ImpediMed (ASX:IPD) appoints Richard Valencia as MD and CEO

• ImpediMed (IPD) appoints Richard Valencia as its Managing Director and CEO, effective December 1
• Current interim CEO David Anderson will continue to support the company to help ensure a smooth transition of leadership
• Mr Valencia has 30 years of leadership experience in the healthcare and technology industries and has held executive positions in companies such as WaveForm Diabetes
• He will receive a salary of US$450,000 per annum with no fixed term to his position
• Shares in ImpediMed are down 1.08 per cent, trading at 9.2 cents at 3:08 pm AEDT

ImpediMed (IPD) has appointed Richard Valencia as its Managing Director and CEO, effective December 1.

Current interim CEO David Anderson will continue to support the company upon Mr Valencia’s appointment and help to ensure a smooth transition of leadership.

With over 30 years of leadership roles in the healthcare and technology industries, Mr Valencia is experienced in building management teams to implement change in service delivery to a broad customer base.

Mr Valencia was previously interim Chair and CEO of WaveForm Diabetes, after being a board member at Tandem Diabetes Care which experienced a significant increase in market during Mr Valencia’s tenure.

He is currently the Chair of software company, CareAlign, which provides a patient management tool for clinicians. He’s also Co-Vice Chair of CONNECT, a non-profit organisation providing entrepreneurial mentorship in San Diego.

The incoming MD and CEO called it a “privilege” to take on the role for a business “with such a compelling purpose and exciting future”.

“Accessibility to the SOZO digital health platform is more important than ever and the future opportunity to monetise the patient testing data will eventually create an entirely new market segment for the company,” Mr Valencia said.

ImpediMed’s SOZO platform is a non-invasive device which can deliver a quick and precise snapshot of fluid status and tissue composition in a patient with lymphoedema.

“I take pride in my history of developing exceptional talent and building a strong, mission-driven corporate culture,” Mr Valencia added.

As part of his remuneration package, Mr Valencia will receive a salary of US$450,000 (A$671,215) per annum with no fixed term to his position.

Shares in ImpediMed were down 1.08 per cent, trading at 9.2 cents at 3:08 pm AEDT.