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MedTech Outlook | Friday, January 20, 2023
HeartSciences Selects David R. Wells, an Experienced Capital Markets and Finance Executive, to its Board of Directors.
FREMONT, CA: “We are pleased to welcome David Wells to our Board of Directors, who has a track record working with, and as CFO for, public and private companies and brings considerable finance and capital markets experience. David has experience with medical technology, startups and rapid growth companies which will be important as we advance towards commercialization following completion of our validation study and FDA De Novo resubmission," says Andrew Simpson, Chief Executive Officer of HeartSciences. Heart Test Laboratories, a medical technology company focused on saving lives by using Artificial Intelligence (AI) to make an ECG (also known as an EKG) a far more valuable screening tool, has appointed David R. Wells to its Board of Directors, effective December 28, 2022. Patrick Kanouff resigned from the Board of Directors contemporaneously.
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Heart Test Laboratories is a medical technology firm specializing in applying revolutionary AI-based technology to an ECG (also known as an EKG) to broaden and enhance an ECG's therapeutic utility. Every week, millions of electrocardiograms (ECGs) are performed, and the company's goal is to improve healthcare by making ECGs a considerably more valuable cardiac screening tool, especially in frontline or point-of-care clinical settings. The MyoVista® wavECG, or the MyoVista®, is the first product candidate from HeartSciences to receive FDA certification. It is a 12-lead ECG designed to give diagnostic information about cardiac dysfunction that was previously only accessible through cardiac imaging. In the same test, the MyoVista® also gives traditional ECG information. The business model, which involves the usage of the MyoVista® device and consumables for each test, is anticipated to be razor-sharp, as the MyoVista® electrodes are exclusive to HeartSciences, and new electrodes are required for each test.
Mr. Wells has over 30 years of experience in senior financial management. Recently, he established Atlas Bookkeeping, LLC, a technology-based financial services company that offers bookkeeping and reporting services to grow growth and small-cap public and private enterprises. Before joining Atlas, Mr. Wells was the Chief Financial Officer of GHS Investments, LLC, a super value fund focused on small- to mid-cap companies. Additionally, Mr. Wells worked as the Chief Financial Officer of ENDRA Life Sciences, a publicly traded clinical diagnostics technology firm. Mr. Wells oversaw ENDRA's initial public offering and contributed to the company's acquisition of an additional $55 million through numerous deals. Previously, David launched Wells Compliance Group, a technology-based services company that supports the financial reporting requirements of both publicly listed and privately held enterprises. David also held positions as Chief Financial Officer, Vice President of Finance, and Senior Business Analyst. David began his work as a consultant for various startups and expanding businesses. David possesses a Master of Business Administration with a concentration in Finance from Pepperdine University and a Bachelor of Science in Finance and Entrepreneurship from Seattle Pacific University.
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