Nanox Announces Appointment of Medical Executive Moshe Shtengel as Chief Business Officer

Rhea-AI Summary

NANOX IMAGING LTD (NASDAQ: NNOX) appointed Moshe Shtengel as Chief Business Officer on May 2, 2021. With extensive experience in medical business development, Shtengel previously led sales and marketing at Tuttnauer and held key positions at Lumenis and Truphatek. His expertise is expected to enhance Nanox's commercial strategy as they prepare for the launch of their novel Nanox.ARC digital x-ray technology, which has received FDA clearance. The company aims to democratize medical imaging globally.

Positive

• Appointment of Moshe Shtengel as Chief Business Officer brings extensive experience in medical business development.
• Shtengel's expertise expected to enhance the launch strategy for the Nanox.ARC technology.
• FDA clearance of the Nanox Cart X-Ray System supports upcoming commercial deployment.

Negative

• Potential challenges in market acceptance of the Nanox.ARC technology and business model.

Appointment adds to the Nanox team extensive experience in global medical business development and sales

NEVE ILAN, Israel, May 03, 2021 (GLOBE NEWSWIRE) -- NANOX IMAGING LTD (NASDAQ: NNOX) (“Nanox” or the “Company”), an innovative medical imaging technology company, announced today the appointment of Moshe Shtengel as Chief Business Officer, effective May 2, 2021. Mr. Shtengel joins Nanox from Tuttnauer, a global manufacturer of sterilizers and infection control systems for medical institutions, where he served as Vice President of Global Sales, Marketing and Products.

“Moshe is an extremely seasoned sales and business development executive with a proven track record of success and leadership in the medical field,” stated Ran Poliakine, Chairman and Chief Executive Officer of Nanox. “As we ramp up our manufacturing capabilities in preparation for the commencement of commercial shipments to our service partners, Moshe’s experience will prove invaluable as we strive to execute an efficient and seamless launch of our novel technology.”

“Throughout my career, I have had the pleasure of participating in the launch and commercialization of revolutionary technologies that represent a significant technological leap forward in their field,” stated Mr. Shtengel. “The Nanox.ARC, the company’s novel digital x-ray source technology, is consistent with that theme. With the recent FDA clearance of the Nanox Cart X-Ray System and potential clearance of the multi-source system for commercial use, I am delighted and privileged to join the company and contribute to a successful launch plan that maximizes the reach of this potentially life-saving technology. I look forward to achieve the company’s goal of democratizing medical imaging globally.”

Prior to Tuttnauer, Mr. Shtengel served as EMEA Health of Sales and Marketing, Surgical Business Unit at Lumenis Ltd., a global leader in the field of minimally invasive clinical solutions for the surgical, ophthalmology and aesthetic markets. Prior to that, he served as Head of Global Sales and Marketing at Truphatek International Ltd., a leading global medical device company. Before that, Mr. Shtengel was Head of Clinical Trial and Compliance Business Unit at BJC Healthcare, one of the largest health care organizations in the United States.

Mr. Shtengel earned his BA in Economics in Business Administration from Ben Gurion University of Negev, Israel and his Master of Business Administration (MBA) with majors in Marketing and General Management from the Fuqua School of Business, Duke University.

About Nanox:

Nanox, founded by the serial entrepreneur Ran Poliakine, is an Israeli corporation that is developing a commercial-grade digital X-ray source designed to be used in real-world medical imaging applications. Nanox believes that its novel technology could significantly reduce the costs of medical imaging systems and plans to seek collaborations with world-leading healthcare organizations and companies to provide affordable, early detection imaging service for all. For more information, please visit www.nanox.vision.

Forward-Looking Statements:

This press release may contain forward-looking statements that are subject to risks and uncertainties. All statements that are not historical facts contained in this press release are forward-looking statements. Such statements include, but are not limited to, any statements relating to the initiation, timing, progress and results of Nanox's research and development, manufacturing and commercialization activities with respect to its X-ray source technology and the Nanox.Arc. In some cases, you can identify forward-looking statements by terminology such as “can,” “might,” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “should,” “could,” “expect,” “predict,” “potential,” or the negative of these terms or other similar expressions. Forward-looking statements are based on information Nanox has when those statements are made or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause actual results to differ materially from those currently anticipated include: risks related to business interruptions resulting from the COVID-19 pandemic or similar public health crises could cause a disruption of the development, deployment or regulatory clearance of the Nanox System and adversely impact our business; Nanox's ability to successfully demonstrate the feasibility of its technology for commercial applications; Nanox's expectations regarding the necessity of, timing of filing for, and receipt and maintenance of, regulatory clearances or approvals regarding its X-ray source technology and the Nanox.Arc from regulatory agencies worldwide and its ongoing compliance with applicable quality standards and regulatory requirements; Nanox's ability to enter into and maintain commercially reasonable arrangements with third-party manufacturers and suppliers to manufacture the Nanox.Arc; the market acceptance of the Nanox.Arc and the proposed pay-per-scan business model; Nanox's expectations regarding collaborations with third-parties and their potential benefits; and Nanox's ability to conduct business globally, among others. Except as required by law, Nanox undertakes no obligation to update publicly any forward-looking statements after the date of this press release to conform these statements to actual results or to changes in Nanox's expectations.

Contacts:

Investors

Itzhak Maayan
Nanox Imaging
IR@nanox.vision

Bob Yedid
LifeSci Advisors
646-597-6989
bob@lifesciadvisors.com

Media

Alona Stein
ReBlonde for Nanox   
alona@reblonde.com

FAQ

What is the significance of Moshe Shtengel's appointment at NANOX?

Moshe Shtengel brings crucial experience in medical sales and marketing, enhancing NANOX's strategy for the commercial launch of its technologies.

What technology is NANOX preparing to launch?

NANOX is preparing to launch the Nanox.ARC, a novel digital x-ray source technology that aims to democratize medical imaging.

When did Moshe Shtengel join NANOX?

Moshe Shtengel joined NANOX as Chief Business Officer on May 2, 2021.

What previous positions did Moshe Shtengel hold before joining NANOX?

Before joining NANOX, Shtengel was Vice President of Global Sales at Tuttnauer and held key roles at Lumenis and Truphatek.