Myomo Announces Upcoming Changes to its Board of Directors
Myomo (NYSE American: MYO), a wearable medical robotics company specializing in neurological disorders and upper-limb paralysis solutions, announced upcoming board changes. Directors Amy Knapp and Yitzchak Jacobovitz will not seek re-election as Class II directors, with their terms concluding at the 2025 Annual Meeting in June 2025.
Knapp, who joined in July 2016, will continue advising on reimbursement matters, while Jacobovitz, who served since January 2023, will transition to a non-voting board observer role. The company plans to appoint new directors as part of its ongoing governance evolution.
The announcement comes following Myomo's achievement of Medicare Part B coverage for its MyoPro™ device. Both departing directors expressed confidence in the company's strategic direction and its progress toward achieving sustainable positive cash flow.
Myomo (NYSE American: MYO), un'azienda di robotica medica indossabile specializzata in disturbi neurologici e soluzioni per la paralisi degli arti superiori, ha annunciato prossimi cambiamenti nel consiglio di amministrazione. I direttori Amy Knapp e Yitzchak Jacobovitz non si ricandideranno come direttori di Classe II, con i loro mandati che si concluderanno durante l'Assemblea Annuale del 2025 nel giugno 2025.
Knapp, che si è unita nel luglio 2016, continuerà a fornire consulenze su questioni di rimborso, mentre Jacobovitz, che ha servito da gennaio 2023, passerà a un ruolo di osservatore non votante nel consiglio. L'azienda prevede di nominare nuovi direttori come parte della sua evoluzione nella governance.
L'annuncio arriva dopo il conseguimento da parte di Myomo della copertura di Medicare Parte B per il suo dispositivo MyoPro™. Entrambi i direttori in partenza hanno espresso fiducia nella direzione strategica dell'azienda e nei suoi progressi verso il raggiungimento di un flusso di cassa positivo e sostenibile.
Myomo (NYSE American: MYO), una empresa de robótica médica portátil especializada en trastornos neurológicos y soluciones para la parálisis de extremidades superiores, anunció próximos cambios en su junta directiva. Las directoras Amy Knapp y Yitzchak Jacobovitz no buscarán la reelección como directores de Clase II, con sus mandatos concluyendo en la Junta Anual de 2025 en junio de 2025.
Knapp, quien se unió en julio de 2016, continuará asesorando sobre asuntos de reembolso, mientras que Jacobovitz, quien ha servido desde enero de 2023, pasará a un rol de observador no votante en la junta. La empresa planea nombrar nuevos directores como parte de su evolución continua en la gobernanza.
El anuncio se produce tras la obtención por parte de Myomo de la cobertura de Medicare Parte B para su dispositivo MyoPro™. Ambos directores salientes expresaron confianza en la dirección estratégica de la empresa y en su progreso hacia la obtención de un flujo de caja positivo y sostenible.
Myomo (NYSE American: MYO), 신경 장애 및 상지 마비 솔루션을 전문으로 하는 착용 가능한 의료 로봇 회사, 이사회의 변화를 발표했습니다. 이사 Amy Knapp과 Yitzchak Jacobovitz는 클래스 II 이사로 재선에 나서지 않으며, 그들의 임기는 2025년 6월 2025년 연례 회의에서 종료됩니다.
2016년 7월에 합류한 Knapp은 환급 문제에 대한 자문을 계속할 것이며, 2023년 1월부터 재직한 Jacobovitz는 비투표 이사 관찰자로 전환될 것입니다. 회사는 지속적인 거버넌스 진화를 위한 일환으로 새로운 이사를 임명할 계획입니다.
이번 발표는 Myomo가 MyoPro™ 장치에 대해 Medicare Part B 보장을 달성한 후 이루어졌습니다. 두 명의 퇴임 이사는 회사의 전략적 방향과 지속 가능한 긍정적 현금 흐름을 달성하기 위한 진전을 확신한다고 밝혔습니다.
Myomo (NYSE American: MYO), une entreprise de robotique médicale portable spécialisée dans les troubles neurologiques et les solutions pour la paralysie des membres supérieurs, a annoncé des changements à venir au sein de son conseil d'administration. Les directeurs Amy Knapp et Yitzchak Jacobovitz ne se représenteront pas en tant que directeurs de Classe II, leurs mandats se terminant lors de l'Assemblée Générale de 2025 en juin 2025.
Knapp, qui a rejoint en juillet 2016, continuera à conseiller sur les questions de remboursement, tandis que Jacobovitz, qui est en fonction depuis janvier 2023, passera à un rôle d'observateur non votant au conseil. L'entreprise prévoit de nommer de nouveaux directeurs dans le cadre de son évolution continue en matière de gouvernance.
L'annonce intervient après que Myomo a obtenu la couverture Medicare Partie B pour son dispositif MyoPro™. Les deux directeurs sortants ont exprimé leur confiance dans la direction stratégique de l'entreprise et ses progrès vers l'obtention d'un flux de trésorerie positif et durable.
Myomo (NYSE American: MYO), ein Unternehmen für tragbare medizinische Robotik, das sich auf neurologische Störungen und Lösungen für die Lähmung der oberen Gliedmaßen spezialisiert hat, gab bevorstehende Änderungen im Vorstand bekannt. Die Direktoren Amy Knapp und Yitzchak Jacobovitz werden sich nicht um eine Wiederwahl als Direktoren der Klasse II bemühen, ihre Amtszeiten enden bei der Jahreshauptversammlung 2025 im Juni 2025.
Knapp, die im Juli 2016 beigetreten ist, wird weiterhin zu Fragen der Erstattung beraten, während Jacobovitz, der seit Januar 2023 im Amt ist, in eine Rolle als nicht stimmberechtigter Beobachter des Vorstands wechselt. Das Unternehmen plant, neue Direktoren im Rahmen seiner fortlaufenden Governance-Entwicklung zu ernennen.
Die Ankündigung erfolgt nach dem Erreichen von Medicare Teil B-Abdeckung für das MyoPro™-Gerät von Myomo. Beide scheidenden Direktoren äußerten Vertrauen in die strategische Ausrichtung des Unternehmens und den Fortschritt auf dem Weg zu einem nachhaltigen positiven Cashflow.
- Medicare Part B coverage secured for MyoPro device
- Company progressing toward sustainable positive cash flow
- Departing directors will maintain advisory roles
- Loss of two experienced board members
- Governance transition period until new directors are appointed
“I’m grateful for the insights and contributions Amy and Yitz have provided the board during their tenures, and extend deepest thanks to both for their work on behalf of Myomo, our shareholders and the patients we serve,” said Paul R. Gudonis, chairman and chief executive officer. “We plan to name additional directors in the future as we continue to evolve Myomo’s governance and strategic oversight.”
“It has been a privilege to serve on Myomo’s board and I’m gratified to have played a role in the growth and success of the company to date. With the achievement of Medicare Part B coverage for the MyoPro™ and an outstanding leadership team, I believe the future is bright for Myomo, and I’m pleased to continue advising the Company on reimbursement matters,” said Ms. Knapp.
“I am highly confident in the Company’s strategic direction, its financial position and its trajectory toward achieving sustainable positive cash flow,” said Mr. Jacobovitz. “I look forward to actively supporting and advising the Company as a non-voting board observer.”
About Myomo
Myomo, Inc. is a wearable medical robotics company that offers improved arm and hand function for those suffering from neurological disorders and upper-limb paralysis. Myomo develops and markets the MyoPro product line. MyoPro is a powered upper-limb orthosis designed to support the arm and restore function to the weakened or paralyzed arms of certain patients suffering from CVA stroke, brachial plexus injury, traumatic brain or spinal cord injury or other neuromuscular disease or injury. It is currently the only marketed device in the
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, of which provisions Myomo is availing itself. Such forward-looking statements include, but are not limited to, plans to add additional directors in the future. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as “believes,” “expects,” “may,” “will,” “could,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” or “anticipates,” or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, outlook, assumptions, or goals. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, uncertainties related to market conditions and satisfaction of customary closing conditions related to the public offering. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Myomo assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise, except as required by law.
Please refer to the Myomo's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other subsequent filings with the SEC, which are available at the SEC's website at www.sec.gov, for additional and more detailed discussion of risk factors that could cause actual results to differ materially from the Myomo’s current expectations.
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Myomo:
ir@myomo.com
Alliance Advisors IR:
Tirth T. Patel
tpatel@allianceadvisors.com
212-201-6614
Source: Myomo, Inc.
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