WINTER SPRINGS, Fla., Jan. 07, 2020 — IRADIMED CORPORATION (NASDAQ: IRMD) announced the retirement of Brent Johnson, Executive Vice President of Worldwide Sales and Marketing, effective April 10, 2020 after leading the Company’s commercial efforts since 2012. IRADIMED appointed MaryBeth Smith as Vice President of Worldwide Sales, succeeding Mr. Johnson, effective January 20, 2020. Ms. Smith will report to Leslie McDonnell, President and Chief Executive Officer.
“Under Brent’s leadership, IRADIMED achieved compound annual sales growth of 26% by significantly expanding its U.S. sales force and international distributor network and entering new markets. We would like to congratulate Brent on his retirement and thank him for his many contributions and commitment to a successful transition,” said McDonnell.
“MaryBeth has a strong track record of delivering sales growth, customer retention and market expansion. I am confident MaryBeth will do a fantastic job of building upon our past success and helping lead the Company into the future. We are excited to add her to the executive team,” said McDonnell.
About MaryBeth Smith
Ms. Smith has extensive commercial experience with medical technology products. Prior to her appointment at IRADIMED, Ms. Smith spent more than 20 years at Natus Medical, Inc., most recently as the Vice President of Sales and Sales Operations for newborn care products. Prior to that, Ms. Smith held a number of leadership and operational roles at Natus where she successfully introduced and established new products as a standard of care. Ms. Smith earned a Bachelor of Science in Nursing from Viterbo University.
About IRADIMED CORPORATION
IRADIMED CORPORATION is a leader in the development of innovative magnetic resonance imaging (“MRI”) compatible medical devices. We are the only known provider of a non-magnetic intravenous (“IV”) infusion pump system that is specifically designed to be safe for use during MRI procedures. We were the first to develop an infusion delivery system that largely eliminates many of the dangers and problems present during MRI procedures. Standard infusion pumps contain magnetic and electronic components which can create radio frequency interference and are dangerous to operate in the presence of the powerful magnet that drives an MRI system. Our patented MRidium® MRI compatible IV infusion pump system has been designed with a non-magnetic ultrasonic motor, uniquely designed non-ferrous parts and other special features to safely and predictably deliver anesthesia and other IV fluids during various MRI procedures. Our pump solution provides a seamless approach that enables accurate, safe and dependable fluid delivery before, during and after an MRI scan, which is important to critically-ill patients who cannot be removed from their vital medications, and children and infants who must generally be sedated to remain immobile during an MRI scan.
Our 3880 MRI compatible patient vital signs monitoring system has been designed with non-magnetic components and other special features to safely and accurately monitor a patient’s vital signs during various MRI procedures. The IRADIMED 3880 system operates dependably in magnetic fields up to 30,000 gauss, which means it can operate virtually anywhere in the MRI scanner room. The IRADIMED 3880 has a compact, lightweight design allowing it to travel with the patient from their critical care unit, to the MRI and back, resulting in increased patient safety through uninterrupted vital signs monitoring and decreasing the amount of time critically ill patients are away from critical care units. The features of the IRADIMED 3880 include: wireless ECG with dynamic gradient filtering; wireless SpO2 using Masimo® algorithms; non-magnetic respiratory CO2; non-invasive blood pressure; invasive blood pressure; patient temperature, and; optional advanced multi-gas anesthetic agent unit featuring continuous Minimum Alveolar Concentration measurements. The IRADIMED 3880 MRI compatible patient vital signs monitoring system has an easy-to-use design and allows for the effective communication of patient vital signs information to clinicians.
For more information please visit www.iradimed.com.
This press release contains forward-looking statements as defined in the Private Securities Litigation Act of 1995, particularly statements regarding our expectations, beliefs, plans, intentions, future operations, financial condition and prospects, and business strategies. These statements relate to future events or our future financial performance or condition and involve unknown risks, uncertainties and other factors that could cause our actual results, level of activity, performance or achievement to differ materially from those expressed or implied by these forward-looking statements. The risks and uncertainties referred to above include, but are not limited to, risks associated with the Company’s ability to receive an EC Certificate or CE Mark for our existing products, receive FDA 510(k) clearance for new products; unexpected costs, delays or diversion of management’s attention associated with the design, manufacture or sale of new products; the Company’s ability to implement successful sales techniques for existing and future products and evaluate the effectiveness of its sales techniques; additional actions, warnings or requests from the FDA; our significant reliance on a single product; potential disruptions in our limited supply chain for our products; a reduction in international distribution; actions of the FDA or other regulatory bodies that could delay, limit or suspend product development, manufacturing or sales; the effect of recalls, patient adverse events or deaths on our business; difficulties or delays in the development, production, manufacturing and marketing of new or existing products and services; changes in laws and regulations or in the interpretation or application of laws or regulations.
Further information on these and other factors that could affect the Company’s financial results is included in filings we make with the Securities and Exchange Commission from time to time. All forward-looking statements are based on information available to us on the date hereof, and we assume no obligation to update forward-looking statements.
Media Contact: Chris Scott Chief Financial Officer IRADIMED CORPORATION (407) 677-8022 [email protected]