Kelyniam Settles Arbitration, Adds Executives
CANTON, Conn., May 7, 2020 /PRNewswire/ -- Kelyniam Global (KLYG), a maker of custom craniomaxilofacial (CMF) implants, announced today that the company has reached a settlement agreement with the former CEO and has added two members to the senior executive team.
The settlement agreement was completed in early Q1. Terms of the settlement agreement are not subject to disclosure.
Kelyniam has added two senior Executives to its team in the first quarter. Terrance Kurtenbach, a retired 25-year partner at Deloitte has joined the company as Chief Financial Officer. Mr. Kurtenbach has extensive life sciences company experience and was previously the head of Deloitte's Global Life Sciences tax practice, assisting Medical Device, Bio-tech and Pharmaceutical life sciences companies across the world. In addition, Mr. Kurtenbach has been nominated to the Board of Directors.
Mr. James Barrow Esq. joined the company as Director of Quality and Regulatory in March and will also serve as General Counsel. Mr. Barrow has more than 35 years of experience in the Medical Device, Pharmaceutical, and Diagnostics industries, holding leadership roles in Quality, Regulatory and Clinical Development.
"The ability to attract experienced, high performing employees is the hallmark of successful companies," said Kelyniam's CEO, Ross Bjella. "Both Terry and Jim joined Kelyniam because of the tremendous potential of our technology and the sales momentum we have created in the last two years. In his short time with the company, Terry has made a significant impact on our strategic and financial positions and I know he will be an excellent Board member. The breadth and depth of Jim's experience in medical devices is exactly what Kelyniam needs as we expand our surgical product line."
About Kelyniam
Kelyniam Inc., specializes in the rapid production of custom prosthetics utilizing computer aided design and computer aided manufacturing of advanced medical grade polymers. The Company develops, manufactures, and distributes custom cranial and craniomaxilofacial (CMF) implants maxillo-facial implants for patients requiring the reconstruction of cranial and certain facial structures. Kelyniam works directly with surgeons, health systems and payors to improve clinical and cost-of-care outcomes. Kelyniam's web site address is www.Kelyniam.com.
As a cautionary note to investors, certain matters discussed in this press release are forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the Company's ability to execute its service and product sales plans; changes in the status of ability to market products; and the risks described from time to time in the Company's SEC reports.
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SOURCE Kelyniam Global, Inc.