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Performant Appoints Eric Yanagi to its Board of Directors

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LIVERMORE, Calif., May 07, 2020 (GLOBE NEWSWIRE) -- Performant Financial Corporation (NASDAQ:PFMT), ("the Company"), a provider of technology-enabled recovery and related analytics services, today announced that Eric Yanagi has been appointed to Performant's Board of Directors. His appointment is effective as of May 5, 2020.

"We believe Eric's long history of partnering with management teams that are focused on increasing shareholder value fits well with our long-term plans as we continue our transformation into a Healthcare Technology Leader," said Lisa Im, Chairman and CEO of Performant. "Our business transformation is a result of our investment in good contracts combined with strong operational execution. We are excited to continue that momentum into the future and believe Eric will be a valuable director on this path."

Mr. Yanagi currently serves as Managing Director of Mill Road Capital, a large Performant shareholder with a current holding of approximately 3.5 million shares (6.5% of outstanding shares). Mr. Yanagi joined Mill Road in 2008 and established the firm's San Francisco office in 2014. Mr. Yanagi currently serves on the Board of Directors of Mother's Market & Kitchen and Skullcandy. He previously served on the Board of Directors of Vision7 International (formerly known as Cossette) and R.G. Barry. Prior to joining Mill Road, Mr. Yanagi was an investment professional at Nautic Partners, a middle-market private equity firm focused on business services, healthcare, manufacturing and media & communications. Earlier in his career, he was a member of the Mergers & Acquisitions Group at Credit Suisse.

About Performant Financial Corporation

Performant helps government and commercial organizations enhance revenue and contain costs by preventing, identifying and recovering waste, improper payments and defaulted assets. Performant is a leading provider of these services in several industries, including healthcare, student loans and government. Performant has been providing recovery audit services for more than nine years to both commercial and government clients, including serving as a Recovery Auditor for the Centers for Medicare and Medicaid Services.

Powered by a proprietary analytic platform and workflow technology, Performant also provides professional services related to the recovery effort, including reporting capabilities, support services, customer care and stakeholder training programs meant to mitigate future instances of improper payments. Founded in 1976, Performant is headquartered in Livermore, California.

To learn more about Performant Financial, please visit: https://www.performantcorp.com

Contact Information:
Richard Zubek
Investor Relations
925-960-4988
investors@performantcorp.com

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