the Company for its next stage:

• Clint Sever, co-founder and current Chief Product Officer, has been appointed CEO, effective immediately. Sever succeeds Ayub Khattak, who is stepping down as Chief Executive Officer, President, and Chairman. Khattak will remain a member of the Board of Directors.
• The Board has appointed two strategic advisors, who have specific subject matter expertise in important areas related to Cue’s business and industry, including in the commercialization of diagnostics, healthcare regulations and R&D: Dr. Paul Brown, former President and CEO of Roche Molecular Diagnostics, and Dr. Lisa Danzig, former Global Head of Medical & Scientific Affairs at Grifols (formerly Novartis Diagnostics). Brown brings extensive expertise in molecular diagnostics and experience with regulatory matters and successfully evaluating and commercializing leading genomics offerings. Danzig is an expert in vaccines and has almost two decades of experience in vaccine and diagnostics development. Both Brown and Danzig will provide their expertise and independent perspectives to the Board.
• Cue will initiate a comprehensive review of the Company’s business and operations, with a focus on assessing opportunities to refine and strengthen Cue’s overarching strategy and cost structure. This review is intended to strengthen Cue’s position for the future.

“The Board appreciates Ayub’s leadership and dedication throughout his tenure as CEO. Ayub, together with Clint, built an inspiring healthcare technology platform driven by a clear purpose to deliver best-in-class diagnostics testing and lead the forefront of innovation,” said the Cue Board of Directors. “Cue has an outstanding executive team and we are confident that Clint can seamlessly assume the CEO role, given his deep experience, expertise and familiarity with Cue. We are also pleased to have Paul and Lisa join Cue as strategic advisors, whose experience and insights will be critical to Cue’s next phase. As we look ahead, we believe it is important to implement these various actions while also reviewing our business with a focus on assessing opportunities to sharpen our strategy and reduce execution costs. The Board and leadership team will advance these efforts in order to best position Cue to enter its next stage, while creating value for shareholders.”