Natus Medical faces proxy battle with Voce Capital

Natus Medical (Nasdaq: BABY) is facing a proxy battle with investment firm Voce Capital which is urging shareholders to oust chairman Robert Gunst. The Pleasanton, Calif.-based company referenced a recent report from Glass Lewis & Co. regarding its most recent annual meeting, which stated that Voce “has not presented a detailed operating plan for the company, nor has it offered specific suggestions to improve the company’s financial or operating performance.” Natus agreed with the rejection of Voce’s proposal and added that it believed its shareholders should vote for its existing nominees to the board. “This is a critical moment for Natus. The company has developed from a small, single product company into a leader in three major markets – and we see a clear path to the next phase of growth and value creation. The Natus board urges shareholders to vote the white proxy card today for the election of Doris Engibous and Robert Weiss. The Natus board recommends that shareholders not vote for the removal of Chairman Robert Gunst,” Natus wrote in a press release. Voce Capital disagreed, and referenced that the Glass Lewis & Co. report recommended voting for Voce nominees Lissa Hein and Joshua Levine. The firm urged shareholders to follow its voting direction based on issues iwth as with the performance, strategy and corporate governance of Natus, according to a press release. “We are gratified that both leading proxy advisory...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Wall Street Beat Natus Medical Inc. Source Type: news