Keith G. Myers
About Keith G. Myers
Keith G. Myers, age 65, joined Sanara MedTech’s Board on October 4, 2024, filling the vacancy from James W. Stuckert’s resignation. He co-founded LHC Group and served as Chairman and CEO from 1994 until its 2023 merger with Optum; he is also current chairman of the Partnership for Quality Home Healthcare and serves on technical expert panels advising CMS. Notable recognition includes Regional Entrepreneur of the Year (2003) and induction into the National Home Care & Hospice Hall of Fame (2015), underscoring deep healthcare operations and policy expertise .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| LHC Group | Co‑founder; Chairman & CEO | 1994–2023 | Led growth and industry consolidation; extensive M&A execution |
| Partnership for Quality Home Healthcare | Co‑founder; Chairman | Ongoing | Industry advocacy; Washington D.C. policy engagement |
| Alliance for Home Health Quality and Innovation | Co‑founder; Former Board Member | Prior service | Sector innovation and quality initiatives |
External Roles
| Organization | Type | Role | Dates |
|---|---|---|---|
| Louisville Healthcare Council | Non‑profit/industry | Board Member | Current |
| Partnership for Quality Home Healthcare | Industry advocacy | Chairman | Current |
| Alliance for Home Health Quality and Innovation | Industry advocacy | Co‑founder; Former Board Member | Prior service |
| CMS Technical Expert Panels | Government advisory | Panel Member | Various, advisory to CMS |
Board Governance
- Independence: The Board determined Myers is independent under Nasdaq rules .
- Tenure: Appointed October 4, 2024; standing for election among eight nominees for one‑year term .
- Committee Assignments: Member, Corporate Development Committee; no chair roles .
- Attendance: In 2024, each director attended at least 75% of Board and applicable committee meetings; Corporate Development met 4 times .
- Lead Independent Director: Company does not have a lead independent director .
- Board Leadership: CEO also serves as Executive Chairman (combined roles) .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Cash retainer | $0 | Non‑employee directors were paid in restricted stock; Fees earned or paid in cash column shows “-” for 2024 . |
| Committee chair fees (cash) | $0 | Myers held no chair positions and director retainers are equity‑settled . |
| Meeting fees | Not disclosed | No meeting fees described in policy; annual retainers set in equity . |
Performance Compensation
| Grant Type | Grant Date | Shares | Intended Value | Vesting | Notes |
|---|---|---|---|---|---|
| Restricted Stock (Director Retainer) | Nov 11, 2024 | 1,975 | $69,125 | May 22, 2025 | Equity retainer for service from Oct 4, 2024 to Annual Meeting; intended full‑term value $95,000, prorated for 2024 service . |
- Director compensation framework (equity paid): Annual director retainer $90,000; corporate development committee member retainer $5,000; committee chair add‑ons (audit $20,000; compensation $10,000; nom/gov $10,000; corporate development $10,000). Awards are delivered as restricted stock based on 20‑day average closing price; expenses reimbursed. Executive Chairman equity compensation removed in Nov 2024 update due to CEO appointment .
- No options, PSUs, or performance metrics disclosed for director pay; awards are time‑based restricted stock .
Other Directorships & Interlocks
| Company/Entity | Public/Private | Role | Potential Interlock/Conflict with SMTI |
|---|---|---|---|
| LHC Group (now part of Optum) | Former public; now private within Optum | Former Chairman & CEO | No SMTI‑disclosed related transactions with LHC/Optum; none identified in related‑party section –. |
| Louisville Healthcare Council | Non‑profit | Board Member | None disclosed . |
| Partnership for Quality Home Healthcare | Advocacy | Chairman | None disclosed . |
Expertise & Qualifications
- 30+ years healthcare leadership; founder‑operator with significant M&A and capital markets experience; led a public company through sustained growth and strategic sale .
- Policy influence via CMS technical panels and DC advocacy roles, enhancing regulatory navigation expertise .
- Recognized industry achievements (Entrepreneur of the Year; Home Care & Hospice Hall of Fame) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Vested vs. Unvested | Notes |
|---|---|---|---|---|
| Keith G. Myers | 1,975 | <1% | Unvested restricted stock: 1,975 (vest May 22, 2025) | Based on 8,887,984 shares outstanding as of April 11, 2025 . |
- Hedging/Pledging: Insider trading policy prohibits hedging and pledging without advance approval; no pledging disclosed for Myers .
- Ownership Guidelines: No director stock ownership guidelines disclosed in the proxy .
Governance Assessment
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Strengths:
- Independent director with deep healthcare operations and policy experience; enhances Board’s industry and regulatory oversight .
- Equity‑only director compensation increases alignment; time‑based restricted stock with defined vesting .
- Committee engagement on Corporate Development aligns with Myers’ M&A background; formal meetings held (4 in 2024) .
-
Watch Items / RED FLAGS:
- No lead independent director; combined CEO/Executive Chairman roles may diminish independent oversight and board counterbalance .
- Significant related‑party ecosystem (Catalyst; CGI Cellerate RX; Rochal) involving CEO and another director; while audit committee reviews these, investor perception of conflicts can weigh on governance quality. Notably, Catalyst advisory fees approved and paid ($288,594 in 2024), and Rochal licensing/consulting arrangements including $177,697 consulting fee to director Ann Beal Salamone .
- Limited “skin‑in‑the‑game” for Myers as of year‑end (unvested 1,975 shares; <1% ownership), though ongoing equity retainers could increase alignment over time .
-
Related‑party exposure for Myers: No transactions involving Myers are described in the related‑party section covering 2023–2025 –.
Overall, Myers brings valuable healthcare and M&A expertise and is independent, but broader board structure (no lead independent director; CEO dual role) and related‑party dynamics elsewhere on the Board present governance risks investors should monitor, particularly around transaction oversight and committee independence – .