Nanox Appoints Gilad Yron as Chief Business Officer

Rhea-AI Summary

NANO-X IMAGING LTD (NASDAQ: NNOX) appointed Gilad Yron as Chief Business Officer to enhance its MSaaS agreements and refine commercial strategy. His role aims to oversee customer-facing activities and lead the deployment of over 5,100 Nanox.ARC systems, pending regulatory approvals. Ran Poliakine, Chairman and CEO, emphasized the importance of a world-class team to drive success and democratize medical imaging. Yron's prior experience includes leadership roles at Kornit Digital and Stratasys Ltd, indicating a strong focus on innovation in technology.

Positive

• Appointment of Gilad Yron as Chief Business Officer is expected to enhance leadership and operational efficiency.
• Yron's extensive experience in technology sectors could drive success in executing MSaaS agreements.

Negative

• Dependence on regulatory approvals for deployment of Nanox.ARC systems introduces uncertainty.
• Concerns regarding the market acceptance of the Nanox.Arc and the proposed pay-per-scan model.

NEVE ILAN, Israel and TAIPEI, Taiwan, Sept. 23, 2020 (GLOBE NEWSWIRE) -- NANO-X IMAGING LTD (NASDAQ: NNOX) (“Nanox” or the “Company”), an innovative medical imaging technology Company, announced today that the Company has appointed Gilad Yron to the position of Chief Business Officer. In this newly created role, Mr. Yron will play a lead role in executing the Company’s existing MSaaS agreements (medical screening as a service) while in parallel refining the Company’s commercial strategy and overseeing customer-facing activities.

“As we continue to execute on our differentiated MSaaS model, it is critical that we assemble a word class team with the relevant experience to drive long-term success, and I believe Gilad is a perfect fit to lead this effort as our new CBO,” stated Ran Poliakine, Chairman and Chief Executive Officer of Nanox. “Gilad’s vast prior experience leading high-performance organizations in technology sectors will prove invaluable as we both fulfill our current MSaaS agreements that call for deployment of more than 5,100 Nanox.ARC systems, pending regulatory approvals, as well as drive broader adoption of this revolutionary new medical imaging modality around the world. Gilad rounds out a leadership team that I believe enables us to achieve our mission of democratizing medical imaging and introducing this potentially life-saving technology to the roughly 2/3 of the world’s population that currently has no access to imaging or the early detection that can ultimately save lives.”

“Throughout my career, I have sought to align myself with companies that occupy technology leadership positions within their respective industries, and I believe that Nanox’s fundamental reinvention of the X-ray technology leaves little doubt that they are the leading innovator in the field,” stated Mr. Yron. “I am pleased to have the opportunity to make the Nanox.ARC available to the broadest possible patient population, and I plan to work tirelessly toward this goal.”

Prior to joining Nanox, Mr. Yron served as Executive VP Global Business at Kornit Digital, where he managed the company’s Global Business organization to drive focus on company strategic direction, create a culture of excellence and innovation while building processes and infrastructure to drive and support the company scale-up ambitions. Kornit Digital is a global company and supplies digital textile printing machines to customers in more than 100 countries worldwide, and, founded in 2002, is a public company with a substantial market capitalization. Prior to Kornit Digital, Mr. Yron held senior managerial positions, both domestically and abroad, with organizations such as Stratasys Ltd, Nur Macroprinters, and Applied Materials. Mr. Yron holds a B.Sc. in Physics Engineering from Tel Aviv 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.

Investor Contacts:

Itzhak Maayan
Nanox Imaging
IR@nanox.vision

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

Media Contact:

Alona Stein
ReBlonde for Nanox
alona@reblonde.com

FAQ

What is the role of Gilad Yron at NANO-X IMAGING LTD?

Gilad Yron has been appointed as the Chief Business Officer to lead MSaaS agreements and refine commercial strategy.

What are the expected impacts of Gilad Yron's appointment on NANO-X IMAGING?

His leadership is anticipated to enhance operational efficiency and drive the adoption of Nanox's medical imaging technology.

What is the significance of the MSaaS agreements for NANO-X IMAGING LTD?

MSaaS agreements are crucial for deploying Nanox.ARC systems and expanding access to medical imaging globally.

How many Nanox.ARC systems are planned for deployment?

There are plans to deploy over 5,100 Nanox.ARC systems, pending regulatory approvals.