Definitive Healthcare Corp. (Nasdaq: DH) has announced the appointment of Clay Ritchey as the company’s Chief Executive Officer, effective September 8, 2026. Ritchey, age 55, will also serve as a member of the Board of Directors. He succeeds Kevin Coop, who stepped down from the CEO role and the Board effective August 31, 2026. Coop served as CEO since June 2024.
Ritchey joins Definitive Healthcare from Verato, where he served as CEO from April 2021 to May 2026, and most recently as Advisor to the Board since June 2026. Prior to Verato, he held senior leadership roles at multiple healthcare technology companies, including CEO of Evariant (acquired by Healthgrades), CMO of Imprivata, and CEO of Equinox Healthcare (acquired by AxelaCare Health Solutions). Earlier in his career, he held marketing and go-to-market positions at Hill-Rom and Kronos.
In connection with the appointment, Ritchey entered into an employment agreement dated August 28, 2026. He is set to receive an annual base salary of $500,000, with a target annual bonus of 87.5% of that base salary. Additionally, he is eligible for an initial annual equity award target of no less than $2,000,000 under the Company’s 2021 Equity Incentive Plan. The new hire package includes an aggregate target grant date value of $4,000,000, consisting of 65% time-based restricted stock units (subject to a four-year vesting schedule with a one-year cliff) and 35% performance-based restricted stock units (subject to a three-year performance period).
The agreement outlines severance terms in the event of termination without cause or for good reason. These include 12 months of continued base salary, acceleration of vesting for time-based equity, and payment of COBRA premiums for up to 12 months. If a termination occurs within three months before or 18 months following a Change in Control, the benefits would extend to 18 months of salary, a lump sum payment equal to 1.5 times the target annual bonus, and full acceleration of all equity awards.
Chairman Jason Krantz stated that Ritchey brings more than 25 years of healthcare expertise and a conviction that AI will reshape the industry. Ritchey expressed excitement to join the company to help accelerate its return to growth, citing the upcoming release of a new AI-powered platform.
