IRADIMED CORPORATION Names Leslie McDonnell as President and Chief Executive Officer
July 29 2019 - 4:00PM
IRADIMED CORPORATION (NASDAQ: IRMD) announced today that its Board
of Directors unanimously appointed Leslie McDonnell, to succeed
Roger Susi as President and Chief Executive Officer. Mr. Susi will
step down as President and CEO on August 19, 2019 after leading the
Company since its founding 27 ago. Mr. Susi will remain highly
engaged with the company by continuing as its Chairman and in the
new position of Chief Technology Officer. Ms. McDonnell was also
elected to the Board of Directors effective August 19, 2019.
Under Mr. Susi’s leadership, IRADIMED has achieved many
milestones:
- Developed and commercialized the world’s first and only
non-magnetic MRI compatible IV infusion pump
- Completed a successful initial public offering in July
2014
- Increased revenue from $7.7 million in 2012 to $30.4 million in
2018, a compound annual growth rate of nearly 26%
“Founding and growing IRADIMED with the purpose of
improving patient care has been an incredible experience and I am
proud of everyone that has been involved. I am truly excited about
the future of IRADIMED and look forward to my continued engagement
focusing solely on engineering and the development of our new
products that are aimed at fueling our continued organic growth,”
said Susi.
“After a rigorous selection process, the Board and I believe
that Leslie is the perfect person to lead the company through our
next growth phase. She is a dynamic leader with deep industry
experience and a strong strategic vision,” said Susi.
Ms. McDonnell is a healthcare business executive with extensive
global experience in medical devices, supplies and equipment. Prior
to her appointment as IRADIMED’s President and CEO,
Ms. McDonnell, 46, served as Vice President and General
Manager of the Newborn Care business unit at Natus Medical. Prior
to joining Natus Medical, she was Global Business Vice President
for the Critical & Chronic Care Solutions Division of 3M
Healthcare. Ms. McDonnell also held senior leadership positions at
Medtronic in corporate M&A, business development, new therapy
and product development, and marketing and business management. She
earned a Bachelor of Science in Business and a Masters of Business
Administration as an International Business Fellow from the Carlson
School of Management at the University of Minnesota.
“IRADIMED is a true pioneer in non-magnetic MRI compatible
products. I am honored to have been chosen to lead this company. I
believe deeply in the future of IRADIMED and the opportunity
to expand its positive impacts on patient care,” said McDonnell.
About IRADIMED CORPORATION
IRADIMED CORPORATION is a leader in the development of
innovative magnetic resonance imaging (“MRI”) compatible medical
devices. We are the only known provider of a non-magnetic
intravenous (“IV”) infusion pump system that is specifically
designed to be safe for use during MRI procedures. We were the
first to develop an infusion delivery system that largely
eliminates many of the dangers and problems present during MRI
procedures. Standard infusion pumps contain magnetic and electronic
components which can create radio frequency interference and are
dangerous to operate in the presence of the powerful magnet that
drives an MRI system. Our patented MRidium® MRI compatible IV
infusion pump system has been designed with a non-magnetic
ultrasonic motor, uniquely designed non-ferrous parts and other
special features to safely and predictably deliver anesthesia and
other IV fluids during various MRI procedures. Our pump solution
provides a seamless approach that enables accurate, safe and
dependable fluid delivery before, during and after an MRI scan,
which is important to critically-ill patients who cannot be removed
from their vital medications, and children and infants who must
generally be sedated to remain immobile during an MRI scan.
Our 3880 MRI compatible patient vital signs monitoring system
has been designed with non-magnetic components and other special
features to safely and accurately monitor a patient’s vital signs
during various MRI procedures. The IRADIMED 3880 system
operates dependably in magnetic fields up to 30,000 gauss, which
means it can operate virtually anywhere in the MRI scanner room.
The IRADIMED 3880 has a compact, lightweight design allowing
it to travel with the patient from their critical care unit, to the
MRI and back, resulting in increased patient safety through
uninterrupted vital signs monitoring and decreasing the amount of
time critically ill patients are away from critical care units. The
features of the IRADIMED 3880 include: wireless ECG with
dynamic gradient filtering; wireless SpO2 using Masimo® algorithms;
non-magnetic respiratory CO2; non-invasive blood pressure; patient
temperature, and; optional advanced multi-gas anesthetic agent unit
featuring continuous Minimum Alveolar Concentration measurements.
The IRADIMED 3880 MRI compatible patient vital signs
monitoring system has an easy-to-use design and allows for the
effective communication of patient vital signs information to
clinicians.
Forward-Looking Statements
This press release contains forward-looking statements as
defined in the Private Securities Litigation Act of 1995,
particularly statements regarding our expectations, beliefs, plans,
intentions, future operations, financial condition and prospects,
and business strategies. These statements relate to future events
or our future financial performance or condition and involve
unknown risks, uncertainties and other factors that could cause our
actual results, level of activity, performance or achievement to
differ materially from those expressed or implied by these
forward-looking statements. The risks and uncertainties referred to
above include, but are not limited to, risks associated with the
Company’s ability to receive and maintain regulatory clearance for
new and existing products; unexpected costs, delays or diversion of
management’s attention associated with the design, manufacture or
sale of new products; the Company’s ability to implement successful
sales techniques for existing and future products and evaluate the
effectiveness of its sales techniques; additional actions by or
requests from the FDA; our significant reliance on a single
product; unexpected costs, expenses and diversion of management
attention resulting from the FDA warning letter; potential
disruptions in our limited supply chain for our products; a
reduction in international distribution; actions of the FDA or
other regulatory bodies that could delay, limit or suspend product
development, manufacturing or sales; the effect of recalls, patient
adverse events or deaths on our business; difficulties or delays in
the development, production, manufacturing and marketing of new or
existing products and services; changes in laws and regulations or
in the interpretation or application of laws or regulations.
Further information on these and other factors that could affect
the Company’s financial results is included in filings we make with
the Securities and Exchange Commission from time to time. All
forward-looking statements are based on information available to us
on the date hereof, and we assume no obligation to update
forward-looking statements.
For more information please visit www.iradimed.com.
Media Contact:Chris ScottChief Financial OfficerIRADIMED
CORPORATION(407) 677-8022 InvestorRelations@iradimed.com
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