Rockwell Medical Promotes Tim Chole to Chief Commercial Officer
Rockwell Medical (Nasdaq: RMTI) has promoted Tim Chole to the position of Chief Commercial Officer. Chole has been with the company since December 2019, initially serving as SVP of Sales and Marketing. In his new role, he will report to President and CEO Dr. Mark Strobeck. This promotion follows Rockwell's strategic shift in November 2022, aimed at enhancing revenue-generating businesses and driving profitability. Chole has over 20 years of experience in commercial roles within the pharmaceutical and medical device sectors, with a strong focus on renal care. Under his leadership, Rockwell has increased market share, improved gross margins, and achieved record net sales.
- Tim Chole's promotion to CCO indicates internal recognition of his contributions.
- Chole has successfully increased Rockwell's market share and broadened its product portfolio.
- Improvement in gross margins and record net sales under Chole’s leadership.
- Chole has over 20 years of experience in commercial leadership, particularly in renal care.
- Rockwell's new business strategy, announced in November 2022, aims at enhancing revenue and driving profitability.
- Press release lacks specific financial data to substantiate claims of 'record net sales'.
- No concrete metrics provided for the improvements in market share or gross margins.
- Unclear impact of the new business strategy on long-term profitability.
- Potential shareholder concerns due to the absence of detailed financial figures.
Mr. Chole joined Rockwell Medical in December 2019 as SVP, Sales and Marketing. In November 2022, following the Company's new business strategy announcement, Mr. Chole led Rockwell's commercial organization and supported the Company's vision to focus its efforts on enhancing its revenue-generating businesses and driving the Company towards profitability.
"Tim has an exceptional track record successfully building renal care portfolios and significantly growing sales at some of the largest renal care companies in the world," said Mark Strobeck, Ph.D., President and CEO at Rockwell Medical. "Tim has played a key role in helping us increase our market share, broaden our product portfolio, right-size our pricing, improve our gross margins, and achieve record net sales quarter-over-quarter and year-over-year. I am thrilled to be working alongside Tim at this key juncture in Rockwell's history as we aim to continue to grow our business through organic and inorganic growth and other business development opportunities that support our strategic objectives."
"Customers want to work with Rockwell because we are dedicated to providing the highest quality products supported by the best customer service in the industry," said Mr. Chole. "I am excited by the progress that we have made and the opportunities that lie ahead for Rockwell. It is a privilege to help steward the commercial future of this organization as we strive to positively impact more vulnerable patients with end-stage kidney disease."
Mr. Chole has more than 20 years' experience in commercial leadership roles for pharmaceutical and medical device companies. He has a proven track record of success launching products and growing mature portfolios, many of which have been therapeutics or devices for treatment of renal disease. Early in his career, Mr. Chole served as the marketing lead for the IV iron portfolio at Watson Pharmaceuticals (now Allergan), and later was the Global Marketing Director for AKI Therapy at Gambro AB (now Baxter International Inc.). Mr. Chole's background includes global and
About Rockwell Medical
Rockwell Medical, Inc. (Nasdaq: RMTI) is a healthcare company that develops, manufactures, commercializes, and distributes a portfolio of hemodialysis products for dialysis providers worldwide. Rockwell Medical's mission is to provide dialysis clinics and the patients they serve with the highest quality products supported by the best customer service in the industry. Rockwell is focused on innovative, long-term growth strategies that enhance its products, its processes, and its people, enabling the Company to deliver exceptional value to the healthcare system and provide a positive impact on the lives of hemodialysis patients. Hemodialysis is the most common form of end-stage kidney disease treatment and is usually performed at freestanding outpatient dialysis centers, at hospital-based outpatient centers, at skilled nursing facilities, or in a patient’s home. Rockwell Medical's products are vital to vulnerable patients with end-stage kidney disease, and the Company is relentless in providing unmatched reliability and customer service. Rockwell Medical is the largest supplier of liquid bicarbonate concentrates and the second largest supplier of acid and dry bicarbonate concentrates for dialysis patients in
Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as, "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "could," "can," "would," "develop," "plan," "potential," "predict," "forecast," "project," "intend," "look forward to," "remain confident," “are determined,” “are on track,” “are resolute in our vision,” “aim to,” or the negative of these terms, and similar expressions, or statements regarding intent, belief, or current expectations, are forward looking statements. There can be no assurance that Rockwell Medical will become the leading global supplier of hemodialysis concentrates, expand or maintain its customer relationships going forward, grow its business through organic and inorganic growth and other business development opportunities, or that Mr. Chole's expertise will help Rockwell Medical achieve its strategic goals. While Rockwell Medical believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties (including, without limitation, those set forth in Rockwell Medical's SEC filings), many of which are beyond our control and subject to change. Actual results could be materially different. Risks and uncertainties include, but are not limited to those risks more fully discussed in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2023, as such description may be amended or updated in any future reports we file with the SEC. Rockwell Medical expressly disclaims any obligation to update our forward-looking statements, except as may be required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240530846160/en/
Heather R. Hunter
SVP, Chief Corporate Affairs Officer
(248) 432-1362
IR@RockwellMed.com
Source: Rockwell Medical, Inc.
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