Nemaura Medical Appoints Justin Mclarney as Chief Finance Officer
September 18 2020 - 11:11AM
Business Wire
Nemaura Medical, Inc. (NASDAQ: NMRD)(“Nemaura” or the
“Company”), a medical technology company focused on developing and
commercializing non-invasive wearable diagnostic devices and
supporting personalized lifestyle coaching programs, today
announces it has appointed Justin Mclarney as Chief Finance
Officer, effective September 15, 2020.
Dr. Faz Chowdhury, Nemaura Medical’s Chief Executive Officer
commented, “We are very pleased to welcome Justin to Nemaura. He
will be an invaluable asset to our leadership team as we continue
to grow and execute on our expansive business model. His proven
track record of driving financial and operational success
throughout his career inspires strong confidence as we approach the
commercialization phase of our corporate trajectory.”
Mr. Mclarney brings with him a wealth of experience within
International Finance, Accounting, and Process Development &
Control and has been a Chartered Accountant since 1999. He has a
strong track record of driving profitable growth across businesses
encompassing ecommerce, retail, logistics, and supply chain
operations at an international level. Mr. McIarney has held various
Senior Finance & Operational roles, including most recently the
position of Senior Director, International Finance at Lands’ End
Inc. from January 2016 to May 2020 where he was responsible for all
Finance teams across the European and Japanese business units. From
February 2007 to September 2015, Mr. Mclarney worked for Office
Depot in a range of increasingly senior roles culminating in the
Senior Director of Finance for the European Contract business.
Prior to this, he spent over 10 years in practice, the final 7
years of which was with Ernst & Young LLP. Before his
transition into Accountancy, Mr. McIarney studied Law and obtained
his Legal Practice Certificate.
“I am very happy to be joining Nemura Medical at such an
exciting time. Nemaura has been developing a very exciting platform
over a number of years that offers huge potential to directly
improve the lives of millions of people both with regard to
diabetes as well as other broader and far reaching health and
lifestyle improvements. I look forward to working with Faz and the
team as we build and evolve the business to deliver its commercial
vision across an International footprint,” said Justin Mclarney,
Nemaura CFO.
About Nemaura Medical, Inc.
Nemaura Medical Inc. is a medical technology company developing
and commercializing non-invasive wearable diagnostic devices. The
company is currently commercializing sugarBEAT®, BEAT™diabetes, and
proBEAT™. sugarBEAT®, a CE mark approved Class IIb medical device,
is a non-invasive and flexible continuous glucose monitor (CGM)
providing actionable insights derived from real time glucose
measurements and daily glucose trend data, which may help people
with diabetes and pre-diabetes to better manage, reverse, and
prevent the onset of diabetes. Nemaura has submitted a PMA
(Premarket Approval Application) for sugarBEAT® to the U.S. FDA.
proBEAT™ combines non-invasive glucose monitoring with artificial
intelligence and a digital healthcare subscription service, and is
expected to be launched in the U.S. as a general wellness
product.
The Company sits at the intersection of the global Type 2
diabetes market that is expected to reach nearly $59 billion by
2025, the $50+ billion pre-diabetic market, and the wearable
health-tech sector for weight loss and wellness applications that
is estimated to reach $60 billion by 2023. Nemaura expects to
launch proBEAT™ in the U.S. and sugarBEAT® in the U.K and Germany
by year-end 2020.
For more information, please visit www.NemauraMedical.com.
Cautionary Statement Regarding Forward-Looking
Statements:
The statements in this press release that are not historical
facts may constitute forward-looking statements that are based on
current expectations and are subject to risks and uncertainties
that could cause actual future results to differ materially from
those expressed or implied by such statements. Those risks and
uncertainties include, but are not limited to, the launch of
proBEAT™ in the US, risks related to regulatory status and the
failure of future development and preliminary marketing efforts,
Nemaura’s ability to secure additional commercial partnering
arrangements, risks and uncertainties relating to Nemaura and its
partners’ ability to develop, market and sell proBEAT™, the
availability of substantial additional equity or debt capital to
support its research, development and product commercialization
activities, and the success of its research, development,
regulatory approval, marketing and distribution plans and
strategies, including those plans and strategies related to both
proBEAT™ digital health, and sugarBEAT®. There can be no assurance
that the company will be able to reach a part of or any of the
global market for CGM with its products/services. The FDA reserves
the right to re-evaluate their decision that proBEAT™ qualifies as
a general wellness product should it become aware of any issues
such as skin irritation or other adverse events from the device, as
well as any misuse impacting patient safety, and any other reason
as the FDA may see fit at its discretion to determine the product
does not fit the definition of a general wellness product. These
and other risks and uncertainties are identified and described in
more detail in Nemaura’s filings with the United States Securities
and Exchange Commission, including, without limitation, its Annual
Report on Form 10-K for the most recently completed fiscal year,
its Quarterly Reports on Form 10-Q, and its Current Reports on Form
8-K. Nemaura undertakes no obligation to publicly update or revise
any forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20200918005417/en/
Investor Contact: Tristan Traywick Managing Director CORE
IR 516 222 2560 tt@coreir.com
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