TORONTO, October 19, 2022–(BUSINESS WIRE)–NeuPath Health Inc. (TSXV:NPTH), (“NeuPath” or the “Company”), owner and operator of a network of clinics delivering category-leading chronic pain treatment, today announced updates to the Company’s Board of Directors that will continue to support the Company’s leadership team in executing the strategic growth plan.
Effective today, Daniel Chicoine has accepted the role of Chair of the Company’s Board of Directors, replacing Dianne Carmichael who stepped away for health reasons on September 30, 2022. In addition to the new responsibilities, Mr. Chicoine – as an independent director – will continue to serve as Chair of the Audit Committee and member of the Compensation, Nomination and Corporate Governance Committee.
In addition to Mr. Chicoine’s appointment to Chair of the Board of Directors today, Grishanth Ram resigned from the Board of Directors and all roles with the Company effective today. Mr. Ram is a co-founder of InMedic Creative Medicine, which was acquired by the Company in 2018. Mr. Ram joined the NeuPath Board of Directors in June 2020, when the Company became a reporting issuer.
Joe Walewicz, Interim CEO, commented, “Our Board of Directors remains focused, and is actively involved in supporting our growth plans that provide value to our patients and the physicians and teams who serve them. I am thrilled that someone of Dan’s standing, experience, background, and knowledge will lead our Board and provide valuable guidance to our executive leadership team. I have known and collaborated with Dan for many years and look forward to a continued strong and productive relationship.”
Jolyon Burton, Director, added, “I am grateful for the contributions, growth and friendship that Grishanth provided to me and to NeuPath over the years. He cares deeply about the success of the Company and, on behalf of the Board, we thank him for his service and wish him well in his future endeavours.”
Background information on Daniel Chicoine:
Mr. Chicoine is currently the Chairman of Crescita Therapeutics Inc. (TSX:CTX ) and a Director on the Board of Directors of Miravo Healthcare (TSX:MRV)(formerly Nuvo Pharmaceuticals). Mr. Chicoine served as Nuvo’s Chairman and Co-CEO and was actively involved in its day-to-day operations from 2004 to 2016 when Crescita became a reporting issuer following the reorganization of Nuvo Research into two separate publicly traded entities, Crescita and Nuvo Pharmaceuticals Inc. Prior to 2004, Mr. Chicoine held various senior executive positions at the Magna International group of companies, including President and Chief Executive Officer and Chief Financial Officer, and was the President of PowerCart Systems Inc., a Markham-based private company that designs and manufactures battery-equipped workstations that power devices with wireless communication capability. Mr. Chicoine is a graduate of the University of Toronto in commerce and is a Chartered Professional Accountant.
NeuPath is a vertically integrated health care provider utilizing research, data-driven insights, technology, and interdisciplinary care to help restore function for patients impacted by chronic pain, spinal injuries, sport-related injuries, and concussions. With equity ownership in sixteen clinics in Ontario and Alberta, NeuPath is building out a large-scale network to better serve patients across Canada. NeuPath is focused on transforming the hope of a better life into the reality of a life more fully lived.
This news release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the execution of the Company’s expansion strategy in 2022 are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations included in this news release include, among other things, the severity, duration and spread of the COVID-19 outbreak, as well as its direct and indirect impacts that the pandemic may have on the Company’s operations, adverse market conditions, risks associated with obtaining and maintaining the necessary governmental permits and licenses related to the business of the Company, increasing competition in the market and other risks generally inherent in the chronic pain, sports medicine, concussion and workplace health services markets. A comprehensive discussion of these and other risks and uncertainties can be found in the Company’s annual information form dated March 17, 2022 filed on SEDAR under the Company’s profile at www.sedar.com.
Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to their inherent uncertainty.
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