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KORU MEDICAL SYSTEMS

Key Takeaway: Koru Medical Systems, Inc. announced the appointment of Edward Wholihan to its Board of Directors on September 28, 2023. Wholihan brings over 25 years of experience in the healthcare sector, most recently as CFO for different life sciences businesses. His strategic insights are expected to significantly contribute to the company's growth and its position in the subcutaneous infusion market. Koru Medical continues to innovate with its FREEDOM Infusion System aimed at improving patient quality of life.
Price reaction · baseline $2.61 (2023-10-03 close) · hit after-hours · clean, no other KRMD news in the window
day 0 close · peak
+2.7%

Market Sentiment Analysis

POSITIVE FACTORS

  • Appointment of Edward Wholihan brings extensive experience.
  • Wholihan's background can enhance shareholder value.
  • Company is focused on growth in the subcutaneous infusion market.

Full Press Release Details

KORU MEDICAL SYSTEMS, INC. ANNOUNCES APPOINTMENT
OF EDWARD WHOLIHAN TO ITS BOARD OF DIRECTORS
MAHWAH, NJ - October 4, 2023 - KORU
Medical Systems, Inc. (NASDAQ: KRMD) ("KORU Medical" or the "Company"), a leading medical technology company
focused on the development, manufacturing, and commercialization of innovative and easy-to-use specialty subcutaneous infusion solutions
that improve quality of life for patients, today announced that Edward Wholihan was appointed to the Company's Board of Directors
September 28, 2023 to fill the vacancy that followed the Company's 2023 Annual Meeting of Shareholders.
"I am extremely proud to welcome a highly accomplished
executive such as Ed to our Board of Directors. He will be a valuable addition and we will benefit from his breadth of experience and
success creating shareholder value in high-growth life science and healthcare businesses," said Linda Tharby, KORU Medical's
President and CEO. "As we continue to build our leadership position in the subcutaneous infusion market with our FREEDOM Infusion
System, Ed's insights will meaningfully contribute to our future growth and success."
Edward Wholihan joins KORU Medical's Board of
Directors with over 25 years of experience as Chief Financial Officer driving growth and shareholder value for public, private equity-sponsored,
and venture capital-funded life sciences and healthcare businesses. Most recently, he has leveraged his strategic management, financial,
and operational expertise consulting for various companies. Prior, he served as the Chief Financial Officer for Rarebreed Veterinary Partners,
Inc, a community of veterinary hospitals; CFO of Allena Pharmaceuticals, Inc., a development stage biopharmaceutical company; and CFO
of Medical Specialties Distributors, a leading solution provider to the specialty pharmacy, home infusion, and oncology practice markets
that was acquired by McKesson Corp (NYSE:MCK) in 2018. Ed also held two other CFO roles within the life science sector earlier in his
career and, prior to that, spent seven years as a management strategy consultant for McKinsey & Company. He earned his MBA from Stanford
University's Graduate School of Business and a BA in economics from Yale University.
"I am impressed with KORU Medical's tremendous
progress, innovation, and commitment toward growth, and I am excited to take part in helping the Company achieve its goal to improve the
quality of life for patients around the world," said Mr. Wholihan. "I look forward to supporting Linda and the KORU Medical
team as they continue to drive the Company's growth strategy and the provision of subcutaneous infusion therapies and their benefits
About KORU Medical Systems
KORU Medical Systems develops, manufactures, and commercializes
innovative and easy-to-use subcutaneous drug delivery systems that improve quality of life for patients around the world. The FREEDOM
Infusion System currently includes the FREEDOM60 and FreedomEdge Syringe Infusion Drivers, Precision Flow Rate Tubing
and HIgH-Flo Subcutaneous Safety Needle Sets . These devices are used for infusions administered in the home and alternate care
settings. For more information, please visit www.korumedical.com.

Frequently Asked Questions

Who was appointed to KORU Medical's Board of Directors?

Edward Wholihan was appointed to KORU Medical's Board on September 28, 2023.

What experience does Edward Wholihan bring?

He has over 25 years of experience as a CFO in life sciences and healthcare.

What is KORU Medical's main focus?

KORU Medical focuses on developing specialty subcutaneous infusion solutions.

What products does KORU Medical offer?

They offer the FREEDOM Infusion System, including FREEDOM60 and FreedomEdge devices.

Where can I find more information about KORU Medical?

More information is available on their website at www.korumedical.com.

Last updated: Oct 4, 2023