Movano Health Welcomes Dr. Shaheen Wirk to its Board of Directors

Rhea-AI Summary

Movano Health (Nasdaq: MOVE) has appointed Dr. Shaheen Wirk to its Board of Directors. Dr. Wirk brings over 20 years of investment experience in life science companies and is the founder and Chief Investment Officer of Palkon Capital Management. This appointment follows Movano's recent FDA 510(k) clearance for the pulse oximeter in its EvieMED Ring.

The FDA clearance positions Movano to pursue multi-billion dollar opportunities in health monitoring solutions, particularly in clinical trials, post-clinical trial management, and remote patient monitoring. The company's first product, the Evie Ring wellness device, is currently available in the market through eviering.com.

Dr. Wirk's extensive background includes founding Blue Cotinga advisory firm and serving on boards including Tvardi Therapeutics. He holds M.D., M.B.A., and B.S. degrees from Duke University and completed research training in oncology and trauma surgery at prestigious institutions.

Positive

• Recent FDA 510(k) clearance for EvieMED Ring's pulse oximeter
• Access to multi-billion dollar market opportunities in health monitoring
• Addition of board member with 20+ years of healthcare investment experience

Negative

• None.

PLEASANTON, Calif., Jan. 2, 2025 /PRNewswire/ -- Movano Health (Nasdaq: MOVE), a pioneer in health technology, today announced the expansion of its board of directors with the addition of Dr. Shaheen Wirk, a leader in healthcare dedicated investment with a track record of success in medicine, partnerships, and research.

With over 20 years of investment experience in public and private life science companies, Dr. Wirk is the founder and Chief Investment Officer of Palkon Capital Management, a healthcare dedicated investment firm launched in partnership with Julian Robertson and Tiger Management. Formerly, Dr. Wirk was a senior analyst at Bridger Capital. He is the founder of the advisory firm Blue Cotinga and was an early employee at MercuryMD, which was successfully acquired by the Thomson Corp. He currently serves on several boards and associations including Tvardi Therapeutics and the Duke University School of Medicine's Medical Alumni Council, the leadership group for the Medical Alumni Association.

"It's an exciting time for Movano in driving healthcare innovation, and they are on the cusp of transforming the delivery of healthcare data," said Dr. Wirk. "The recent FDA approval of the EvieMED Ring allows Movano and its partners to remotely and accurately collect patient-specific key data while enabling more robust clinical development programs and the realization of remote patient monitoring solutions. I am honored to collaborate with Movano to achieve these goals."

Movano Health announced last month that it had received U.S. Food and Drug Administration (FDA) 510(k) clearance for the pulse oximeter in its EvieMED Ring.  The clearance enables Movano Health to pursue multi-billion dollar business opportunities for health monitoring solutions needed for applications such as clinical trials, post-clinical trial management, and remote patient monitoring for both healthcare providers and payors. The company's first product, the Evie Ring wellness device, is currently in market and sold through www.eviering.com.

"We are at a critical juncture in the evolution of our organization as we continue to innovate at the intersection of consumer wearable and medical device," said John Mastrototaro, President and CEO of Movano Health. "Dr. Wirk is a visionary in the healthcare space and has a wealth of investment experience with both private and public companies and we're excited to have him join the Movano Board of Directors."

Dr. Wirk completed research training programs in oncology and trauma surgery at the University of Texas MD Anderson Cancer Center, Rabin Medical Center through the National Institutes of Health Fogarty International Center, and Duke University Medical Center. Dr. Wirk earned his M.D., M.B.A., and B.S. degrees from Duke University.

About Movano Health
Founded in 2018, Movano Inc. (Nasdaq: MOVE) dba Movano Health is developing a suite of purpose-driven healthcare solutions to bring medical-grade data to the forefront of wearables. Featuring modern and flexible form factors, Movano Health's devices offer an innovative approach to delivering trusted data to both customers and enterprises, capturing a comprehensive picture of an individual's health data and uniquely translating it into personalized and intelligent insights.

Movano Health's proprietary technologies and wearable medical device solutions will soon enable the use of data as a tool to proactively monitor and manage health outcomes across a number of patient populations that exist in healthcare. For more information on Movano Health, visit https://movanohealth.com/.

Forward Looking Statements
This press release contains forward-looking statements concerning our expectations, anticipations, intentions, beliefs, or strategies regarding the future. These forward-looking statements are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions, and events to differ materially from those anticipated. Therefore, you should not place undue reliance on forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding plans with respect to the commercial launches of the Evie Ring and EvieMED; our expectations regarding potential commercial opportunities; planned cost-cutting initiatives; anticipated FDA clearance decisions with respect to our products; expected future operating results; product development and features, product releases, clinical trials and regulatory initiatives; our strategies, positioning and expectations for future events or performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, and in our other reports filed with the Securities and Exchange Commission, including under the caption "Risk Factors."  Any forward-looking statement in this release speaks only as of the date of this release. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

 

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SOURCE Movano

FAQ

What is the significance of Movano Health's (MOVE) recent FDA clearance for the EvieMED Ring?

The FDA 510(k) clearance for the EvieMED Ring's pulse oximeter enables Movano Health to pursue multi-billion dollar opportunities in health monitoring solutions, including clinical trials, post-trial management, and remote patient monitoring.

How will Dr. Shaheen Wirk's appointment impact Movano Health (MOVE)?

Dr. Wirk brings over 20 years of healthcare investment experience and expertise in medicine, partnerships, and research, which will support Movano's growth at the intersection of consumer wearables and medical devices.

What are the current products offered by Movano Health (MOVE)?

Movano Health currently offers two products: the Evie Ring wellness device, available through eviering.com, and the FDA-cleared EvieMED Ring with pulse oximeter functionality.

What market opportunities does Movano Health (MOVE) target with the EvieMED Ring?

The EvieMED Ring targets opportunities in clinical trials, post-clinical trial management, and remote patient monitoring solutions for both healthcare providers and payors.