HeartBeam (BEAT) Appoints Timothy Cruickshank as CFO

HeartBeam, Inc. (NASDAQ: BEAT), a medical technology company focused on transforming cardiac care by providing powerful cardiac insights wherever the patient is, announced the appointment of Timothy Cruickshank as Chief Financial Officer (CFO), effective immediately. Mr. Cruickshank brings more than 15 years of public company experience with a focus on growing businesses with disruptive technologies through authentic leadership, strategic focus, data-driven decisions, and strong risk management and governance. He succeeds long-time CFO Richard Brounstein, who has been serving in an advisory capacity since retiring in February.

“Tim has an outstanding record of delivering results and creating value and will be a strong partner in ensuring we have a solid financial position as we strive to make our vision to transform the monitoring and detection of cardiac conditions a reality,” said Branislav Vajdic, PhD, Chief Executive Officer and Founder of HeartBeam. “We thank Rick for his leadership over the past 9 years as he worked tirelessly to establish the strong financial foundation for the company which will continue to serve us well moving forward.”

HeartBeam has developed a cable-free, credit card-sized device that captures the heart’s electrical signals from three dimensions and is designed to be capable of synthesizing a 12-lead ECG. The Company’s first 510(k) submission for its proprietary technology is currently under review with the FDA and is the cornerstone submission upon which future submissions will be based. The Company has 13 issued US patents and 4 issued international patents supporting the underlying technology.

“The ability of HeartBeam’s unique technology to unlock actionable heart intelligence from three dimensions for a range of cardiac conditions is truly compelling to me,” said Mr. Cruickshank. “I am excited to join the Company at this pivotal time and look forward to working with the team to commercialize this impactful innovation, drive financial excellence and expand our impact to ultimately improving cardiac care for patients.”

Mr. Cruickshank, age 43, was a financial executive of ImpediMed since 2008 and served as CFO from October 2019 through March 2024. ImpediMed is a medical technology company that designs and manufactures medical devices and software services employing its pioneering bioimpedance spectroscopy (BIS) technology for multiple indications including heart failure, protein calorie malnutrition, and lymphedema within oncology. During Mr. Cruickshank’s time at ImpediMed, he spearheaded the evolution of the company from a traditional medical device company to a medical technology company with a high margin Software-as-a-Service (SaaS) business model, through the launch of the SOZO® Digital Health Platform. He received a Master of Business Administration from Keller Graduate School of Management and a Bachelor of Science in Accounting from Syracuse University.

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