Teligent, Inc. (Nasdaq: TLGT), a New Jersey-based specialty generic pharmaceutical company, today announced it has appointed Carter Pate to its Board of Directors, effective immediately. Mr. Pate will serve on the Audit and Nominating and Corporate Governance Committees.
Mr. Pate leads a family-owned investment firm and serves on the Board of Directors at multiple companies, including Global Step and Advanced Emissions Solutions, Inc. He excels at leading companies through moments of change to drive business objectives and redefine their possibilities for growth.
John Celentano, Chairman of Teligent's Board of Directors, commented on the appointment, stating, "We are excited to have Carter join Teligent's Board. Carter's years of experience have given him an abundance of knowledge of various industries, and he has proven that he can help shepherd businesses through significant business transitions to reach their full potential. We know Carter will be a great addition, and we look forward to collaborating with him as Teligent continues on its strategic and financial efforts to strengthen its balance sheet and reinvigorate its business."
Mr. Pate is the founder and Chief Executive Officer of Carter Pate, LLC, a Family Private Equity Investment Company, and has served as a Board Member to public and private Boards of Directors since 2014. He is the former Chief Executive Officer of Providence Service Corp DBA LogistiCare, the largest non-emergency medical logistics company for Medicare and Medicaid. Mr. Pate currently serves on the Board of Optioncare Health and was the Chairman of the Board of its predecessor, BioScrip Inc. Mr. Pate was elected Chairman of the Board of the Red Lion Hotel Group in December 2019, and also serves as a member of the Board for Advanced Emissions Solutions.
Prior to these roles, Mr. Pate had a career with PricewaterhouseCoopers spanning nearly two decades, including his service as a Global/United States Managing Partner of U.S. Advisory and later the Health Care practice leader. In these roles he worked with Fortune 500 companies and G-20 governments with a focus on change management and cost realignment. For his first seven years at PwC, Mr. Pate led PwC's restructuring practice. He is the author of best-selling financial restructuring book, "The Phoenix Effect: Nine Revitalizing Strategies No Business Can Do Without."
Mr. Pate said, "I am excited to be to joining Teligent's Board of Directors, it is truly an honor. Currently, Teligent is going through a financial transformation, and I am confident I will be able to provide a diverse mindset with years of prior industry experience to guide them into the future. Teligent is at a position to be an industry leader, and I am ready to work with management and their established Board of industry veterans to position them for success."
Mr. Pate holds certifications as a Certified Public Accountant and Certified Forensic Public Accountant. He obtained his undergraduate degree in Accounting and a master's degree in Accounting and Information Systems from University of Texas at Dallas.
Nasdaq Bid Price Rule Compliance Update
Teligent received notice from Nasdaq that the Company has regained compliance with the minimum $1.00 bid price requirement for continued listing set forth in Nasdaq Listing Rule 5450(a)(1) (the "Bid Price Rule") and this matter is now closed. Teligent has now regained compliance with all requirements previously noted by Nasdaq. For additional information, please see the Company's January 22, 2021 press release, available here: http://investors.teligent.com/news-releases/news-release-details/teligent-regains-compliance-nasdaq-filing-requirements-and.
About Teligent, Inc.
Teligent is a specialty generic pharmaceutical company. Our mission is to be a leading player in the specialty generic prescription drug market. Learn more on our website www.teligent.com.