Marpai, Inc. announced the appointment of Damien Lamendola as its new Chief Executive Officer (CEO), replacing Edmundo Gonzalez, the Company's co-founder and now former CEO. Mr. Lamendola has been on Marpai's board of directors ("Board") since April 2021, and he will remain on the Board. He is also the largest beneficial shareholder of the Company.

In addition, Steve Johnson will be joining Marpai as Chief Financial Officer (CFO), joining Mr. Lamendola on the Company's management team, and replacing the Company's current CFO, Yoram Bibring. Additionally, Mike Dendy, a healthcare industry veteran with vast experience in third-party administrators, will be joining the company's Board. Mr. Lamendola is a long-time entrepreneur in the healthcare space.

He founded WellDyne, a pharmacy benefit manager, in 2002. WellDyne grew substantially until he sold it to the private equity firm, The Carlyle Group, in 2016. He is also the founder of Continental Benefits, a third-party administrator, which was sold to Marpai in 2021.

Mr. Lamendola is also the CEO of HillCour Holding Corporation, an investment firm with holdings in various healthcare companies. Mike Dendy has been a leader in the healthcare benefits space for over 30 years and has excelled at both administrative and cost containment functions. Mr. Dendy built HPS Paradigm Administrators into one of the preeminent TPA's in the country before selling it in 2004.

He then founded and built Advanced Medical Pricing Solutions (AMPS) into the leading national player in the healthcare cost containment field using medical billing review and reference-based reimbursement services to save their clients tens of millions of dollars annually. He is now CEO of CarynHealth, an extremely unique alternative benefits company that has grown exponentially in the four years since inception.