AppYea Announces Appointment of Leading Medical Device Industry Executive Adi Shemer as CEO

Rhea-AI Summary

AppYea Inc. announced the appointment of Adi Shemer as Chief Executive Officer. Shemer has over 20 years of experience in revitalizing and developing international markets for companies. He will focus on advancing regulatory approval and commercialization of the company's sleep apnea and snoring devices. The combined markets for these devices have a $10 billion addressable market.

GAN YAVNE, ISRAEL / ACCESSWIRE / July 31, 2023 / AppYea Inc. (OTC:APYP), which is focused on the development of accurate wearable monitoring solutions to treat sleep apnea and snoring, today announced the appointment of Adi Shemer as Chief Executive Officer of the Company. Mr. Shemer has been working with the Company since February 2023 as a member of the advisory board.

Mr. Shemer brings over 20 years of senior-level experience in revitalizing and developing international markets for companies, with wide ranging experience in product strategy and market analysis. Mr. Shemer established and managed marketing and distribution channels (direct to consumers and business-to-business) in the U.S. and Europe, mainly in the field of medical devices. Prior to joining the Company, he served as director of operations at Moving Life Ltd, an Israel-based company that develops and markets devices intended to assist seniors, with mobile scooters as its flagship product, where he was primarily responsible for managing the company's U.S. based subsidiary, including developing a full service marketing system, information systems for control and sales management and overseeing the development of new products and upgrades to existing products. Previously, he served as CEO for TR Bikes Ltd, an Israel-based company that develops, manufactures and markets manual and electric cargo bicycles for recreational and business purposes, where he established engineering infrastructures of suppliers and production lines, oversaw direct marketing and B2B efforts, including internet and production platform infrastructures. He also served as CEO at Tzora Active Systems Ltd and its two subsidiary companies in Germany and the U.S. Tzora Active Systems is an Israel-based company that develops, manufactures, and markets add-on power motors for independent and assisted wheelchairs, medical active passive rehabilitation trainers for upper or lower limbs, and a unique line of electric mobility scooters, where he oversaw the re-design and re-focus of the company's business and developed a strategic marketing plan in Israel and international markets. Mr. Shemer has BA from Ariel University in Israel in Industrial Engineering.

Adi Shemer, the Company's new CEO, stated, "I am excited to join and lead AppYea, as the company transitions to the commercial phase of its growth. The Company's patented and AI-based sensing technologies for the tracking and analysis of breathing patterns, are truly transformative in their ability to provide greater accuracy at lower cost. The snoring and sleep apnea devices addresses a significant and underserved market, which could revolutionize how we diagnose and treat these conditions.​ Moreover, the combined markets for these devices have shown consistent double-digit growth and amount to more than a $10 billion addressable market. Looking ahead, our strategy is laser focused on advancing regulatory approval of SleepX Pro and DreamIT Pro, as well as commercialization of SleepX through direct-to-consumer marketing, as well as establishing relationships with third-party sales organizations, distributors, pharmacies, chain stores, online stores, and others. I look forward to leveraging both my experience and deep industry relationships to drive value for shareholders."

Boris (Bary) Molchadsky, AppYea's Chairman, further noted, "I am honored to welcome Adi as CEO of the Company. He brings an impressive track record commercializing and expanding international sales of medical devices. Since joining our advisory board, he has added tremendous value to the organization, and I am quite confident in his abilities as our new CEO to help us realize the full potential of AppYea as we move into the commercial phase."

About SleepX

SleepX is an Israeli research and development company, recently acquired by AppYea. The company had developed a unique product for monitoring and treating sleep apnea and snoring. The technology is protected by several international patents and the company plans to start serial production of its flagship product DreamIT in the coming weeks.

About AppYea

AppYea is a healthtech company commercializing a breakthrough wearable technology for the treatment of snoring and developing wearable solutions to diagnose and treat sleep apnea. The company's solutions are based on its proprietary IP portfolio of AI and sensing technologies for the tracking and analysis of breathing patterns, vital signs and other physiological parameters during sleep, designed for greater accuracy at lower and affordable cost.

Cautionary Note Regarding Forward-Looking Statements

Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future performance of AppYea are subject to many factors including, but not limited to, the sufficiency or working capital and our ability to raise the capital needed to fund our development efforts, timing of product development, FDA approval/clearance of products in development, customer acceptance of our products in the market, the introduction of competitive products, the impact of any product liability or other adverse litigation, commercialization and technological difficulties, and the other risks identified in the S-1 resale registration statement filed with the Securities and Exchange Commission. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward-looking statements, whether as a result of future events, new information, or otherwise.

Contact:

Crescendo Communications, LLC
Tel: (212) 671-1020
Email: APYP@Crescendo-IR.com

SOURCE: APPYEA, Inc.

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FAQ

Who is the new CEO of AppYea Inc.?

The new CEO of AppYea Inc. is Adi Shemer.

What is Adi Shemer's background?

Adi Shemer has over 20 years of experience in revitalizing and developing international markets for companies, mainly in the field of medical devices.

What will Adi Shemer focus on as CEO?

Adi Shemer will focus on advancing regulatory approval of SleepX Pro and DreamIT Pro, as well as commercialization of SleepX through direct-to-consumer marketing and establishing relationships with third-party sales organizations, distributors, pharmacies, chain stores, online stores, and others.

What is the addressable market for AppYea's sleep apnea and snoring devices?

The combined markets for these devices have shown consistent double-digit growth and amount to more than a $10 billion addressable market.

Who is AppYea's Chairman?

AppYea's Chairman is Boris (Bary) Molchadsky.