Proxy firm Institutional Shareholder Services Inc. recommended that Natus Medical Inc. shareholders back Voce Capital Management LLC's board nominees.
Voce Capital, a hedge fund manager that owns about 2.0% of Natus Medical's outstanding common shares, earlier called for the termination of Chairman Robert Gunst and nominated Lisa Wipperman Heine, Joshua Levine and Mark Gilreath to the board.
The hedge fund manager said that if shareholders vote to remove Gunst, the newly constituted board will elect his replacement, who may or may not be one of its nominees.
The proxy firm also supported Voce Capital's comments about Natus Medical's operational underperformance, strategy and corporate governance.
The Pleasanton, Calif.-based company's annual shareholders meeting is set for June 22.
Natus Medical provides newborn care and neurology healthcare products and services worldwide.
