ChroMedX Corp. Expands Executive Team;
Lahav Gil Appointed CEO and Director
January 05, 2018 – ChroMedX Corp. (the “Company”) (CSE: CHX, OTC: CHXIF, Frankfurt: EIY2), developer of the HemoPalm Handheld Blood Analyzer System, is pleased to announce the appointments of MedTech visionary Lahav Gil as Chief Executive Officer and W. Clark Kent as President of the Company. Both have also been appointed to the Company’s board of directors.
Mr. Gil joins ChroMedX as the founder and former CEO of the innovative Toronto-based medical device industrial design and productization organization, Kangaroo Group (ISO 13485). Lahav founded the company in 2003 and evolved it into a full-spectrum outsourcing platform for Medical Device innovation, engineering, design, productization, RA submissions and contract manufacturing, contributing to many product launches in the Canadian and international MedTech industry. Kangaroo was acquired by full service medical device design company Starfish Medical in April of 2017.
“Lahav’s achievements speak for themselves but his energy, vision and passion for design and development is something truly remarkable.” said Gerard Edwards, Executive Chairman, ChroMedX Corp. “This appointment is an exciting milestone in a plan that the board of directors have been working on for quite sometime. We are proud to appoint Lahav as CEO and welcome him to the board of directors.”
Lahav is well known in the community for his strong team building abilities and emphasis on innovation culture, as well as his track record as a MedTech entrepreneur, design-driven innovator, and business leader.
“With the HemoPalm, ChroMedx is well positioned to bring a remarkable and critically needed product to market.” said Lahav Gil, CEO & Director, ChroMedX Corp. “Successful commercializing of a medical device relies on a deep and profound understanding of the problems that you are trying to solve at all levels of the product and business offering. Critically understanding the requirements of all the stakeholders including those leading to a strategic acquisition are key to this success, as well as designing for frictionless adoption models, a superior user experience, and a robust supply chain. It is essential to build a team and corporate culture that intuitively and strategically understands these concepts and loves working together on meaningful innovation and I am very excited to join ChroMedX and lead this process.”
W. Clark Kent has been appointed President and joined the ChroMedX board of directors. Clark is a capital markets professional with extensive experience leading corporate development and finance initiatives in the life sciences, technology and natural resource industries. For over a decade he has advised emerging companies on strategic planning, finance and recruitment in the North American and international marketplace.
“As a long-time supporter and consultant Clark has been instrumental in the advancement of ChroMedX and the HemoPalm technology.” said Gerard Edwards, Executive Chairman, ChroMedX Corp. “Clark has most recently been responsible for the Company’s partnership with DxEconomix and introduction to Lahav Gil. We are very pleased to now welcome him as a director and fulltime member of the team as ChroMedX President.”
With the appointments of Mr. Gil and Mr. Kent, Ash Kaushal will step down from his President, CEO and Director roles. Mr. Kaushal joined the Company as President and CEO in July 2016 after serving as a key consultant since the Company’s inception. The ChroMedX board of directors would like to thank Ash for his contributions and leadership in 2017. Mr. Kaushal will continue to work with the Company on a consulting basis.
With these appointments ChroMedX has increased its board to 6 directors. Further information on the Company’s executive team, board of directors and key advisors can be found at www.chromedx.com
About Lahav Gil
Lahav is the founder and former CEO of the Toronto based Kangaroo Group, which he built into a national brand and recently sold to Starﬁsh Medical of Vancouver Island. He is passionate about meaning, loves Innovation Culture, Values-Based Leadership, transparency & awareness.
Lahav has deep experience in Medtech product development and business. He has founded/co-founded 6 companies and has accompanied many Canadian start-ups on their journey from napkin to launch, critically contributing to their investability, clinical and market readiness. He has contributed to over 200 technology product launches and to game-changing innovations for companies such as: IMRIS, FIO, fSona, Cellaegis, XOR, Ultrasonix, Exact Imaging, Sciex, and others.
For almost 3 decades, he has been involved with tech-innovation, entrepreneurship, and start-up companies, starting in Israel’s bustling innovation climate of the 80's. During the late 90's Lahav integrated into the Canadian innovation scene, leading Industrial Design projects and corporate-wide iD strategy for Creo/Kodak in Vancouver, where he ﬁrst got a taste of the crucial role of culture in business. In 2003 he founded Kangaroo Design, which he evolved into the Kangaroo Group (ISO 13485), a full-spectrum outsourcing platform for Medical Devices innovation, engineering, design, productization, RA submissions and contract manufacturing.
Under his leadership, Kangaroo supplied services, infrastructure, and incubation partnerships to Canadian Medtech startups and entrepreneurs for over 15 years. During this time, Lahav’s main focus was building Kangaroo as a platform alongside spin-ins, spin-outs & incubation-investments.
ChroMedX most recently announced the signing of a definitive agreement with diagnostics marketing experts DxEconomix to lead initiatives relating to potential high-value transactions. Further information can be found on the Company’s website.
Investors and individuals interested in keeping abreast of latest news and updates can subscribe on the Home and News pages on the Company's website at www.ChroMedX.com
About ChroMedX Corp.
ChroMedX Corp. is a medical technology company focused on the development of novel medical devices for in vitro diagnostics and point-of-care testing. The devices are protected by the Company’s issued and pending patents, dealing with blood collection, analysis and plasma/serum processing.
The HemoPalm Handheld Blood Analyzer System is the only handheld blood analysis technology which combines Blood Gases & Electrolytes with full CO-oximetry. Currently this combination is not available on any of the handheld analyzers on the market. Existing technologies require users to purchase a second device to carry out the CO-oximetry. The Company’s technology has the advantage of being able to offer a single handheld blood analyzer that provides all the required tests for Blood Gases & Electrolytes, with full CO-oximetry and bilirubin. Another competitive advantage of the HemoPalm system will be its ability to draw capillary blood directly from a pin-prick site into the cartridge, providing an alternative to arterial blood. Drawing arterial blood is painful and can cause nerve damage. CO-oximetry is the measurement of five different hemoglobin species in blood.
The global market for Blood Gases & Electrolytes was estimated to be 1.5 Billion $US in 2015 and is projected to reach over 1.8 Billion by 2020.
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Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com