Leading Life Science and Pharmaceutical Entrepreneur Mori Arkin to Join ScoutCam's Board of Directors

Rhea-AI Summary

ScoutCam has appointed Mori Arkin to its board of directors, reflecting his confidence in the company’s potential. Arkin, who previously invested $2 million through Arkin Holdings, replaces Dr. Irit Yaniv to represent the firm. He aims to leverage ScoutCam's technology beyond medical visualization applications into maintenance and various critical industries. Arkin is a renowned entrepreneur in pharmaceuticals with significant investments in healthcare. The company develops customized visual solutions for sectors such as medical, aerospace, and defense.

Positive

• Mori Arkin's appointment showcases confidence in ScoutCam's growth potential.
• Fresh leadership may enhance strategic direction and innovation.
• Arkin aims to expand applications of technology into various industries.

Negative

• Transition may cause continuity concerns given Dr. Irit Yaniv's departure.
• Potential experience gaps if Arkin lacks specific industry operational knowledge.

OMER, Israel, Feb. 16, 2021 (GLOBE NEWSWIRE) -- ScoutCam (OTCQB:SCTC), a leading developer and manufacturer of customized micro visual solutions and supplementary technologies, today announced that Mr. Mori Arkin has been appointed to its board of directors.

On May 18, 2020, Mr. Arkin invested $2 million in the Company through his investment company, Arkin Holdings, and, in connection with the investment, appointed Dr. Irit Yaniv as a board member and representative of Arkin Holdings. After carefully observing ScoutCam’s positive momentum over the past several months, including in his capacity as a special advisor to ScoutCam on matters related to intellectual property, Mr. Arkin decided to replace Dr. Yaniv and represent Arkin Holdings on the board himself.

Prof. Benad Goldwasser, the Executive Chairman of the Board, expressed his gratitude to Dr. Yaniv for her contribution. At the same time, he thanked Mr. Arkin for taking this momentous step of assuming an active role on the board of ScoutCam and thereby demonstrating his belief in the Company and its growing potential.

Mr. Arkin said "My decision to formally join the ScoutCam board reflects my growing belief in this Company and its potential, including beyond visualization solutions for the medical industry. ScoutCam, in my mind, has only begun to tap into its vast potential, and that the applications of its technology are limitless, whether in the fields of maintenance and predictive maintenance, a critical pillar of Industry 4.0, aviation and defense, and more. I am excited to take a more active role on the Company’s leadership team to help realize this impressive potential."

Founder and Chairman of Arkin Holdings, Moshe “Mori” Arkin, is one of Israel’s most successful life sciences and pharmaceutical entrepreneurs. A renowned industrialist and generic drug specialist, he founded Arkin Holdings, which owns, among other investments, a healthcare portfolio of $1 billion through various investment arms, with holdings in some 20 companies, many of them Israeli companies, developing pharmaceutical drugs and medical equipment, such as UroGen Pharma, Keros Therapeutics and Novolog. Mori previously grew Agis into a leading pharmaceutical company and sold it to Perrigo in 2005 for $818 million.

About ScoutCam
ScoutCam is a leading provider of customized visual solutions for organizations across a variety of industries in the form of highly resistant micro cameras and supplementary technologies. ScoutCam devices are used across the medical, aerospace, industrial, research and defense industries. For more information please visit: https://www.scoutcam.com

Media Contact
Yaron Silberman
info@scoutcam.com
+972 526 511 122

Cautionary Note Regarding Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on the Company’s expectations, beliefs, assumptions and intentions regarding, among other things, its product-development efforts, business, financial condition, results of operations, strategies or prospects, as of the date of this news release. They are not guarantees of future performance. Forward-looking statements can be identified by the use of forward-looking words such as “believe,” “expect,” “intend,” “plan,” “may,” “should” or “anticipate” or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things, our ability to maximize the economic potential and monetize the technology covered in the press release; the material and positive effect Mr. Arkin’s appointment will have on our business and operations; risks and uncertainties relating to our reliance on third-party suppliers; market acceptance of our products by prospect markets and industries; our ability to raise sufficient funding in order to meet our business and financial goals; and certain other factors summarized in our filings with the Securities and Exchange Commission. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

FAQ

What is the significance of Mori Arkin's appointment to ScoutCam's board?

Mori Arkin's appointment signifies strong confidence in ScoutCam's growth and strategic potential in various industries.

Who did Mori Arkin replace on ScoutCam's board?

Mori Arkin replaced Dr. Irit Yaniv, who had represented Arkin Holdings on the board.

What investment did Mori Arkin make in ScoutCam?

Mori Arkin invested $2 million in ScoutCam through his investment company, Arkin Holdings.

What potential areas does ScoutCam aim to expand into under Arkin's leadership?

Under Arkin's leadership, ScoutCam aims to expand into maintenance, predictive maintenance, and other critical sectors.