OraSure Technologies adds John Bertrand to board, settles with Altai Capital

OraSure Technologies Inc. (NASDAQ: OSUR) appointed John D. Bertrand to its board of directors as an independent director, effective immediately, the company announced.

Bertrand co-founded Digital Diagnostics Inc. and served as its chief executive officer. He previously held senior leadership positions at Epic Systems Corporation and served as a senior advisor to Bain Capital and as executive in residence at 8VC.

The diagnostic test company also announced it will seek shareholder approval at its 2026 annual meeting to declassify the board. The declassification proposal will be detailed in the company's 2026 proxy statement.

OraSure entered into a cooperation agreement with Altai Capital Management, L.P. following the appointment. Under the agreement, Altai will withdraw its director nominations for the annual meeting and members of OraSure's board and management team will meet with Altai regularly to discuss financial and strategic matters.

"We are pleased with the outcome of our engagement with OraSure and the steps the Company has taken to enhance its Board and governance practices," said Rishi Bajaj, founder and chief investment officer of Altai.

The cooperation agreement includes customary standstill, voting, and other provisions and will be filed on a Form 8-K with the U.S. Securities and Exchange Commission.

Evercore is serving as financial advisor to OraSure, while McDermott Will & Schulte LLP is serving as legal advisor to Altai.

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