Longtime Healthcare Technology and Digital
Health Leader Brings Breadth of Operational Expertise to Support
Owlet’s Growth and Expansion
Owlet Baby Care Inc. (“Owlet” or “the Company”) today announced
the appointment of Zane Burke, former CEO of Livongo, to its Board
of Directors. Burke brings over 20 years of operational and
executive leadership experience in health technology. He most
recently led Livongo through its initial public offering and merger
with Teladoc Health, which valued the combined company at $18.5
billion. Burke holds a shared vision with Owlet to ensure infants
benefit from technological innovations during some of the most
crucial and vulnerable years of life.
“Zane has helped usher in some of the largest technological
advancements in healthcare from driving the adoption of electronic
health records as president of Cerner, to helping provide a new
experience for people using digital health technologies to better
manage their chronic conditions at Livongo. Zane’s expertise in the
health technology and digital health industries will be invaluable
as we work together to deliver better healthcare experiences for
parents and infants,” said Kurt Workman, CEO and co-founder of
Owlet. “Zane brings years of financial and operational expertise
that we believe will be a vital resource to the Company as we
reimagine infant health, starting at home.”
A globally recognized health tech leader, Burke was recently
named in the top 10 on the list of the Top 50 Technology CEOs by
Healthcare Technology Report. He brings extensive experience in
connected monitoring and telehealth to his Board position at Owlet.
In Zane’s two-year tenure as Livongo’s CEO, revenue grew close to
600 percent. Prior to Livongo, Burke was president of Cerner
Corporation, a global, publicly traded healthcare technology
company, where he focused on advancing healthcare technology
adoption by leading hospitals and health systems around the world.
Burke was instrumental at Cerner in securing two of the biggest
electronic health record contracts in history with the U.S.
Departments of Defense and Veterans Affairs. He is also a member of
the Board of Trustees for the College of Healthcare Information
Management Executives.
“My personal mission has always been to propel a reinvention of
our healthcare system, creating a different type of healthcare
experience that makes it as easy as possible for people to stay
healthy,” Burke said. “I was immediately attracted to Owlet’s
vision and how the compay is providing industry-leading resources
to parents. I strongly believe that new virtual care will play a
critical role in the future of pediatric care and that Owlet has
the capabilities to emerge as the leader entering this
transformative period in the industry.”
In February 2021, Owlet entered a definitive merger agreement
with Sandbridge Acquisition Corporation (NYSE: SBG) (“Sandbridge”),
a special purpose acquisition company. Upon completion of the
transaction, Ken Suslow and Domenico De Sole, members of the Board
of Directors of Sandbridge, are expected to join Burke, Lior Susan,
Laura Durr, Amy McCollough, Kurt Workman and Michael Abbott on the
Board of Directors of the post-combination company.
About Owlet
Owlet Baby Care was founded by a team of parents in 2012.
Owlet’s mission is to empower parents with the right information at
the right time, to give them more peace of mind, and help them find
more joy in the journey of parenting. Owlet’s digital parenting
platform aims to give parents real-time data and insights to help
parents feel more calm and confident. Owlet believes that every
parent deserves peace of mind and the opportunity to feel their
well-rested best. Owlet also believes that every child deserves to
live a long, happy, and healthy life, and is working to develop a
digitally-connected ecosystem and products to help facilitate that
belief.
Additional Information and Where to Find It
Sandbridge intends to file with the SEC a Registration Statement
on Form S-4, which will include a proxy statement/prospectus, that
will be both the proxy statement to be distributed to holders of
Sandbridge’s Class A common stock in connection with its
solicitation of proxies for the vote by Sandbridge’s stockholders
with respect to the business combination and other matters as may
be described in the registration statement, as well as the
prospectus relating to the offer and sale of certain securities to
be issued in the business combination. After the registration
statement is declared effective, Sandbridge will mail a definitive
proxy statement/prospectus and other relevant documents to its
stockholders. This press release does not contain all the
information that should be considered concerning the proposed
business combination and is not intended to form the basis of any
investment decision or any other decision in respect of the
proposed business combination. Sandbridge’s stockholders and other
interested persons are advised to read, when available, the
preliminary proxy statement/prospectus included in the registration
statement and the amendments thereto and the definitive proxy
statement/prospectus and other documents filed in connection with
the proposed business combination, as these materials will contain
important information about the Company, Sandbridge and the
proposed business combination. When available, the definitive proxy
statement/prospectus and other relevant materials for the proposed
business combination will be mailed to stockholders of Sandbridge
as of a record date to be established for voting on the proposed
business combination. Stockholders of Sandbridge will also be able
to obtain copies of the preliminary proxy statement, the definitive
proxy statement and other documents filed with the SEC, without
charge, once available, at the SEC’s website at www.sec.gov, or by
directing a written request to: Sandbridge Acquisition Corp., 1999
Avenue of the Stars, Suite 2088, Los Angeles, California 90067.
Participants in the Solicitation
Sandbridge and its directors and executive officers may be
deemed participants in the solicitation of proxies from
Sandbridge’s stockholders with respect to the proposed business
combination. The names of those directors and executive officers
and a description of their interests in Sandbridge is contained in
Sandbridge’s final prospectus dated September 14, 2020 relating to
its initial public offering and in subsequent filings with the SEC,
which are available free of charge at the SEC’s web site at
www.sec.gov. To the extent such holdings of Sandbridge’s securities
may have changed since that time, such changes have been or will be
reflected on Statements of Changes in Beneficial Ownership on Form
4 filed with the SEC. Additional information regarding the
interests of such participants will be contained in the proxy
statement/prospectus for the proposed business combination when
available.
Owlet and its directors and executive officers may also be
deemed to be participants in the solicitation of proxies from the
stockholders of Sandbridge in connection with the proposed business
combination. A list of the names of such directors and executive
officers and information regarding their interests in the proposed
business combination will be included in the proxy
statement/prospectus for the proposed business combination when
available.
Forward-Looking Statements
Certain statements, estimates, targets, and projections in this
press release may be considered forward-looking statements.
Forward-looking statements generally relate to future events, such
as Owlet’s strategy and anticipated growth and expansion. In some
cases, you can identify forward-looking statements by terminology
such as “may”, “should”, “expect”, “intend”, “will”, “estimate”,
“anticipate”, “believe”, “predict”, “potential” or “continue”, or
the negatives of these terms or variations of them or similar
terminology. Such forward-looking statements are subject to risks,
uncertainties, and other factors which could cause actual results
to differ materially from those expressed or implied by such
forward-looking statements.
These forward-looking statements are based upon estimates and
assumptions that, while considered reasonable by Sandbridge and its
management, and Owlet and its management, as the case may be, are
inherently uncertain. Factors that may cause actual results to
differ materially from current expectations include, but are not
limited to: the occurrence of any event, change or other
circumstances that could give rise to the termination of any
definitive agreements with respect to the proposed business
combination; the outcome of any legal proceedings that may be
instituted against Sandbridge, Owlet, the combined company or
others following the announcement of the proposed business
combination and any definitive agreements with respect thereto; the
inability to complete the proposed business combination due to the
failure to obtain approval of the stockholders of Sandbridge or to
satisfy other conditions to closing, including the satisfaction of
the minimum trust account amount following any redemptions; changes
to the proposed structure or terms of the business combination that
may be required or appropriate as a result of applicable laws or
regulations or in response to market reaction to the announcement
of the transaction; the ability to meet stock exchange listing
standards at or following the consummation of the proposed business
combination; the risk that the proposed business combination
disrupts current plans and operations of Owlet as a result of the
announcement and consummation of the proposed business combination,
and as a result of the post-transaction company being a publicly
listed issuer; the ability to recognize the anticipated benefits of
the proposed business combination, which may be affected by, among
other things, competition, the regulatory pathway for Owlet
products and responses from regulators, including the U.S. Food and
Drug Administration and similar regulators outside of the United
States, the ability of the combined company to grow and manage
growth profitably, maintain relationships with customers and
suppliers and retain Owlet’s management and key employees; costs
related to the proposed business combination, including costs
associated with the post-transaction company being a publicly
listed issuer; changes in applicable laws or regulations; the
possibility that Owlet or the combined company may be adversely
affected by other economic, business, regulatory and/or competitive
factors; Owlet’s estimates of expenses and profitability; the
evolution of the markets in which Owlet competes; the ability of
Owlet to implement its strategic initiatives and continue to
innovate its existing products; the ability of Owlet to defend its
intellectual property and satisfy regulatory requirements; the
impact of the COVID 19 pandemic on Owlet’s business; the limited
operating history of Owlet; and other risks and uncertainties set
forth in the section entitled “Risk Factors” and “Cautionary Note
Regarding Forward-Looking Statements” in Sandbridge’s final
prospectus dated September 14, 2020 relating to its initial public
offering, and other risks and uncertainties indicated from time to
time in the definitive proxy statement to be delivered to
Sandbridge’s stockholders and the related registration statement on
Form S-4, including those set forth under “Risk Factors” therein,
and other documents to be filed with the SEC by Sandbridge.
Nothing in this press release should be regarded as a
representation by any person that the forward-looking statements
set forth herein will be achieved or that any of the contemplated
results of such forward-looking statements will be achieved. You
should not place undue reliance on forward-looking statements,
which speak only as of the date they are made. Neither Sandbridge
nor Owlet undertakes any duty to update these forward-looking
statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210401005245/en/
Sandbridge Acquisition Corporation Rebecca Campbell Konnect
Agency rcampbell@konnectagency.com (213) 225-4415
Media Relations
Cammy Duong Westwicke, an ICR company cammy.duong@westwicke.com
(203) 682-8380
Jane Putnam jputnam@owletcare.com
Investor Relations Mike Cavanaugh Westwicke, an ICR company
mike.cavanaugh@westwicke.com (339) 970-2846
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