Butterfly Network Names Laurent Faracci as Chief Executive Officer
The world's first whole-body portable ultrasound continues its rapid expansion and distribution around the world while also showing significant clinical utility in fighting the COVID-19 pandemic
GUILFORD, Conn., March 26, 2020 /PRNewswire/ -- Butterfly Network, the company helping to transform healthcare with its disruptive, ultrasound-on-chip™ technology, has named Laurent Faracci as CEO.
Faracci joins the med-tech company as it looks to accelerate its growth, embark on a new era of global scale for its point-of-care whole body ultrasound solution, and now to rapidly help the healthcare community combat the spread and impact of COVID-19.
"As the world moves quickly to find ways to manage the COVID-19 crisis, it has become clear that the impact potential and disruptive force of our technology is even greater than initially predicted," said founder and Chairman of the Board, Dr. Jonathan Rothberg. "We have been presented with a chance to help humankind at this critical moment by providing tools to healthcare practitioners on the frontlines. Laurent is the perfect leader to guide the business through this critical moment, and to help us continue to transform how healthcare is delivered around the world."
"We find ourselves at a moment in time where the clinical utility of and necessity for mobile lung ultrasound is perhaps more important than ever before. Our Butterfly iQ point-of-care ultrasound device is proving to be a powerful weapon and is starting to be used widely in the fight against COVID-19," said Faracci, who officially joins as CEO on April 1. "Our state-of-the-art ultrasound technology helps triage patients by assessing the severity of disease in those experiencing symptoms to ensure the hospital systems and testing facilities aren't overwhelmed. It is also being used to monitor disease progression for patients who are receiving treatment or quarantined in homes, temporary hospitals and urgent care facilities."
Faracci joins Butterfly after more than 20 years with Reckitt Benckiser. As Executive Vice President, he was instrumental in scaling the company's global consumer health business. Faracci brings a wealth of knowledge in the healthcare space and a track record of multi-billion-dollar global market entry and growth.
In just one year since its commercial launch, Butterfly has become a leader in handheld ultrasound and is currently used by over 15,000 healthcare practitioners globally. To date, the company has raised more than $350 million of capital from leading investors, including Fidelity, Fosun Pharma and the Gates Foundation. In partnership with the Gates Foundation, Butterfly is committed to delivering its life-saving technology to the lowest resource countries in the world.
Present commercially in 19 markets already, Butterfly Network has plans to launch in additional markets, continue to enhance its leading-edge software, telemedicine and AI platform, and, in time, enable patient-monitoring. Above all else, the company remains steadfast in its commitment to bringing medical imaging to the 4.7 billion people who currently lack access.
"Thanks to Butterfly's unique combination of mobile, telemedicine and AI technology, we are not only arming healthcare practitioners with increased speed of medical insights at the bedside, we are also giving first-time access to imaging in low resource settings," added Faracci. "The opportunity to lead this incredible team is a very exciting challenge. I look forward to building on Jonathan Rothberg's inspiring vision and purpose to transform medical imaging for all."
For more information on Butterfly's COVID-19 resources, including how lung ultrasound can make a difference, visit: https://www.butterflynetwork.com/covid-19.
About Butterfly Network
Founded by Dr. Jonathan Rothberg in 2011, Butterfly Network has created the world's first handheld, single-probe whole body ultrasound system, Butterfly iQ, making ultrasound technology universally accessible and affordable. Butterfly Network's mission is to democratize healthcare for the 4.7 billion people around the world lacking access to medical imaging. Through their patented Ultrasound-On-Chip™ technology, Butterfly Network is paving the way for earlier detection and remote management of health conditions around the world.
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SOURCE Butterfly Network