Spectral AI, Inc. Announces Return of Founder Dr. J. Michael DiMaio as Chairman of the Board of Directors
Spectral AI (Nasdaq: MDAI) announces the return of founder Dr. J. Michael DiMaio as Chairman of the Board of Directors. The company, focused on AI-driven medical diagnostics for wound care, aims to enhance its leadership for the next growth stage. Richard Cotton will remain on the Board as Audit Committee head and Lead Independent Director.
Dr. DiMaio, a cardiothoracic surgeon with over 30 years of experience, brings extensive medical expertise and leadership to his role. The company has formed an Office of the Chairman to manage daily operations and support the development and commercialization of the DeepView® System. This office will focus on engagement with BARDA, FDA, commercialization efforts, and strategic relationships.
In this transition, Peter Carlson will step down as CEO and Board member but continue as a consultant. Spectral AI remains committed to advancing AI-driven healthcare solutions, including opportunities through its subsidiary, Spectral IP, Inc.
Spectral AI (Nasdaq: MDAI) annuncia il ritorno del fondatore Dr. J. Michael DiMaio come Presidente del Consiglio di Amministrazione. L'azienda, concentrata sulla diagnostica medica basata sull'IA per la cura delle ferite, mira a rafforzare la sua leadership per la prossima fase di crescita. Richard Cotton rimarrà nel Consiglio come responsabile del Comitato di Revisione e Direttore Indipendente Principale.
Il Dr. DiMaio, un chirurgo cardiotoracico con oltre 30 anni di esperienza, porta con sé una vasta esperienza medica e leadership nel suo ruolo. L'azienda ha creato un Ufficio del Presidente per gestire le operazioni quotidiane e supportare lo sviluppo e la commercializzazione del sistema DeepView®. Questo ufficio si concentrerà sul coinvolgimento con BARDA, FDA, sforzi di commercializzazione e relazioni strategiche.
In questa transizione, Peter Carlson si dimetterà da CEO e membro del Consiglio ma continuerà come consulente. Spectral AI rimane impegnata a promuovere soluzioni sanitarie guidate dall'IA, incluse le opportunità attraverso la sua filiale, Spectral IP, Inc.
Spectral AI (Nasdaq: MDAI) anuncia el regreso del fundador Dr. J. Michael DiMaio como Presidente de la Junta Directiva. La empresa, centrada en diagnósticos médicos impulsados por IA para el cuidado de heridas, tiene como objetivo mejorar su liderazgo para la próxima etapa de crecimiento. Richard Cotton permanecerá en la Junta como presidente del Comité de Auditoría y Director Independiente Principal.
El Dr. DiMaio, un cirujano cardiotorácico con más de 30 años de experiencia, aporta una amplia experiencia médica y liderazgo a su función. La empresa ha creado una Oficina del Presidente para gestionar las operaciones diarias y apoyar el desarrollo y la comercialización del sistema DeepView®. Esta oficina se centrará en la interacción con BARDA, FDA, esfuerzos de comercialización y relaciones estratégicas.
En esta transición, Peter Carlson dejará su cargo como CEO y miembro de la Junta, pero continuará como consultor. Spectral AI sigue comprometida a impulsar soluciones de salud impulsadas por IA, incluidas las oportunidades a través de su filial, Spectral IP, Inc.
스펙트럴 AI (Nasdaq: MDAI)는 설립자 Dr. J. Michael DiMaio가 이사회 의장으로 복귀한다고 발표했습니다. 상사는 상처 관리에 대한 AI 기반 의료 진단에 집중하고 있으며, 다음 성장 단계의 리더십을 강화할 계획입니다. Richard Cotton은 감사위원회 의장 및 수석 독립 이사로 이사회에 남을 것입니다.
Dr. DiMaio는 30년 이상의 경험을 가진 심장흉부 외과 의사로서, 그의 역할에 풍부한 의료 전문성과 리더십을 제공합니다. 이 회사는 DeepView® 시스템의 일상 운영 및 개발과 상용화를 지원하기 위해 회장 사무소를 설립했습니다. 이 사무소는 BARDA, FDA와의 협력, 상용화 노력 및 전략적 관계에 중점을 둘 것입니다.
이번 전환에서 Peter Carlson은 CEO 및 이사회 구성원으로서 물러나지만, 컨설턴트로서 계속 활동할 것입니다. Spectral AI는 Spectral IP, Inc.를 통해 제공되는 기회를 포함하여 AI 기반 의료 솔루션을 발전시키기 위해 여전히 노력하고 있습니다.
Spectral AI (Nasdaq: MDAI) annonce le retour du fondateur Dr. J. Michael DiMaio en tant que Président du Conseil d'Administration. L'entreprise, axée sur les diagnostics médicaux assistés par IA pour les soins des plaies, vise à renforcer son leadership pour la prochaine étape de croissance. Richard Cotton restera au Conseil en tant que président du Comité d'Audit et Directeur Indépendant Principal.
Le Dr DiMaio, un chirurgien cardiothoracique avec plus de 30 ans d'expérience, apporte une vaste expertise médicale et un leadership à son poste. L'entreprise a formé un Bureau du Président pour gérer les opérations quotidiennes et soutenir le développement et la commercialisation du système DeepView®. Ce bureau se concentrera sur l'engagement avec BARDA, FDA, les efforts de commercialisation et les relations stratégiques.
Dans cette transition, Peter Carlson démissionnera en tant que PDG et membre du Conseil, mais continuera en tant que consultant. Spectral AI reste engagé à promouvoir des solutions de santé assistées par IA, y compris des opportunités à travers sa filiale, Spectral IP, Inc.
Spectral AI (Nasdaq: MDAI) gibt die Rückkehr des Gründers Dr. J. Michael DiMaio als Vorsitzender des Board of Directors bekannt. Das Unternehmen, das sich auf KI-gestützte medizinische Diagnostik für die Wundversorgung konzentriert, strebt danach, seine Führung für die nächste Wachstumsphase zu stärken. Richard Cotton wird im Board als Vorsitzender des Prüfungsausschusses und als leitender unabhängiger Direktor bleiben.
Dr. DiMaio, ein Herz-Thorax-Chirurg mit über 30 Jahren Erfahrung, bringt umfangreiche medizinische Expertise und Führung in seine Rolle ein. Das Unternehmen hat ein Büro des Vorsitzenden gegründet, um die täglichen Abläufe zu verwalten und die Entwicklung und Vermarktung des DeepView®-Systems zu unterstützen. Dieses Büro wird sich auf die Zusammenarbeit mit BARDA, FDA, Vermarktungsinitiativen und strategischen Beziehungen konzentrieren.
In diesem Übergang wird Peter Carlson als CEO und Board-Mitglied zurücktreten, jedoch weiterhin als Berater tätig sein. Spectral AI bleibt verpflichtet, KI-gestützte Gesundheitslösungen voranzutreiben, einschließlich Möglichkeiten durch ihre Tochtergesellschaft, Spectral IP, Inc.
- Return of experienced founder Dr. J. Michael DiMaio as Chairman, bringing extensive medical expertise
- Formation of Office of the Chairman to focus on key operational areas and commercialization efforts
- Continued progress on U.S. Burn Pivotal Study with completed adult and pediatric patient enrollment
- Transition of CEO Peter Carlson out of his role, potentially causing short-term leadership instability
Insights
The return of Dr. J. Michael DiMaio as Chairman of the Board is a significant development for Spectral AI. His extensive experience in cardiothoracic surgery, leadership roles in prestigious medical organizations and impressive research background bring valuable expertise to the company's mission of revolutionizing wound care diagnostics.
Dr. DiMaio's focus on commercialization, FDA approval and strategic relationships could accelerate the development and market entry of the DeepView® System. His commitment to engaging with shareholders and emphasizing the company's mission may improve investor relations and potentially impact stock performance.
The creation of the Office of the Chairman to handle day-to-day operations suggests a more hands-on approach to clinical development and commercialization. This restructuring, along with the CEO transition, indicates a strategic shift that could streamline decision-making processes and potentially expedite product development.
While these changes are promising, investors should monitor how quickly they translate into tangible progress in FDA approvals, BARDA engagement and commercial partnerships. The company's
The management changes at Spectral AI present a mixed financial outlook. On the positive side, Dr. DiMaio's return as Chairman brings valuable industry connections and a deep understanding of the company's technology, which could accelerate commercialization efforts and potentially attract strategic partnerships or investment.
However, the transition of the CEO and the creation of the Office of the Chairman may lead to short-term operational adjustments that could impact near-term financial performance. Investors should watch for any changes in R&D spending, burn rate, or shifts in strategic priorities that may affect the company's financial position.
Given Spectral AI's relatively small market cap of
While the changes signal a renewed focus on commercialization, investors should remain cautious and monitor upcoming financial reports for signs of progress in product development and any impact on the company's cash position.
DALLAS, Oct. 14, 2024 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced that the Company's Founder, Dr. J. Michael DiMaio, has been named Chairman of the Board of Directors.
“Our Board of Directors welcomes Dr. DiMaio back to the role of Spectral AI's Chairman. Given our needs for the future, the Board concluded it was clear Dr. DiMaio’s expertise, leadership style, and deep understanding of our industry and the DeepView® System, paired with his deep commitment to patient care and our employees, make him the right person to lead Spectral AI’s next stage of growth,” said Richard Cotton, current Chairman of the Company’s Board of Directors. “I look forward to supporting him and the rest of the Board as they seize the opportunities ahead.” Mr. Cotton will remain on the Board and serve as the head of the Company’s Audit Committee and Lead Independent Director.
Dr. J. Michael DiMaio, Spectral AI’s newly elected Chairman of its Board of Directors, said, “As a surgeon, my passion has always been to improve patient outcomes by providing clinicians with the most advanced tools for faster, more accurate diagnoses. Spectral AI’s technology has the potential to revolutionize wound care, enabling healthcare providers to make critical decisions faster and with greater precision. As a founder of Spectral AI and its second largest shareholder, I am honored to step into the role of Chairman and remain committed to advancing innovations that will enhance patient care and ultimately save lives by completing the development of this advanced technology and taking it to market. Our focus will be on commercialization, FDA approval, our exceptional relationship with BARDA and developing key strategic relationships. I want to build upon the Company’s story and engage with our shareholders in a way that tells them why what the Company is doing matters.”
Dr. J. Michael DiMaio, the founder of Spectral AI in 2009, served as the Company's Chief Executive Officer and Chairman of the Board from 2011 to 2020, demonstrating his leadership and vision. He currently holds the Chief of Staff position at Baylor Scott & White, one of the country’s leading healthcare systems, and he has more than 30 years of experience in cardiothoracic surgery. Dr. DiMaio specializes in advanced cardiovascular and thoracic procedures and oversees more than 650 physicians within the organization.
His leadership extends to multiple distinguished medical organizations, including the American Surgical Association, Society of Thoracic Surgeons, American College of Surgeons, American Association of Thoracic Surgery, American Heart Association, American Burn Association, International Society of Heart and Lung Transplantation, American Society of Transplant Surgeons, and the Southern Thoracic Surgical Association.
Dr. DiMaio has authored over 500 peer-reviewed publications and directs a research group that has produced more than 1,000 articles in leading medical journals, including JAMA, New England Journal of Medicine, Lancet, Science, and Circulation since 2018. He has also served on editorial boards or as a reviewer for prestigious medical journals and has reviewed grants for the National Institutes of Health (NIH), the American Heart Association, and the U.S. Department of Defense. Additionally, he has served on international medical guideline committees. He has been responsible for supervising or negotiating over
Dr. DiMaio earned his medical degree from the University of Miami and completed his internal medicine, general surgery, and cardiothoracic surgery residencies as well as a NIH-sponsored fellowship at Duke University Medical Center.
The Company also announced that the Board has authorized creation of the Office of the Chairman to assume day-to-day operational responsibilities and support the ongoing clinical development and commercialization of the Company’s DeepView® System, with particular focus on engagement with BARDA, the FDA, commercialization efforts and strategic relationships. The Office of the Chairman will be comprised of Chief Financial Officer and General Counsel Vincent Capone, Chief Commercialization Officer Jeremiah Sparks, Interim Chief Operating Officer Stan Micek, and General Manager Louis Percoco, and will report directly to the Board.
In connection with the formation of the Office of the Chairman, Peter Carlson will be transitioning out of his role as Chief Executive Officer and from the Spectral AI, Inc. Board of Directors to pursue other business opportunities. He will remain as a consultant to the Company.
"I would like to thank Pete for his contributions to Spectral AI as CEO, and board member. I would particularly like to recognize his role in leading the Company during the completion of adult and pediatric patient enrollment at U.S. burn centers for our U.S. Burn Pivotal Study and his unwavering support for the commercialization of our DeepView Wound Imaging System,” added Cotton.
Spectral AI remains committed to advancing AI-driven solutions in healthcare, including opportunities and strategic developments fostered by its wholly-owned subsidiary, Spectral IP, Inc.
About Spectral AI
Spectral AI, Inc. is a Dallas-based predictive AI company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, with initial applications involving patients with burns and diabetic foot ulcers. The Company is working to revolutionize the management of wound care by “Seeing the Unknown®” with its DeepView® System. DeepView is a predictive device that offers clinicians an objective and immediate assessment of a wound’s healing potential prior to treatment or other medical intervention. With algorithm-driven results and a goal of exceeding the current standard of care in the future, DeepView is expected to provide faster and more accurate treatment insight towards value care by improving patient outcomes and reducing healthcare costs. For more information about DeepView, visit www.spectral-ai.com.
Forward-Looking Statements
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s strategy, plans, objectives, initiatives and financial outlook. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements.
These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. As such, readers are cautioned not to place undue reliance on any forward-looking statements.
Investors should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” sections of the Company’s filings with the SEC, including the Registration Statement and the other documents filed by the Company. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.
Investors:
The Equity Group
Devin Sullivan
Managing Director
dsullivan@equityny.com
Conor Rodriguez
Analyst
crodriguez@equityny.com
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