Medicure Announces Appointment of David Gurvey as Chief Financial Officer

Rhea-AI Summary

Medicure Inc. (TSXV: MPH, OTC: MCUJF) announced the appointment of David Gurvey as Chief Financial Officer, effective June 28, 2021. Gurvey, a seasoned finance leader, previously served as CFO at DiaMedica Therapeutics, where he played a crucial role in enhancing company value from $2.4 million to $40 million. The Board expressed confidence in Gurvey's ability to translate strategic vision into operational success, aiming to bolster Medicure's growth in the U.S. cardiovascular market, particularly through its key products AGGRASTAT® and ZYPITAMAG®.

Positive

• Appointment of David Gurvey as CFO may accelerate Medicure's growth strategy.
• Strong track record in financial stewardship with previous experience at DiaMedica.

Negative

• Concerns about continuity in leadership during the transition period.
• Potential experience gaps if Gurvey needs time to acclimate to the new role.

WINNIPEG, MB, June 24, 2021 /PRNewswire/ - Medicure Inc. ("Medicure" or the "Company") (TSXV: MPH) (OTC: MCUJF), a company focused on the development and commercialization of pharmaceuticals and healthcare products for patients and prescribers in the United States market, is pleased to announce the appointment of Mr. David Gurvey (CPA, CMA, B.Sc.) as Chief Financial Officer, effective June 28, 2021.

Mr. Gurvey is an accomplished finance leader with an established track record of strong financial stewardship and strategically building company value. He previously held the position of Chief Financial Officer for DiaMedica Therapeutics, where he was involved in key strategic transactions contributing to growth in company value from $2.4 million to $40 million. He has the capabilities and qualifications to accelerate Medicure's growth and business strategy.

On behalf of the Board of Directors and management, Albert D. Friesen, PhD, CEO and Chair of the Board of Directors, stated, "We are pleased to have David join Medicure. His experience and gift of translating strategic vision into operational execution will further strengthen our ability to achieve Medicure's corporate goals and vision."

About Medicure Inc.
Medicure is a pharmaceutical company focused on the development and commercialization of therapies for the U.S. cardiovascular market. The present focus of the Company is the marketing and distribution of AGGRASTAT^® (tirofiban hydrochloride) injection and ZYPITAMAG^® (pitavastatin) tablets in the United States, where they are sold through the Company's U.S. subsidiary, Medicure Pharma Inc. Medicure also operates Marley Drug, Inc. ("Marley"), a pharmacy located in North Carolina that offers an Extended Supply mail order drug program serving 49 of 50 states, Washington D.C. and Puerto Rico. Marley is committed to improving the health status of its patients and the communities they serve while reducing overall health care costs for employers and other health care consumers. For more information visit www.marleydrug.com. To learn more about The Extended Supply Generic Drug Program call 800.286.6781 or email info@marleydrug.com. For more information on Medicure please visit www.medicure.com. For additional information about AGGRASTAT^®, refer to the full Prescribing Information. For additional information about ZYPITAMAG^®, refer to the full Prescribing Information.

To be added to Medicure's e-mail list, please visit:     
http://medicure.mediaroom.com/alerts

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information: Statements contained in this press release that are not statements of historical fact, including, without limitation, statements containing the words "believes", "may", "plans", "will", "estimates", "continues", "anticipates", "intends", "expects" and similar expressions, may constitute "forward-looking information" within the meaning of applicable Canadian and U.S. federal securities laws (such forward-looking information and forward-looking statements are hereinafter collectively referred to as "forward-looking statements"). Forward-looking statements, include estimates, analysis and opinions of management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors which the Company believes to be relevant and reasonable in the circumstances. Inherent in forward-looking statements are known and unknown risks, uncertainties and other factors beyond the Company's ability to predict or control that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements, and as such, readers are cautioned not to place undue reliance on forward-looking statements. Such risk factors include, among others, the Company's future product revenues, expected results, including future revenue from P5P, the likelihood of receiving a PRV, expected future growth in revenues, stage of development, additional capital requirements, risks associated with the completion and timing of clinical trials and obtaining regulatory approval to market the Company's products, the ability to protect its intellectual property, dependence upon collaborative partners, changes in government regulation or regulatory approval processes, and rapid technological change in the industry. Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions about: general business and economic conditions; the impact of changes in Canadian-US dollar and other foreign exchange rates on the Company's revenues, costs and results; the timing of the receipt of regulatory and governmental approvals for the Company's research and development projects; the availability of financing for the Company's commercial operations and/or research and development projects, or the availability of financing on reasonable terms; results of current and future clinical trials; the uncertainties associated with the acceptance and demand for new products and market competition. The foregoing list of important factors and assumptions is not exhaustive. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of factors, other than as may be required by applicable legislation. Additional discussion regarding the risks and uncertainties relating to the Company and its business can be found in the Company's other filings with the applicable Canadian securities regulatory authorities or the US Securities and Exchange Commission, and in the "Risk Factors" section of its Form 20F for the year ended December 31, 2020.

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SOURCE Medicure Inc.

FAQ

Who is the new CFO of Medicure Inc.?

David Gurvey has been appointed as the new Chief Financial Officer of Medicure Inc., effective June 28, 2021.

What experience does David Gurvey bring to Medicure Inc.?

David Gurvey has a strong background in finance, having previously worked as CFO at DiaMedica Therapeutics, where he significantly increased company value.

What are the implications of David Gurvey's appointment for Medicure Inc.?

His appointment is expected to strengthen Medicure's growth strategy in the U.S. cardiovascular market, but may also pose challenges during the transition.

When did David Gurvey start his role at Medicure Inc.?

David Gurvey will officially assume the role of Chief Financial Officer on June 28, 2021.