QT Imaging Holdings names Dr. Raluca Dinu as Acting Chief Executive Officer and Anastas Budagov as Chief Financial Officer
March 18 2024 - 4:00PM
Business Wire
QT Imaging Holdings, Inc. (NASDAQ:QTI) a medical device company
engaged in research, development, and commercialization of
innovative body imaging systems, today announced that the Board of
Directors has appointed former GigCapital5, Inc. CEO Dr. Raluca
Dinu as Active Chief Executive Officer and member of the Board of
Directors, effective March 12, 2024. Dr. Dinu will serve in this
position for one year, when the Company will reevaluate this
strategic position. Dr. John Klock will step down as Chief
Executive Officer, but will remain part of the Board of Directors,
transitioning to serve as a Company advisor. As previously
announced, Anastas (Stas) Budagov will take the position of Chief
Financial Officer.
Dr. Dinu served as a senior executive in small and large size
public companies, has a global, operationally focused business
background, public company governance experience, delivered strong
results in turnaround and M&A situations, lead strategic
growth, and consolidation in fast-paced business environments. Dr.
Raluca Dinu is on the board of numerous public traded companies and
philanthropic organizations and has co-founded five
Private-to-Public Equity (PPE) companies, which acquire late-stage
private companies for the purpose of taking them public on their
continuous growth journey.
“Raluca has an impressive record of turnaround, global
operations, and public company governance. She has extensive
M&A experience, deep product experience in regulated and
unregulated industries, and has implemented innovative and
collaborative workplace environments. QTI is playing a vital role
in the development of advanced, accurate, non-invasive body
scanning technology, and with Raluca at the helm, the Company will
transition to a solid public company, technology-led, leader in
medical imaging,” said Dr. Avi Katz, Chairman of the QT Imaging
Holdings, Inc. Board of Directors.
Mr. Budagov has deep accounting, audit processes, internal
controls, and commercial contracts experience, in private and
public companies. Mr. Budagov served as a contracting Chief
Financial Officer with QT Imaging, Inc. since December 2023 and
accepted a permanent full-time job with the public company.
About QT Imaging Holdings, Inc.
QT Imaging Holdings, Inc. is a public (NASDAQ: QTI) medical
device company engaged in research, development, and
commercialization of innovative body imaging systems using low
frequency sound waves. QT Imaging Holdings, Inc. strives to improve
global health outcomes. Its strategy is predicated upon the fact
that medical imaging is critical to the detection, diagnosis, and
treatment of disease and that it should be safe, affordable,
accessible, and centered on the patient’s experience. For more
information on QT Imaging Holdings, Inc., please visit the
company’s website at www.qtimaging.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such statements contain words such as “will,” and
“expect,” or the negative thereof or comparable terminology, and
include (without limitation) statements regarding the QTI Breast
Acoustic CT™ System and its use in the research collaboration and
images that may be rendered as part of this research, plans for QT
Imaging Holdings, new product development and introduction, and
product sales growth and projected revenues. Forward-looking
statements involve certain risks and uncertainties, and actual
results may differ materially from those discussed in any such
statement. These risks include, but are not limited to: the ability
of the parties to sell and deploy the QTI Breast Acoustic CT™
System, the ability to extend product offerings into new areas or
products, the ability to commercialize technology, unexpected
occurrences that deter the full documentation and “bring to market”
plan for products, trends and fluctuations in the industry, changes
in demand and purchasing volume of customers, unpredictability of
suppliers, the ability to attract and retain qualified personnel
and the ability to move product sales to production levels.
Additional factors that could cause actual results to differ are
discussed under the heading “Risk Factors” and in other sections of
QT Imaging’s (and its predecessor, GigCapital5, Inc.) filings with
the SEC, and in its other current and periodic reports filed or
furnished from time to time with the SEC. All forward-looking
statements in this press release are made as of the date hereof,
based on information available to QT Imaging Holdings as of the
date hereof, and QT Imaging Holdings assumes no obligation to
update any forward-looking statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20240318144834/en/
Stas Budagov Chief Financial Officer
Stas.Budagov@qtimaging.com
QT Imaging (NASDAQ:QTI)
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