ScoutCam Rounds Out Management Team with Appointments of Arik Priel as Chief SW Architect and Roee Peled as VP Business Development
ScoutCam (OTCQB:SCTC) announces key leadership appointments to enhance its Industry 4.0 expansion strategy. Arik Priel joins as Chief SW Architect, bringing over 20 years of experience in R&D and AI technologies. He aims to bolster ScoutCam’s software innovations. Roee Peled becomes VP of Business Development, focusing on customer acquisition and opening new markets. Both leaders will support transitioning the company to a recurring revenue model in sectors like Aviation, Energy, and Automotive.
- Appointment of Arik Priel as Chief SW Architect to enhance software development.
- Roee Peled's experience in business development to drive market expansion.
- Focus on transitioning to a recurring revenue model, potentially increasing long-term revenue.
- Dependence on new leadership to execute growth strategies poses potential risks.
- Market acceptance of products remains uncertain, which could hinder growth.
Both Positions Will Focus on Advancing the Company’s Expansion Strategy in the Industry 4.0 Markets
OMER, Israel, Nov. 02, 2021 (GLOBE NEWSWIRE) -- ScoutCam (OTCQB:SCTC), a leading provider of turnkey I4.0 visualization solutions, composed of field proven highly resilient image acquisition unit, data collection and storage with dedicated AI capabilities, today announced the additions of Arik Priel as the Company’s new Chief SW Architect and Roee Peled as the Company’s new Vice President of Business Development.
Arik brings over 20 years of experience in leading multidisciplinary R&D and engineering teams in defining and navigating product development from concept to deployment, with a focus on cloud-based architectures and AI-based technologies.
Prior to joining ScoutCam, Arik held several senior technology positions, most recently as CTO of Octopol, where he combined state of the art AI models together with cutting edge software technology. Prior to Octopol, Arik served as Director of Technology at Green & Gold Analytics, where he established partnerships with Microsoft and Amazon Web Services. Arik also previously served as VP R&D and established the Israeli innovation center of Landesk (currently named Ivanti). Arik earned both his BSc in Computer Science and Economics and MBA from Bar-Ilan University.
Roee Peled is a proven business development and sales executive, specializing in identifying and opening new sectors and geographic markets in the IoT, 3D/LiDAR, Cybersecurity and Machine/Deep Learning industries. He has overseen transactions in multi-disciplined and complex B2B sales processes (SaaS/Capex-Opex) and has deep technical knowledge in hardware and software.
Prior to joining ScoutCam, Roee held senior business development and sales positions with PointGrab, imVision Mantis Vision and Orckit Systems, and comAbility Ltd. He earned his BSc in Electrical Engineering from Tel-Aviv University and an MBA from Bar Ilan University.
“ScoutCam develops novel, state-of-the-art products in the I4.0 domain – focusing on Condition Based Monitoring (CBM) and Predictive Maintenance (PdM) for a variety of sectors (Aviation, Energy and Automotive), and as we continue to advance our visualization solutions, the universe of potential applications expands. To strengthen our leadership position in the market it’s important that we assemble a team with the experience and expertise to not only meet that demand but recognize new areas worth pursuing. The addition of Arik to our team in a leadership role will strengthen our ability to innovate for Industry 4.0. Arik’s role will be to help build and transform ScoutCam’s products to be more software based, while Roee’s focus will be introducing our solutions to new customers within our existing markets as well as identifying applications in new sectors, and in addition assisting in pivoting ScoutCam’s business model to a recurring revenue model,” said Yovav Sameah, Chief Executive Officer of ScoutCam.
About ScoutCam
ScoutCam is a leading provider of image-based platforms. Pioneering the use of its proprietary visualization technology, ScoutCam offers state-of-the-art solutions across a variety of Predictive Maintenance and Condition Based Monitoring markets, thus paving the way for the energy, automotive and aviation industries. ScoutCam’s solutions are based on small and highly resilient cameras, specialized AI analysis and supplementary technologies.
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 of the appointments of Mr. Arik Priel and Mr. Roee Peled will have on our business and operations, including our ability to innovate and better penetrate the Industry 4.0 sector, and our ability to identify new markets and successfully implement a recurring revenue business model; the Company’s ability to effectively maximize the skills and contributions of Mr. Arik Priel and Mr. Roee Peled; the ability of each of Mr. Arik Priel and Mr. Roee Peled to help the Company secure opportunities in the sectors described in this news release; 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.
For more information, please visit https://www.scoutcam.com.
Contact: Tanya Yosef, CFO - +972 (73) 370 469
FAQ
What recent leadership changes occurred at ScoutCam (SCTC)?
What is the focus of ScoutCam's expansion strategy?
How will the new leadership affect ScoutCam (SCTC)?
What sectors will ScoutCam (SCTC) target with the new strategy?
How does ScoutCam (SCTC) plan to change its business model?
