Electromed, Inc., Appoints Peter Horwich, Vice President, Marketing

Rhea-AI Summary

Electromed (NYSE American: ELMD) has appointed Peter Horwich as Vice President, Marketing. Horwich brings over 20 years of experience in Medical Technology marketing, previously serving at Abiomed (now J&J MedTech) where he directed Global Strategic Marketing for Respiratory Therapies. His experience includes roles at Medtronic, Arizant, Entegris, and Guidant. CEO Jim Cunniff highlighted that this strategic appointment comes during a period of business growth and aims to drive therapy adoption for SmartVest Clearway to support revenue growth goals.

Positive

• Strategic hire with extensive medical technology marketing experience
• Appointment aligns with current business growth phase
• Focus on expanding market penetration and therapy adoption

Negative

• None.

Key hire will drive the Company’s market development and therapy adoption initiatives

NEW PRAGUE, Minn.--(BUSINESS WIRE)-- Electromed, Inc. (“Electromed”) (NYSE American: ELMD), a leader in innovative airway clearance technologies, today announced the appointment of Peter Horwich as Vice President, Marketing.

Mr. Horwich, an accomplished marketing veteran, brings over 20 years of experience in driving commercial growth in the Medical Technology market to Electromed. Prior to joining Electromed, Horwich directed Global Strategic Marketing for Respiratory Therapies at Abiomed (now J&J MedTech), a Medical Device manufacturer of extracorporeal membrane oxygenation (ECMO) lung recovery systems, where he was responsible for global marketing initiatives for the Abiomed Breethe OXY-1 System^TM, positioning for strong global market expansion and revenue growth. Prior to his time at Abiomed, Horwich spent over a decade in marketing roles of increasing responsibility at Medtronic, where his accomplishments included new product introductions, market expansion and revenue growth in multiple product segments via innovative marketing strategies. Earlier in his career, Horwich held various marketing roles at Arizant (now Solventum), Entegris and Guidant (now Boston Scientific).

“We are excited to have Peter Horwich join our team at a time of business growth, where we can leverage his talents for further market expansion,” said Jim Cunniff, Chief Executive Officer. “The Vice President, Marketing is a strategic role for Electromed that will strengthen our marketing team and provide leadership in driving therapy adoption for SmartVest Clearway in support of our revenue growth goals, directly enhancing shareholder value.”

“I am very excited to be joining the Electromed team,” said Mr. Horwich. “I believe Electromed has a best-in-class product and a very talented management team, which uniquely positions the company for growth in an under-penetrated market. I look forward to refining and driving the Company’s strategic growth initiatives, while optimizing the Company’s return on investment. I am motivated to work closely with Jim and his team to further Electromed’s reach into the airway clearance market.”

About Electromed, Inc.

Electromed, Inc. manufactures, markets, and sells products that provide airway clearance therapy, including the SmartVest® Airway Clearance System, to patients with compromised pulmonary function. It is headquartered in New Prague, Minnesota, and was founded in 1992. Further information about Electromed can be found at www.smartvest.com.

Cautionary Statements

Certain statements in this press release constitute forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by words such as “anticipate,” “believe,” “estimate,” “continue,” “expect,” “intend,” “may,” “plan” “potential,” “should,” “will,” and similar expressions, including the negative of these terms, but they are not the exclusive means of identifying such statements. Forward-looking statements cannot be guaranteed, and actual results may vary materially due to the uncertainties and risks, known or unknown associated with such statements. Examples of risks and uncertainties for Electromed include, but are not limited to, the competitive nature of our market; changes to Medicare, Medicaid, or private insurance reimbursement policies; changes to state and federal health care laws; changes affecting the medical device industry; our ability to develop new sales channels for our products such as the homecare distributor channel; our need to maintain regulatory compliance and to gain future regulatory approvals and clearances; new drug or pharmaceutical discoveries; general economic and business conditions; our ability to renew our line of credit or obtain additional credit as necessary; our ability to protect and expand our intellectual property portfolio; the risks associated with expansion into international markets, as well as other factors we may describe from time to time in Electromed’s reports filed with the Securities and Exchange Commission (including Electromed’s most recent Annual Report on Form 10-K, as amended from time to time, and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K). Investors should not consider any list of such factors to be an exhaustive statement of all the risks, uncertainties or potentially inaccurate assumptions investors should take into account when making investment decisions. Shareholders and other readers should not place undue reliance on “forward-looking statements,” as such statements speak only as of the date of this press release. We undertake no obligation to update them in light of new information or future events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241028892469/en/

Brad Nagel, Chief Financial Officer

(952) 758-9299

investorrelations@electromed.com

Mike Cavanaugh, Investor Relations

ICR Westwicke

(617) 877-9641

mike.cavanaugh@westwicke.com

Source: Electromed, Inc.

FAQ

Who is the new Vice President of Marketing at Electromed (ELMD)?

Peter Horwich has been appointed as Vice President, Marketing at Electromed (ELMD). He brings over 20 years of experience in Medical Technology marketing.

What is Peter Horwich's previous work experience before joining Electromed (ELMD)?

Prior to Electromed, Horwich was Global Strategic Marketing Director for Respiratory Therapies at Abiomed (now J&J MedTech), and held marketing roles at Medtronic, Arizant, Entegris, and Guidant (now Boston Scientific).

What are the main objectives for the new VP of Marketing at Electromed (ELMD)?

The main objectives are to drive market development, therapy adoption initiatives for SmartVest Clearway, support revenue growth goals, and enhance shareholder value.