KORU Medical Systems, Inc. Appoints Ken Miller as Chief Commercial Officer
November 08 2023 - 4:08PM
Business Wire
KORU Medical Systems, Inc. (NASDAQ: KRMD) ("KORU Medical" or
the "Company"), a leading medical technology company focused on
the development, manufacturing, and commercialization of innovative
and easy-to-use specialty subcutaneous infusion solutions that
improve quality of life for patients, today announced the
appointment of Ken Miller as Chief Commercial Officer, effective
November 6, 2023.
Ken brings over 30 years of extensive expertise and experience
in leading high-performing teams in commercialization and marketing
strategy, international expansion, and driving sustainable growth
and profitability. As Chief Commercial Officer, Ken will have
oversight of the global commercial function including U.S. and
International sales and marketing organizations. He joins KORU
Medical with impressive medical device and pharmaceutical industry
experience, most recently from NASCO Healthcare where he spent five
years as President & CEO. At NASCO, he transformed sales &
marketing, and led the consolidation of NASCO’s manufacturing
footprint which delivered year-over-year double digit revenue and
EBITDA growth. Prior to NASCO, Ken spent 7 years at Becton
Dickinson (NYSE: BDX) with his last role as the Worldwide President
Diabetes Care where he led the transition from a product focus to a
full-service diabetes management solution provider. Ken also held
leadership roles in marketing, sales, and business development with
Novo Nordisk, Adams Respiratory Therapeutics, and Roche
Laboratories. He earned his Bachelor of Arts in Business Management
from State University of New York at Albany and his Master of
Business Administration from The University of Chicago, Booth
School of Business.
“I am confident that Ken’s experience in healthcare paired with
his track record of success will be instrumental in propelling KORU
Medical in this next phase of our growth. His arrival comes at an
exciting time in our company’s journey and his commercialization
expertise, drive and passion for customers and innovation will be
instrumental in achieving this next stage of our success,” said
Linda Tharby, KORU Medical's President and CEO. “I am grateful to
have Ken’s leadership on the KORU Medical team as we continue to
grow the business in new markets and geographies and execute on our
strategic growth plan.”
Mr. Miller added, “I am thrilled to have been appointed as the
Chief Commercial Officer of KORU Medical, and eager to ramp up and
accomplish our strategic goals and deliver value to the company and
its shareholders. I selected KORU Medical because of the life
changing solutions it provides patients in need, its innovation
efforts to continually improve its products, its current leadership
position in subcutaneous infusion and the enormous potential of the
markets served.”
In connection with the commencement of his employment, Mr.
Miller will be awarded two separate options, each to purchase
200,000 shares of the Company’s common stock at an exercise price
equal to the arithmetic mean of the high and low prices of a share
of common stock per share of the Company’s common stock on the day
before the grant date, November 15, 2023. One of the option awards
is subject to a four-year vesting schedule with 25% of the shares
vesting on the first anniversary of the grant date and the
remaining shares vesting in equal annual installments on the
subsequent three anniversaries. The other of the option awards is
subject to vesting based on specified net sales growth targets for
each of the 2024 through 2026 fiscal years, which will vest in full
upon the Company maintaining a specified run rate for at least two
consecutive quarters after January 1, 2024. These awards are
subject to the terms and conditions of the respective option
agreements, which are described in more detail in the Company’s
Form 8-K filed with the Securities and Exchange Commission today.
The Compensation Committee of the Company’s Board of Directors
approved the awards as an inducement material to Mr. Miller’s
employment in accordance with Nasdaq Listing Rule 5635(c)(4).
About KORU Medical Systems
KORU Medical Systems develops, manufactures, and commercializes
innovative and easy-to-use subcutaneous drug delivery systems that
improve quality of life for patients around the world. The FREEDOM
Syringe Infusion System currently includes the FREEDOM60® and
FreedomEdge® Syringe Infusion Drivers, Precision Flow Rate Tubing™
and HIgH-Flo Subcutaneous Safety Needle Sets™. These devices are
used for infusions administered in the home and alternate care
settings. For more information, please visit
www.korumedical.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231108733363/en/
Investor Contact: Greg Chodaczek 347-620-7010
investor@korumedical.com
KORU Medical Systems (NASDAQ:KRMD)
Historical Stock Chart
From Jul 2024 to Aug 2024
KORU Medical Systems (NASDAQ:KRMD)
Historical Stock Chart
From Aug 2023 to Aug 2024