CHF Solutions Appoints Nestor Jaramillo, Jr. as President and Chief Executive Officer
January 19 2021 - 8:00AM
CHF Solutions (Nasdaq: CHFS), a medical device company dedicated to
changing the lives of patients suffering from fluid overload, today
announced the appointment of President and Chief Operating Officer
Nestor Jaramillo, Jr. to President and Chief Executive Officer
(CEO), effective immediately. Predecessor CEO John Erb will
continue to serve as the company’s Chairman of the Board.
Mr. Jaramillo joined CHF Solutions in May 2019 and has driven
the evolution of the company’s therapeutic focus strategy from
solely heart failure to an expansion into critical care and
pediatrics. His vision to transform the trajectory of cardiorenal
disease has led to an expansion in use of Aquadex ultrafiltration
therapy, largely made possible through his recruitment of a highly
talented commercial team.
“Nestor’s leadership has had a strong impact on the company’s
commercial and operational success,” said John Erb, Chairman of CHF
Solutions. “With his purpose-driven guidance, more patients have
had access to the benefits of ultrafiltration. Nestor’s shift in
strategy delivered consistent quarter over quarter growth in U.S.
revenue and helped expand our international presence. I’m thrilled
to see the company’s footprint and success continue to widen under
Nestor’s direction.”
“When I joined CHF Solutions I was intrigued and impressed with
the caliber and commitment of our team,” said Nestor Jaramillo,
Jr., President and CEO of CHF Solutions. “Each team member is
driven with purpose and there is a focused determination to improve
the lives of patients who can benefit from our therapy. As we begin
a new year together, I’m honored to lead our team to expand
solutions for cardiorenal disease.”
Prior to joining CHF Solutions, Mr. Jaramillo was President and
Chief Executive Officer of Innerspace Neuro Solutions, Inc., a
commercial-stage medical technology company that developed,
manufactured, and distributed an intracranial pressure monitoring
system. He also worked in a variety of capacities at startup
Transoma Medical, as well as Medtronic and St. Jude Medical (now
Abbott). In addition to his medical device experience, Mr.
Jaramillo spent seven years as a managing director in healthcare
investment banking at both Cherry Tree & Associates and
Craig-Hallum Capital in Minneapolis. He holds an electrical
engineering degree from the University of North Dakota and a Master
of Business Administration from the University of St. Thomas in
Minnesota.
About CHF Solutions CHF
Solutions, Inc. (Nasdaq: CHFS) is a medical device company
dedicated to improving the lives of patients suffering from fluid
overload with its novel ultrafiltration therapy system. The company
is focused on developing, manufacturing and commercializing the
Aquadex SmartFlow system for ultrafiltration therapy. CHF Solutions
is headquartered in Minneapolis, Minn., with wholly-owned
subsidiaries in Australia and Ireland. The company has been listed
on the Nasdaq Capital Market since February 2012.
About the Aquadex SmartFlow System The Aquadex
SmartFlow system delivers clinically proven therapy using a simple,
flexible and smart method of removing excess fluid from patients
suffering from hypervolemia (fluid overload). The Aquadex SmartFlow
system is indicated for temporary (up to 8 hours) or extended
(longer than 8 hours in patients who require hospitalization) use
in adult and pediatric patients weighing 20 kg or more whose fluid
overload is unresponsive to medical management, including
diuretics. All treatments must be administered by a health care
provider, within an outpatient or inpatient clinical setting, under
physician prescription, both having received training in
extracorporeal therapies.
Forward-Looking Statements Certain statements
in this release may be considered forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including without limitation, statements regarding the future
growth of the company. Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. Many factors could cause actual
future events to differ materially from the forward-looking
statements in this release, including, without limitation, those
risk associated with our ability to execute on our commercial
strategy, the possibility that we may be unable to raise sufficient
funds necessary for our anticipated operations, our post-market
clinical data collection activities, benefits of our products to
patients, our expectations with respect to product development and
commercialization efforts, our ability to increase market and
physician acceptance of our products, potentially competitive
product offerings, intellectual property protection, our ability to
integrate acquired businesses, our expectations regarding
anticipated synergies with and benefits from acquired businesses,
and other risks and uncertainties described in our filings with the
SEC. Forward-looking statements speak only as of the date when
made. CHF Solutions does not assume any obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
CONTACTS
INVESTORS:Claudia Napal Drayton Chief Financial
Officer, CHF Solutions, Inc. 952-345-4205ir@chf-solutions.com
Matt Bacso, CFAGilmartin Group LLCMatt.bacso@gilmartinir.com
MEDIA:Jessica
StebingHealth+Commerce260-336-6202jstebing@healthandcommerce.com
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