KORU Medical Systems, Inc Announces Leadership Changes to Support Growth Agenda

Rhea-AI Summary

KORU Medical Systems (NASDAQ: KRMD) announces the promotion of Christopher Pazdan to Chief Operating Officer, effective July 18, 2024.

Pazdan, with KORU since 2021, was previously Senior Vice President of Operations. He will now oversee Research and Development, product development, and innovation efforts. CEO Linda Tharby commends Pazdan for his transformative leadership and familiarity with the company's culture.

Brian Case, Chief Technology Officer, will depart on September 16, 2024. Tharby thanks him for his contributions to the R&D team and product development process.

Positive

• Promotion of Christopher Pazdan to COO indicates strengthened leadership and potential for enhanced product development.
• Integration of cross-functional teams under Pazdan may lead to improved efficiency and innovation.

Negative

• Departure of Chief Technology Officer Brian Case could create a temporary disruption in R&D continuity.

MAHWAH, N.J.--(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 patient-centric large volume subcutaneous infusion solutions, today announced the promotion of Christopher Pazdan, to Chief Operating Officer, effective July 18, 2024. Mr. Pazdan has been with the organization since 2021, and last served as the Company’s Senior Vice President of Operations overseeing Quality, Regulatory, Operations, Supply Chain and Project Management. In his role as COO, Chris will also oversee the Research and Development organization and be responsible for the Company’s product development pipeline and innovation efforts.

“As we drive forward in our next chapter of innovation and growth, I am thrilled to welcome Chris to the newly created role of Chief Operating Officer. We are focused on delivering on our growth agenda, and believed it was important to bring our cross-functional project teams together under one leader to better serve customer needs. Chris has proven himself as a transformative business leader, consistently delivering measurable results, and inspiring our team with his drive and collaborative approach,” said Linda Tharby, President, and CEO. “He knows our business and culture well, which will enable him to effectively lead cross functional teams in the launch of key new products and as we continue to expand our leadership position in large volume subcutaneous infusion with new drug therapies. I am confident that he will continue to have a tremendous impact on our long-term success in his new role as COO.”

Chris joined KORU Medical Systems in 2021, as Vice President of Quality Assurance and Regulatory Affairs. In 2022, he was promoted to Senior Vice President of Operations, which included leading manufacturing, supply chain and the project management office. Chris brings more than 20 years of experience in the medical device industry including leadership roles at Hill-Rom and Becton Dickinson (formerly CareFusion/Cardinal Health) across a variety of strategic functions and roles.

Mr. Pazdan added, "In my expanded role as Chief Operating Officer I will prioritize a continued focus around implementing technology and innovation strategies that enable KORU Medical to reach its full potential as a drug delivery partner of choice, while also relentlessly meeting the needs of patients and customers.”

As part of this transition, Brian Case, Chief Technology Officer, will be leaving the Company on September 16, 2024. “I would like to thank Brian for his contributions to KORU Medical and his role in building a strong research and development team and new product development process. We wish him the very best in his future endeavors,” said Tharby.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including but not limited to those relating to the launch of key new products and expansion into new drug therapies. Actual results may differ materially from these statements due to potential risks and uncertainties such as, among others, those risks and uncertainties included under the captions "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023, which is on file with the SEC and available on our website at www.korumedical.com/investors and on the SEC website at www.sec.gov. All information provided in this release and in the attachments is as of July 24, 2024. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.

About KORU Medical Systems

KORU Medical Systems develops, manufactures, and commercializes innovative and patient-centric large volume subcutaneous infusion solutions that improve quality of life for patients around the world. The FREEDOM Syringe Infusion System (the “Freedom System”) currently includes the FREEDOM60^® and FreedomEdge^® Syringe Infusion Drivers, Precision Flow Rate Tubing™ and HIgH-Flo Subcutaneous Safety Needle Sets™. The Freedom System, which received its first FDA clearance in 1994, is used for self-administration in the home by the patient and/or delivery in an ambulatory infusion center by a healthcare professional. Through its Novel Therapies business, KORU Medical provides products for use by biopharmaceutical companies in feasibility/clinical trials during the drug development process and, as needed, is capable of customizing the Freedom System for clinical and commercial use across multiple drug categories. For more information, please visit www.korumedical.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240724840034/en/

Investor Contact:

Greg Chodaczek

347-620-7010

investor@korumedical.com

Source: KORU Medical Systems, Inc.

FAQ

What changes in leadership did KORU Medical Systems announce?

KORU Medical Systems announced the promotion of Christopher Pazdan to Chief Operating Officer, effective July 18, 2024, and the departure of Chief Technology Officer Brian Case on September 16, 2024.

When will Christopher Pazdan start his new role as COO at KORU Medical?

Christopher Pazdan will start his new role as Chief Operating Officer on July 18, 2024.

What responsibilities will Christopher Pazdan have as COO of KORU Medical?

As COO, Christopher Pazdan will oversee Research and Development, product development, and innovation efforts at KORU Medical.

Why is Brian Case leaving KORU Medical Systems?

The press release mentions that Brian Case will be leaving KORU Medical Systems on September 16, 2024, with no specific reason provided.

How might Christopher Pazdan's promotion affect KORU Medical's growth strategy?

Christopher Pazdan's promotion to COO is expected to strengthen leadership and improve efficiency and innovation, potentially positively impacting KORU Medical's growth strategy.