Butterfly Network Appoints Steve Cashman as Chief Business Officer
September 03 2024 - 8:30AM
Business Wire
Seasoned Healthcare Leader to Drive Growth
Strategy and Amplify Continued Commercial Momentum
Butterfly Network, Inc. (NYSE: BFLY), a digital health company
transforming care with portable, semiconductor-based ultrasound
technology and intuitive software, announced the appointment of
Steve Cashman as Chief Business Officer (CBO), effective today.
Cashman joins Butterfly at an exciting juncture, following the
Company’s successful launch of its third-generation Butterfly iQ3
and historic revenue performance in the first half of 2024. Cashman
will join Butterfly’s Executive Management Team, overseeing the
Company’s global sales, marketing, product and corporate
strategy.
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Steve Cashman, Chief Business Officer,
Butterfly Network (Photo: Business Wire)
Steve Cashman has built a reputation in the healthcare industry
for his extensive health technology expertise, commercial
leadership and strategic foresight. Most recently, he served as
President and Chief Executive Officer of Caption Health, where he
led the company through the development and commercialization of
the industry’s first AI-powered ultrasound platform, culminating in
its acquisition by GE Healthcare. Prior to that, Cashman was Chief
Commercial Officer at InTouch Health through its acquisition by
Teladoc, where he significantly expanded the company’s global
footprint and drove key initiatives across product, marketing, and
customer service.
Earlier in his career, he served as Chief Executive Officer of
HealthSpot, a telehealth company acquired by Rite Aid, among other
leadership and board positions. He is engaged in the startup
community as a seasoned entrepreneur and angel investor, and is
currently on the board of Sovato, TympaHealth Technologies,
Vista.ai, and PatientGenie.
“The addition of Steve Cashman to our management team is another
key marker of an outstanding 2024 for Butterfly,” said Joseph
DeVivo, President, Chief Executive Officer, and Board Chairman of
Butterfly Network. “Steve joins us with profound knowledge of the
ultrasound market, deep connection in the artificial intelligence
space, and a thorough understanding of Butterfly’s technology. I’ve
witnessed Steve’s strategic acumen and capacity for driving growth
and innovation firsthand, and I’m beyond confident that he will be
a major asset to us as we continue to enhance our commercial
activities and deliver on our product roadmap.”
Cashman commented, “Joining Butterfly Network at this moment is
incredibly exciting. I’m a firm believer in technology’s potential
to enhance patient care and expand access to healthcare. Butterfly
has what it takes to drive the industry forward – it’s the right
technology with the right approach. I’m eager to bring a fresh
values-driven mindset and customer-first approach to the company.
Together with the Butterfly team, I look forward to driving
meaningful progress in the field and in our performance. The
opportunity to make imaging happen earlier in the care journey has
the potential to improve quality and make healthcare more
equitable.”
Cashman’s appointment comes on the heels of Butterfly’s
announcement of a record-breaking second quarter. The company
reported its highest quarterly revenue in history, with
second-quarter revenue reaching $21.5 million, marking a 16%
year-over-year growth. This achievement follows the company’s
strongest first quarter ever and underscores the effectiveness of
Butterfly’s strategy and the growing demand for its innovative
Butterfly iQ3 product.
For more information on Butterfly Network, visit
www.butterflynetwork.com.
About Butterfly Network
Founded by Dr. Jonathan Rothberg in 2011, Butterfly Network is a
digital health company with a mission to democratize medical
imaging by making high-quality ultrasound affordable, easy-to-use,
globally accessible, and intelligently connected, including for the
4.7 billion people around the world lacking access to ultrasound.
Butterfly created the world's first handheld single-probe
whole-body ultrasound system using semiconductor technology,
Butterfly iQ. The company has continued to innovate, leveraging the
benefits of Moore’s Law to launch its second-generation Butterfly
iQ+ in 2020 and third-generation iQ3 in 2024—each with increased
processing power and performance enhancements. The disruptive
technology has been recognized by TIME’s Best Inventions, Fast
Company’s World Changing Ideas, CNBC Disruptor 50, and MedTech
Breakthrough Awards, among other accolades. With its proprietary
Ultrasound-on-Chip™ technology, intelligent software, and
educational offerings, Butterfly is paving the way to mass adoption
of ultrasound for earlier detection and remote management of health
conditions around the world. Butterfly devices are commercially
available to trained healthcare practitioners in areas including
but not limited to parts of Africa, Asia, Australia, Europe, the
Middle East, North America, and South America; to learn more about
available countries, visit:
butterflynetwork.com/choose-your-country.
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Butterfly Media: Liz Learned Head of Corporate
Communications media@butterflynetwork.com Butterfly
Investors: Heather Getz Chief Financial and Operations Officer
investors@butterflynetwork.com
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