UNITED STATES 
 SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
 
 
 
FORM 8-K
 
 
 
CURRENT REPORT


Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report (Date of earliest event reported) November 16, 2022
 graphic
 
 
 
Cross Country Healthcare, Inc.
(Exact name of registrant as specified in its charter)
 
 

Delaware
0-33169
13-4066229
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
 
6551 Park of Commerce Boulevard, N.W., Boca Raton, Florida 33487
(Address of Principal Executive Office) (Zip Code)

(561) 998-2232
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class Trading Symbol Name of each exchange on which registered
Common stock, par value $0.0001 per share
CCRN
The Nasdaq Stock Market LLC

 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).
Emerging growth company
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 16, 2022 the Board of Directors (the “Board”) of Cross Country Healthcare, Inc. (the “Company”) appointed Venkat Bhamidipati as a director of the Board (the “Appointment”). Mr. Bhamidipati will serve as a director until the 2023 annual meeting of stockholders or until his earlier resignation, retirement or other termination of service. The Board has determined that Mr. Bhamidipati is an independent director in accordance with the applicable rules of the Securities and Exchange Commission (the “SEC”) and the Nasdaq Stock Market. Mr. Bhamidipati will be compensated in accordance with the non-employee director compensation program of the Board, as described in the Company’s Proxy Statement filed with the SEC on April 4, 2022.

Mr. Bhamidipati, 56, was most recently Executive Vice President and the Chief Financial Officer of McAfee where he helped lead their IPO and oversaw the finance, IT, and security operations and teams that support McAfee’s business worldwide. Prior to McAfee, Venkat was an Executive Vice President and the Chief Financial Officer at Providence, a healthcare system with $25B in annual revenues, from July 2017 to September 2020. Prior to this role at Providence, Venkat spent 13 years at Microsoft from June 2004 to July 2017, where Venkat held several executive positions, including, Chief Financial Officer of the Worldwide Enterprise and Partner Group, Chief Financial Officer of the Worldwide Operations Group, and Managing Director for Business Development and Strategy. Venkat earned a Master’s degree in Commerce from Osmania University and an M.B.A in Finance and Marketing from the Kelly School of Business at Indiana University.

The Board believes that Mr. Bhamidipatis’ extensive experience as a financial executive will make him a valuable member of the Board.

Item 8.01
Other Events.

On November 21, 2022, the Company issued a press release announcing the appointment of Mr. Bhamidipati to the Board. A copy of the press release is attached to this Form 8-K as Exhibit 99.1 and is incorporated by reference herein.
  
Item 9.01
Financial Statements and Exhibits

(d) Exhibits

          
Exhibit
Description
 
 
 
 
     
  104
Cover Page Interactive Data File (embedded within the Inline XBRL document)




SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
 

 
 
CROSS COUNTRY HEALTHCARE, INC.
 
 
 
 
 
 
 
 
Dated:
November 21, 2022
By:
/s/ William J. Burns
 
 
 
 
William J. Burns
 
 
 
Executive Vice President & Chief Financial Officer

Exhibit 99.1


Cross Country Healthcare Announces New Appointment to Board of Directors

BOCA RATON, Fla.--(BUSINESS WIRE)--November 21, 2022--Cross Country Healthcare, Inc. (NASDAQ: CCRN), a market-leading, tech-enabled workforce solutions platform and advisory firm, is pleased to announce that Venkat Bhamidipati, 56, has been elected to serve as a member of the Company's Board of Directors, November 16, 2022.

A seasoned investor and strategic advisor in technology and healthcare companies, Bhamidipati brings a deep background in finance, digital strategy, corporate development, operations, and supply chain management to Cross Country.

“Venkat is a dynamic industry leader, and we are pleased to welcome him to the board," said John A. Martins, Cross Country Healthcare president and CEO. “Venkat is joining our organization at a pivotal time; his rich business leadership and financial experience will provide important insights and contributions to the continuing success of our company."

Most recently, Bhamidipati held the role of executive vice president and chief financial officer at McAfee. In this role, Venkat oversaw the finance, IT, and security operations strategy and teams that support McAfee’s business worldwide.

Before McAfee, Venkat was executive vice president and chief financial officer at Providence, a healthcare company with $25B in annual revenues. In his previous role at Providence, he led finance and most corporate functions, including information technology, growth and corporate development, supply chain, and real estate. During his time at Providence, Venkat helped lead a comprehensive process redesign and digital transformation that helped modernize it.

Chairman of the Board of Cross Country Healthcare, Kevin C. Clark, added, "The Board and I are honored that Venkat will be joining us. His experience in healthcare and technology industries and his passion for transformation will be valuable to the company."

“I’m excited to be joining this high-performing organization and having the opportunity to work with talented and best-in-class leaders,” said Bhamidipati. “I look forward to partnering with Cross Country on their next phase of the organization’s journey.”

Venkat also spent 13 years at Microsoft, where he held several executive positions, including CFO of the Worldwide Enterprise Group, CFO of the Worldwide Operations and Technology Group, and Managing Director for Business Development and Growth Strategy. During his time at Microsoft, Venkat was also instrumental in the cloud transformation playing a pivotal leadership role.

Venkat holds an MBA in Finance and Marketing from the Kelly School of Business at Indiana University.


About Cross Country Healthcare

Cross Country Healthcare, Inc. is a leading tech-enabled workforce solutions and advisory firm with 36 years of industry experience and insight. We solve complex labor-related challenges for customers while providing high-quality outcomes and exceptional patient care. As a multi-year Best of Staffing® award winner, we are committed to an exceptionally high level of service to our clients and our homecare, education, and clinical and non-clinical healthcare professionals. Our locum tenens line of business, Cross Country Locums, has been certified by the National Committee for Quality Assurance (NCQA), the leader in healthcare accreditation, since 2001. We are the first publicly traded staffing firm to obtain The Joint Commission Certification, which we still hold with a Letter of Distinction. Cross Country Healthcare is rated as the top staffing and recruiting employer for women by InHerSights, and Certified™ by Great Place to Work®. For two consecutive years, we have received the Top Workplaces USA award and the Top Workplaces Award for Diversity, Equity & Inclusion Practices, and were recently recognized as a recipient of the Top Workplaces Awards for Innovation and Leadership by Energage, and the Women Executive Leadership Elevate Award recognizing gender diversity in our Boardroom. We have a history of investing in diversity, equality, and inclusion as a key component of the organization’s overall corporate social responsibility program, closely aligned with its core values to create a better future for its people, communities, and its stockholders.

Copies of this and other news releases as well as additional information about the Company can be obtained online at ir.crosscountryhealthcare.com. Stockholders and prospective investors can also register to automatically receive the Company's press releases, filings with the Securities and Exchange Commission (SEC), and other notices by e-mail.

Contacts

Cross Country Healthcare, Inc.
William J. Burns, Executive Vice President & Chief Financial Officer
561-237-2555
wburns@crosscountry.com