Dignitana, Inc. Appoints Three Board Members in U.S. And Names James McKinney President and Chief Operating Officer
Lund, Sweden - 9 March 2018 - Dignitana AB, world leader in medical scalp cooling technology, today announced the appointment of Anette Cronström, Thomas Joyce and Thomas Kelly to the Board of Directors for Dignitana, Inc., which governs operations in the U.S. and met this week in Dallas, Texas
Also announced is the promotion of James McKinney who will now serve as President and Chief Operating Officer of Dignitana, Inc.. McKinney has been the company's Chief Operating Officer since November 2016.
"We are honored to bring these experienced leaders onto the Dignitana, Inc. Board here in the U.S.," said William Cronin, CEO of Dignitana AB. "Their proven strengths and long-standing expertise, especially in the finance of both domestic and international business, will be a tremendous asset to our continued growth and development. The addition of these accomplished professionals with the newly announced changes to the AB Board bring to Dignitana a global governance structure cthat will help this company move into its next and most important phase of growth"
"Jim McKinney's leadership and healthcare experience have brought enormous value to Dignitana since he joined us in 2016," Cronin adds. "As we continue to expand and introduce new innovations to the market we are enormously fortunate to have his operational insights and wisdom guiding our team."
"Dignitana, Inc. has seen exponential growth in the last two years," said James McKinney, President and COO of Dignitana, Inc. "The size and strength of our U.S. team continues to increase as we respond to the needs of our clinical partners, and we are excited to be moving forward with the addition of these accomplished business leaders to our Board."
Anette Cronström, Board Member
Since 2016 Anette Cronström has served as the Director of International Accounting for GameStop Inc., a Fortune 500 company containing specialty retail brands that make the most popular technologies affordable and simple. Previous positions held at GameStop Inc. include Director of Global Internal Audit and Compliance and Director of International Audit and Compliance. Prior to joining GameStop Inc., Ms. Cronström served as the Finance Director of GameStop Nordic and as the CFO of ProstaLund Operations AB. She is a graduate of the University of Lund's Business School, where studied Business Administration and Economics.
Thomas Joyce, Board Member
Thomas Joyce is a recognized leader in the financial services industry with experience in domestic and international markets, regulatory reform, trading, technology, and client service. Most recently, Mr. Joyce served as the Executive Chairman of Arxis Capital, a spinout of Bank of America. Prior to Arxis he was Chairman and Chief Executive Officer of Knight Capital Group, from which he retired in July of 2013, and was Head of Global Trading at Sanford C. Bernstein & Co. Mr. Joyce is widely credited for rebuilding Knight into an industry leader, taking the company from less than $500 million in annual revenues and losing money, to approximately $1.2 billion in revenues with $250 million in pre-tax earnings a decade later. Earlier in his career, he spent close to fifteen years at Merrill Lynch where he managed several major equity businesses. Mr. Joyce is most recently a former member of the Securities Industry and Financial Markets Association (SIFMA) Board of Directors as well as a former member of the NASDAQ Board of Directors. He attended Harvard University where he obtained a degree in economics and where he is also a member of the Harvard Varsity Club's Athletics Hall of Fame.
Currently he is on the Board of Directors of Sandboxx, LLC, and Clearpool, Inc. He is also a member of SAG-
Thomas N. Kelly, Board Member
Thomas Kelly serves as Managing Director of KMK & Associates LLC, a private equity firm with a wide range of interests from agriculture to manufacturing. He is also a Director of The Leaders Bank, headquartered in Oak Brook, Illinois. With diverse leadership roles in numerous companies and civic organizations, Mr. Kelly is a trusted and experienced leader known for his ability to anticipate and navigate business challenges with accountability and transparency. He serves on the Boards of the Donald P. and Byrd M. Kelly Foundation, which primarily supports Catholic education in the Chicago area. He attended the University of Kansas in Lawrence, and is an active alumnus serving as member of the KUAA President's Advisory Council.
Current Board Positions include the pending shareholder approval as Chair of Dignitana AB Board of Directors, Managing Member of KMK & Associates LLC, Director of Leaders Bank, Director of Grandstand Sportswear and Glassware, Managing Member of 3840 Greenway Circle LLC, Managing Member of Harger Woods Corporate Center LLC, Managing Member of D.P. Kelly & Associates, Director of Elarasys Worldwide LLC, Vice President of Emerald Air Co., Director of Entrust Services, and former Director of Whitnell & Co., Director of Continental Community Holdings, Director and Secretary of Donald P. and Byrd M. Kelly Foundation.
James O. McKinney, Board Member, President and COO, Dignitana, Inc.
Jim McKinney currently serves as a Healthcare Consultant to Catholic Relief Services and is a Real Estate Investor at McKinney & Hess Properties. Previously he has served as Division CEO of Anesthesia Group, Division President of Iasis Healthcare, President and COO of Leland Medical, Inc., and President and CEO of Brim Healthcare, Inc. A seasoned healthcare executive, he has extensive experience and a proven track record in leadership and operations, including acquisitions, physician relations and partnerships, program design and implementation, financial performance, and system integration.
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About Dignitana AB (publ)
Dignitana is a Swedish public company based in Lund and manufacturer of the medical cooling device DigniCap®. Dignitana AB is listed on Nasdaq First North Stockholm and has appointed Erik Penser Bank as Certified Adviser. Headquartered in Dallas Texas, Dignitana, Inc. is the U.S. subsidiary of Dignitana AB. For more information visit www.dignitana.se and www.dignicap.com
This information is information that Dignitana AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, by the above contact, for publication at 17:30 (CET), 9 March 2018.
Väsentliga händelser under perioden
- Försäljningen under perioden uppgick till 9 022 tkr (1 041 USD), en ökning med 54 procent jämfört med samma period 2017 och en ökning med 51 procent jämfört med första kvartalet 2018.
- EBITDA uppgick till -2 701 tkr, -312 KUSD, en förbättring med 69 procent jämfört med samma period 2017.
- Dignitana ingick sitt första leasingavtal utanför USA - avtalet rör DigniCap-enheter till 3 kliniker i Spanien.
- 9 DigniCap-enheter såldes till vårdinrättningar i länder utanför USA.
- Avtal har ingåtts för 10 DigniCap-enheter på 6 kliniker i USA.
- Behandlingsintäkterna från klinikerna i USA har ökat med 21 procent, jämfört med det första kvartalet 2018.
- Dignitana tar över ansvaret från Sysmex för alla installerade DigniCap-enheter i Europa. Enheterna finns på totalt 70 kliniker i 11 länder.
- Flytten av verksamheten från Lund i Sverige till Dallas i USA var genomförd i april, två månader tidigare än planerat. Dignitana AB:s huvudkontor fortsätter att ha sitt säte i Lund.
- I juni avslog American Medical Association (USA:s läkarförbund) företagets ansökan att få en unik CPT-kod (Current Procedural Terminology) för skalpkylningsenheter. Koden skulle inneburit en förenkling för patienten att få ersättning från försäkringsbolagen. Avsaknaden av en unik CPT-kod har inte haft någon inverkan på Dignitanas försäljning.
- Årets bolagsstämma hölls den 24 april 2018 i Lund. Bolagsstämman beslöt i enlighet med styrelsens förslag på samtliga punkter.
- Thomas Kelly, William Cronin, Ingrid Atteryd Heiman och Mikael Wahlgren omvaldes som styrelseledamöter vid bolagsstämman den 24 april 2018 med Thomas Kelly som styrelseordförande
Results and financial position
Significant events during the period
- Sales for the period amounted to 9,022 TSEK, $1,041 KUSD, an increase of 54 percent compared to the same period in 2017 and a 51 percent increase over the first quarter 2018.
- EBITDA amounted to (2,701) TSEK, ($312 KUSD), a 69 percent improvement compared to the same period in 2017.
- Dignitana initiated its first direct-to-customer leased unit transaction outside of the U.S. for 3 locations in Spain.
- 9 units were sold to facilities in countries outside the U.S.
- Contracts for 6 locations in the U.S. were signed representing 10 machines.
- Treatment revenue from U.S. sites showed a 21 percent increase over first quarter 2018.
- Transfer of management of all European installations of DigniCap from Sysmex to Dignitana representing 70 locations in 11 countries.
- Transition of operations from Lund, Sweden to the U.S. was successfully completed in April, two months ahead of schedule. Dignitana AB headquarters remain in Lund.
- In June the company's application for a unique Current Procedural Terminology (CPT) Code for scalp cooling devices was not approved by the American Medical Association. This code would have helped U.S. patients process insurance claims more simply but does not have any material effect on sales potential at this time.
- The Annual General Meeting was held 24 April 2018 in Lund. In all the proposed cases the AGM resolved in accordance with the Board's proposals.
- Thomas Kelly, William Cronin, Ingrid Atteryd Heiman, and Mikael Wahlgren were re-elected to the Board of Directors at the Annual General Meeting 24 April 2018 with Thomas Kelly as Chairman.
Solid progress and growth
Dignitana AB registrerade idag Dignitana Srl (Società a responsabilità limitata) i Italien. Bolaget är ett helägt dotterbolag till Dignitana AB och kommer att fungera under ledning av Dignitana AB. Registreringen av Dignitana Srl möjliggör för Dignitana att tillhandahålla hårbottenkylning tjänster till sjukvårdsenheter i hela Italien. Härigenom kan Dingitana möta det ökande antalet ansökningar om hårbottenkylning tjänster vid nya medicinska centra. Dignitana kan nu som en konsekvens av registreringen av det italienska dotterbolaget nu också tecknat nya kontrakt avseende tre skalpkylningsmaskiner som nu ska installeras i Italien.
New Subsidiary Registered
Dignitana AB today registered Dignitana S.r.l (Società a responsabilità limitata) as a new entity in Italy. The entity is a wholly-owned subsidiary of Dignitana AB and will function under the leadership of Dignitana AB. The registration of Dignitana S.r.l enables Dignitana to provide scalp cooling services to public health facilities throughout Italy. By doing so, Dignitana can meet the increasing number of requests for scalp cooling at new medical centers. With this registration the company can now finalize contracts for the sale of 3 machines in Italy.
DIGNITANA KOMMENTERAR AMERICAN MEDICAL ASSOCIATION (DET AMERIKANSKA LÄKARFÖRBUNDET) BESLUT ATT INTE INFÖR EN UNIK CPT® CODE FÖR KYLNING AV HÅRBOTTEN
Dignitana AB har ansökt hos American Medical Association (AMA) (Det amerikanska läkarförbundet) om att skapa en unik CPT ®-kod (Current Procedural Terminology kod) som inkluderar kylning av hårbotten vid cytostatikabehandling. Syftet med ansökan var att förenkla processen för patienten i dennes dialog med försäkringsbolag om ersättning för både cytostatikabehandlingen och kylning av hårbotten. Försäkringsskydd för hårbottenkylning är ännu inte standardiserat i USA. De patienter som använder sig av DigniCap-systemet erhåller idag ersättning från försäkringsbolagen för cancerbehandlingskostnaden inklusive kostnaderna för kylning av hårbotten sedan 2015 då DigniCap erhöll sitt FDA-godkännande. Idag har AMA meddelat att de inte avser att införa en unik CPT ®-kod.
DIGNITANA RESPONDS TO AMERICAN MEDICAL ASSOCIATION DECISION REGARDING UNIQUE CPT CODE FOR SCALP COOLING
Lund, Sweden - 19 June 2018 - Dignitana AB, world leader in clinically superior scalp cooling technology, has responded to the announcement made earlier today by the American Medical Association (AMA), on their decision to reject the company's application to create a unique CPT® code for FDA-cleared automatic scalp cooling devices. The request, which was made at the May 2018 CPT Editorial Panel Meeting, was part of Dignitana's efforts to provide a pathway for a more universal and standardized patient coverage method. At present, the service of scalp cooling used in conjunction with patients' chemotherapy treatments for solid tumor cancers is not reflected in CPT nomenclature.
Significant events during the period
- The DigniTherm™ Click Cap was introduced to facilities in December 2017 and the roll-out to all U.S. facilities was completed in Q1 2018.
- 13 machines were installed at 12 sites in the US in Q1.
- Transition of operations from Lund, Sweden to the U.S. was announced and initiated in Q4 2017 and continued in Q1. It was successfully completed in April, two months ahead of schedule. Dignitana AB remains in Lund.
- The Rights offering which was begun in Q4 2017 was fully subscribed and funding was completed in early January 2018.
- At an Extraordinary General Meeting 16 March 2018 Thomas Kelly, Ingrid Atteryd Heiman, and Mikael Wahlgren were appointed to the Board of Directors with Thomas Kelly designated as Chairman of the Board for Dignitana AB.
- In March James McKinney was named President and COO of Dignitana, Inc.
- In March Dignitana initiated an application with the American Medical Association for a unique CPT Code for scalp cooling to provide a pathway for universal scalp cooling coverage. The decision will be announced by the AMA in June.
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Dignitana AB, has today held an annual general meeting at the company's premises in Lund. In all the proposed cases, the AGM resolved in accordance with the Board's proposal. Below is a summary of the decisions taken.
Sysmex Europe GmbH to Transfer Management of All European Installations Of The DigniCap Scalp Cooling System Back to Dignitana AB
Lund, Sweden - 9th April 2018 - Dignitana AB, world leader in clinically superior scalp cooling technology, will assume the complete operation from Sysmex Europe GmbH of their DigniLife® scalp cooling division. The agreement is effective April 2018 and the transition with medical facilities will begin immediately.
Lund, Sweden - 3 April 2018 - Dignitana AB hereby publishes the annual report for 2017. The annual report is attached to this press release and can be downloaded from the website www.dignitana.se. You can also order a printed version via email@example.com.Note: This report is published in Swedish.