CVR Medical Corp. Announces New Chief Executive Officer
Vancouver, British Columbia--(Newsfile Corp. - January 19, 2021) - CVR Medical Corp. (TSXV: CVM) (OTC: CRRVF) ("CVR Medical" or the "Company" or "we") a Canadian listed and US-based healthcare company in the medical device market is pleased to announce Michael Rhodes as Chief Executive Officer (CEO). Michael is a proven senior executive and has held several leadership positions at Fortune 100 and Fortune 500 Companies including Chief Quality Officer at Motorola Solutions Inc. based in Chicago and Global Head of Quality for Technology at HSBC in London. His experience spans a broad spectrum of industry sectors including Health Care, Communication Services, Financials and Information Technology with a strong record of focusing on customer experience, technology and process excellence to successfully drive product differentiation. Michael has an Electrical and Electronic Engineering background and significant program management experience delivering products and solutions on time and within budget for major clients including Shell, Motorola, Microsoft, Transport for London with key partners such as Bechtel, KPMG and Oracle.
Michael Rhodes advanced the medical device development lifecycle model that drives best practices and helps to ensure that all laws and regulatory requirements are met prior to FDA submission. The lifecycle model integrates FDA guidance and FDA recognized quality standards at every phase of the product development process, ensuring timely design reviews and essential risk management actions are identified and managed throughout the life of the project.
Michael Rhodes comes to CVR Medical Corp. with the clear vision of bringing the Carotid Stenotic Scan (CSS) through FDA clearance and to the marketplace. The Board believes that Michael has the knowledge and expertise to navigate CVR Medical Corp. forward to successful introduction of the CSS including future upgrades and new innovations in sound technologies. Based on Michael's experience and track record, he is well positioned to lead CVR Medical Corp. forward to an anticipated successful future in the medical device industry.
About CVR Medical
CVR Medical Corp. is a healthcare company that operates in the medical device industry focused on the commercialization of its disruptive, proprietary Carotid Stenotic Scan device ("CSS"). The CSS is a diagnostic tool that encompasses subsonic, infrasonic, and low frequency sound wave analysis technology. The CSS is a patented device designed to detect and measure carotid arterial stenosis. CVR Medical's shares are listed on the OTC under the symbol "CRRVF". The Company is listed for trading under the symbol "CVM". Additional information regarding the Company can be found in our recent filings with the SEDAR as well as the information maintained on our website at www.cvrmed.com.
ON BEHALF OF THE BOARD:
(signed) Paul Blunden, M.D.
President & Director, interim CEO and CFO
For further information contact:
Paul Blunden, M.D., President/ Director, interim CEO and CFO
This press release contains forward-looking information that involves various risks and uncertainties regarding future events related to: trading on and dialogue with the Exchange, communications and negotiations with CVR Global, dialogue with certain advisors, the Proposed Restructuring, the License Agreement, the Review, certain corporate and securities law requirements, raising capital and potential litigation. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a failure or material setback in the Company satisfying the remaining conditions outlined by the TSX-V; (2) a failure of the Company to raise sufficient capital to relaunch the Company; (3) an inability to complete the Proposed Restructuring with CVR Global: (4)a downturn in general economic conditions in North America and internationally; (5)the inherent uncertainties and speculative nature associated with commercialization of technology and the practice of medicine; (6) a change in health regulations; (7) any number of events or causes which may delay or cease commercialization and development of the CSS Device; (8) the risk that the Company does not execute its business plan; (9) the risk of litigation between the Company and certain shareholders and the risk of litigation generally; (10) an inability to retain key employees; (11) an inability to finance operations and growth; (12) compliance with certain corporate and securities law requirements; and (13) other factors that are beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
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