NEW YORK, April 25, 2023 /PRNewswire/ -- PAVmed Inc. (Nasdaq: PAVM, PAVMZ) ("PAVmed"), a diversified commercial-stage medical technology company, operating in the medical device, diagnostics, and digital health sectors, and its majority-owned digital health subsidiary Veris Health Inc. ("Veris"), today announced the appointment of Gary Manning to the newly created position of President, Veris Health. Mr. Manning reports directly to Lishan Aklog, M.D., PAVmed's Chairman & Chief Executive Officer and Veris' Executive Chairman.
"We are very pleased to welcome Gary to Veris and to the PAVmed family," said Dr. Aklog. "Gary is an accomplished medical technology executive who shares our deep passion for developing and commercializing highly innovative solutions for the benefit of patients and their physicians. He has had a successful career, spanning three decades, including leading companies in the medical device, wearable, and digital health arenas and commercializing products in the global market. We look forward to leveraging Gary's expertise and strategic insight to drive commercialization of our Veris Cancer Care Platform™, as well as guide the company through near-term development, regulatory and commercialization milestones for our implantable cardiac and physiologic monitor."
"I am both thrilled and honored by the opportunity to lead Veris at such an exciting time in the company's life cycle and eager to contribute further to the commercial and developmental successes already delivered by this incredibly talented team," said Mr. Manning. "Throughout my career, I have been drawn to opportunities that are rooted in cutting-edge solutions which provide meaningful improvements in patient care. I believe the Veris Cancer Care Platform and Veris' implantable technology under development are such solutions. Feedback from my early engagement with Veris clients squarely aligns with our confidence in the vast potential for these technologies to enhance personalized cancer care."
Mr. Manning began his career as a hospital clinical engineer and then spent several years at Datascope Corp. (Nasdaq: DSCP, now part of Getinge AB), advancing through many different global commercial positions in both the cardiac and patient monitoring divisions. In 2008, Mr. Manning joined the start-up company Sotera Wireless, Inc. as Senior Vice President of Sales and Marketing. There he successfully led the commercial strategy, from product inception, for one of the first wearable, continuous vital signs monitors used to detect early patient complications. He expanded the business into multiple global markets before Sotera was acquired by Taiwanese conglomerate, FoxConn Technology Group. More recently, Mr. Manning continued his leadership in the digital health arena as Chief Executive Officer of Gaido Health. Gaido developed and commercialized a digital oncology platform designed to keep cancer patients in their own homes by preventing avoidable readmissions. He oversaw the acquisition of Gaido Health by Biofourmis in 2020. Prior to joining Veris, Mr. Manning served as Senior Vice President & General Manager at physIQ Inc., a leading digital health company, where he focused on establishing, building, and executing a customer-facing commercial strategy in both the Healthcare and Life Sciences arena for their disease-agnostic, AI-driven digital platform.
About PAVmed and Veris Health
PAVmed Inc. is a diversified commercial-stage medical technology company operating in the medical device, diagnostics, and digital health sectors. Its majority-owned subsidiary, Veris is a commercial-stage digital health company whose Veris Cancer Care Platform™ is designed to enhance personalized cancer care through remote patient monitoring. Patients enrolled on the platform receive a VerisBox™ containing Bluetooth-enabled connected health care devices that transmit real-time physiologic data to the cloud-based Veris clinician portal. The patients also report symptoms and quality of life parameters through the Veris patient smartphone app, which is available on the Apple App Store and Google Play. The clinician portal is designed to be integrated into the oncology practice and allows the cancer care team to review physiologic and clinical data, and to bill for RPM services. The software-as-a-service recurring-revenue business model delivers near-term value at attractive margins to both Veris and its clients. The company is concurrently developing an implantable cardiac and physiological monitor, with biologic sensors and wireless communication, designed to be implanted alongside a chemotherapy port, which will interface with the Veris Cancer Care Platform.
PAVmed's other majority-owned subsidiary, Lucid Diagnostics Inc. (Nasdaq: LUCD), is a commercial-stage cancer prevention medical diagnostics company that markets the EsoGuard® Esophageal DNA Test and EsoCheck® Esophageal Cell Collection Device—the first and only commercial tools for widespread early detection of esophageal precancer to prevent esophageal cancer deaths.
For more information about Lucid Diagnostics, please visit www.luciddx.com.
This press release includes forward-looking statements that involve risk and uncertainties. Forward-looking statements are any statements that are not historical facts. Such forward-looking statements, which are based upon the current beliefs and expectations of PAVmed's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Risks and uncertainties that may cause such differences include, among other things, volatility in the price of PAVmed's common stock; general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required to advance PAVmed's products to regulatory submission; whether regulatory authorities will be satisfied with the design of and results from PAVmed's clinical and preclinical studies; whether and when PAVmed's products are cleared by regulatory authorities; market acceptance of PAVmed's products once cleared and commercialized; PAVmed's ability to raise additional funding as needed; and other competitive developments. In addition, PAVmed has been monitoring the COVID-19 pandemic and the pandemic's impact on PAVmed's businesses. PAVmed expects the significance of the COVID-19 pandemic, including the extent of its effect on its financial and operational results, to be dictated by, among other things, the success of efforts to contain the pandemic and the impact of such efforts on PAVmed's businesses. These factors are difficult or impossible to predict accurately and many of them are beyond PAVmed's control. In addition, new risks and uncertainties may arise from time to time and are difficult to predict. For a further list and description of these and other important risks and uncertainties that may affect PAVmed's future operations, see Part I, Item 1A, "Risk Factors," in PAVmed's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, as the same may be updated in Part II, Item 1A, "Risk Factors" in any Quarterly Report on Form 10-Q filed by PAVmed after its most recent Annual Report. PAVmed disclaims any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in its expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements.
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SOURCE PAVmed Inc.
Released April 25, 2023