Armchair Trader pick Perimeter Medical Imaging AI [TSXV: PINK] has announced that Jeremy Sobotta has resigned as Chief Executive, effective June 15, 2023, for personal reasons. Perimeter has also confirmed that the board of directors has appointed Adrian Mendes as CEO, effective immediately.
Perimeter said Sobotta will work closely with Mendes over the coming weeks to ensure a smooth transition of responsibilities.
Mendes is an experienced technology executive with 25 years of experience building and scaling technology companies across many different industries. Most recently, he was the COO at Groq Inc, an AI hardware company, which he joined shortly after formation in 2016 and helped scale to one of the leading start-ups in that space.
Sobotta himself has a background in the medical technology sector, having previously held senior finance roles at Smith & Nephew and Stryker.
Who are Perimeter Medical Imaging?
Perimeter Medical Imaging operates out of Canada and Texas, specialising in the development of ultra-high-resolution, real-time advanced imaging tools for cancer surgeons. It helps doctors to analyse their own surgery on cancer patients while they are still on the operating table, with the scope to radically reduce the need to perform follow up operations.
Currently the technology is on trial in a small number of US hospitals, and has received a $7.4m grant from Cancer Prevention and Research Institute of Texas.
Mendes joins Perimeter Medical Imaging as it moves towards execution on commercial placements of an S-Series with continued advancement of its AI-enabled B-Series.
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Chamath Palihapitiya, CEO and Founder of Social Capital and Perimeter’s largest shareholder, commented: “We’re excited to be bringing Adrian to the Perimeter team and believe he has the operational expertise necessary to rapidly move the company forward. Adrian has spent his career focused on successfully commercialising AI-enabled hardware across a number of industries and has the right mix of skills to accelerate the adoption of both the company’s S-Series OCT technology and the forthcoming AI-enabled B-Series. We remain committed to Perimeter’s long-term vision of improving cancer outcomes for patients and are excited about the company’s next chapter under Adrian’s leadership.”
It appears that Palihapitiya is getting more involved with the company as sales are ramping up and its artificial intelligence initiatives are gaining traction as well. The Canadian-American was a senior executive at Facebook before he founded Social Capital, a venture capital partnership which has also backed ventures like Yammer and Slack.
Perimeter also announced that Josh Vose has been appointed to its board of directors, effective immediately. Vose is an experienced medical device executive and corporate director with a longstanding history in scaling novel surgical technologies, and particularly in breast oncology and reconstruction. Most recently, Vose served as CEO and board director at SIA Health, leading the company through its Series B financing, the commercial growth of DuraSorb, and acquisition by Integra Life Sciences.
