Nuwellis Announces Plan for CFO Transition
August 08 2023 - 8:00AM
Nuwellis, Inc. (Nasdaq: NUWE), a medical technology company
dedicated to transforming the lives of people with fluid overload,
announced today that Lynn Blake will be transitioning from her role
as Chief Financial Officer to pursue broader career goals. To
ensure a smooth transition, Ms. Blake has agreed to remain in her
current role through September 1, 2023 and then consult with the
Company through March 31, 2024.
In connection with Ms. Blake’s pending departure,
the Company intends to appoint Rob Scott as its Chief Financial
Officer at its next regularly scheduled Board of Directors meeting,
to be held later this month. Mr. Scott, a 10-year veteran of
Nuwellis, is currently the Company’s Senior Finance Director. He
joined the Company in 2013 and has held various positions of
increasing responsibility in finance, strategic planning, and
financial reporting. Mr. Scott was instrumental in the acquisition
of the CHF Solutions assets from Baxter in 2016 and has played a
lead role in the financial planning and integration success of
Nuwellis. Mr. Scott previously spent five (5) years at UnitedHealth
Group (NYSE: UNH) in various finance roles. He is a graduate of the
University of Minnesota, Carlson School of Management, where he
earned a Bachelor of Science in Finance and Entrepreneurial
Studies.
“We sincerely thank Lynn for her invaluable
contributions. She joined the Company in the wake of an important
financing and quickly came up to speed to understand the challenges
and opportunities facing Nuwellis. Her insights into the capital
markets and role during the negotiations of the DaVita Supply and
Collaboration agreement will be felt long after her departure, and
we are fortunate to continue to benefit from her skillset through
the first quarter of next year in ensuring a smooth transition for
Mr. Scott into his new role as CFO,” said Nestor Jaramillo,
President and CEO of Nuwellis.
“We are also excited to promote Rob to the CFO
role. Rob has a thorough understanding of our therapy, our markets
and our customer requirements. He has deep knowledge of the
business and understands the revenue drivers of the Company. He
will be a great addition to our leadership team,” continued Mr.
Jaramillo.
Speaking to the transition plans, Ms. Blake said,
“Having a strong internal successor in Rob will allow for a very
smooth CFO transition, and Rob’s deep institutional knowledge of
the business will further bolster the Company’s leadership team. I
have enjoyed my time at Nuwellis and look forward to continuing to
support Rob and the Company through the transition.”
“As a long-standing member of the Nuwellis team, I
look forward to applying my deep knowledge of the business in the
CFO role and partnering even more closely with the leadership team
through the next stage of growth for the Company,” said Mr.
Scott.
About Nuwellis
Nuwellis, Inc. (Nasdaq: NUWE) is a medical
technology company dedicated to transforming the lives of patients
suffering from fluid overload through science, collaboration, and
innovation. The Company is focused on commercializing the Aquadex
SmartFlow® system for ultrafiltration therapy. Nuwellis is
headquartered in Minneapolis, Minnesota with a
wholly owned subsidiary in Ireland. For more information
visit www.nuwellis.com or visit us
on LinkedIn.
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.
CONTACTS
INVESTORS:Vivian
CervantesGilmartin Group LLCir@nuwellis.com
Newellis (NASDAQ:NUWE)
Historical Stock Chart
From Jul 2024 to Jul 2024
Newellis (NASDAQ:NUWE)
Historical Stock Chart
From Jul 2023 to Jul 2024