Hyperfine, Inc. (Nasdaq: HYPR), (“Hyperfine” or “the Company”), the
groundbreaking medical device company that created Swoop®, the
world's first FDA-cleared portable MRI system™, today announced
that it has named medical device industry veteran Maria Sainz as
President and Chief Executive Officer (CEO) of Hyperfine, effective
October 24, 2022. Scott Huennekens, who currently serves as interim
President and CEO, will stay on as Executive Chairperson of the
Board.
Ms. Sainz has held President and CEO positions at multiple
medical device companies in her industry tenure, including AEGEA
Medical, acquired by CooperSurgical in 2021, Cardiokinetix, and
Concentric Medical, acquired by Stryker in 2011. She brings over 30
years of experience in the medical device industry and has served
as a valuable member of Hyperfine’s Board of Directors since the
company’s Nasdaq listing, including on both the Audit Committee and
Nominating and Corporate Governance Committee. As President and CEO
of Hyperfine, Ms. Sainz will lead the commercial expansion of
Hyperfine’s Swoop portable MRI system™ to execute the company’s
mission of lowering barriers to medical imaging around the
world.
“I am excited and honored to lead the next phase of Hyperfine’s
growth as we broaden the adoption of Swoop technology, improving
access to MR imaging around the world,” said Ms. Sainz. “With over
90 systems installed globally and our growing value proposition in
the ICU and neurocritical care settings, we have established a
strong foundation to drive forward commercial momentum. I am eager
to join the Hyperfine team as we expand to additional hospitals and
continue increasing our clinical applications to improve patient
care in mature and emerging healthcare systems.”
“We are very pleased to name Ms. Sainz President and CEO of
Hyperfine. She carries a successful track record of execution and
shareholder value creation across medical device businesses, and
her decades of experience are immensely valuable,” said Scott
Huennekens, Executive Chairperson of the Hyperfine Board of
Directors. “I am confident in her ability to manage the business
with a disciplined approach to spending while leading Hyperfine
into its next phase of growth by expanding the Swoop commercial
footprint to new sites of care.”
“Ms. Sainz has the experience, judgement, and speed needed to
ensure that Hyperfine continues to define and own the field of
portable MRI. Since inception, Hyperfine has been a technical and
AI powerhouse, and now Hyperfine needs to be a commercial force.
Ms. Sainz brings the experience, intelligence, and capability to
the table to execute that plan,” said Dr. Jonathan Rothberg,
Hyperfine’s Founder and Vice Chairman.
About Hyperfine
Hyperfine, Inc. is the groundbreaking medical device company
that created Swoop®, the world’s first FDA-cleared portable MRI
system™. Hyperfine designed Swoop to enable rapid diagnoses and
treatment for every patient regardless of income, resources, or
location, pushing the boundaries of conventional imaging technology
and expanding patient access to life-saving care. The Swoop
Portable MR Imaging System™ produces high-quality images at a lower
magnetic field strength, allowing clinicians to quickly scan,
diagnose, and treat patients in various clinical settings. Swoop
can be wheeled directly to the patient’s bedside, plugged into a
standard electrical wall outlet, and controlled by an iPad®.
Designed as a complementary system to conventional MRIs at a
fraction of the cost, Swoop captures images in minutes, providing
critical decision-making capabilities in emergency departments,
operating rooms outside the sterile field, and intensive care
units, among others. Hyperfine was founded in 2014 by Jonathan
Rothberg, Ph.D., a serial entrepreneur and the founder or
co-founder of numerous other innovative companies, including
CuraGen, 454 Life Sciences, Ion Torrent, RainDance Technologies,
ClariFI, Quantum-Si, AI Therapeutics, Butterfly Network,
4Catalyzer, and 4Bionics. In 2015, Rothberg was awarded the
National Medal of Technology and Innovation by President Obama for
inventing and commercializing DNA sequencing. For more information
visit www.hyperfine.io.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. Hyperfine’s actual
results may differ from its expectations, estimates and projections
and consequently, you should not rely on these forward-looking
statements as predictions of future events. Words such as “expect,”
“estimate,” “project,” “budget,” “forecast,” “anticipate,”
“intend,” “plan,” “may,” “will,” “could,” “should,” “believes,”
“predicts,” “potential,” “continue,” and similar expressions (or
the negative versions of such words or expressions) are intended to
identify such forward-looking statements. These forward-looking
statements include, without limitation, expectations about
Hyperfine’s financial and operating results, the benefits of
Hyperfine’s products and services, and Hyperfine’s future
performance and its ability to implement its strategy. These
forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results. Most of these factors are
outside of Hyperfine’s control and are difficult to predict.
Factors that may cause such differences include, but are not
limited to: the success, cost and timing of Hyperfine product
development and commercialization activities, including the degree
that Swoop is accepted and used by healthcare professionals; the
impact of COVID-19 on Hyperfine’s business; the inability to
maintain the listing of Hyperfine’s Class A common stock on the
Nasdaq; the inability to recognize the anticipated benefits of the
business combination, which may be affected by, among other things,
competition and Hyperfine’s ability to grow and manage growth
profitably and retain its key employees; changes in applicable laws
or regulations; the inability of Hyperfine to raise financing in
the future; the inability of Hyperfine to obtain and maintain
regulatory clearance or approval for its products, and any related
restrictions and limitations of any cleared or approved product;
the inability of Hyperfine to identify, in-license or acquire
additional technology; the inability of Hyperfine to maintain its
existing or future license, manufacturing, supply and distribution
agreements and to obtain adequate supply of its products; the
inability of Hyperfine to compete with other companies currently
marketing or engaged in the development of products and services
that Hyperfine is currently marketing or developing; the size and
growth potential of the markets for Hyperfine’s products and
services, and its ability to serve those markets, either alone or
in partnership with others; the pricing of Hyperfine’s products and
services and reimbursement for medical procedures conducted using
Hyperfine’s products and services; Hyperfine’s estimates regarding
expenses, future revenue, capital requirements and needs for
additional financing; Hyperfine’s financial performance; and other
risks and uncertainties indicated from time to time in Hyperfine’s
filings with the Securities and Exchange Commission, including
those under “Risk Factors” therein. Hyperfine cautions readers that
the foregoing list of factors is not exclusive and that readers
should not place undue reliance upon any forward-looking
statements, which speak only as of the date made. Hyperfine does
not undertake or accept any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
to reflect any change in its expectations or any change in events,
conditions or circumstances on which any such statement is
based.
Investor ContactMarissa BychGilmartin Group
LLCmarissa@gilmartinir.com
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