WIXOM, Mich.--(BUSINESS WIRE)--Rockwell Medical, Inc. (the "Company") (Nasdaq: RMTI), a healthcare company that develops, manufactures, commercializes, and distributes a portfolio of hemodialysis products to dialysis providers worldwide, today announced that Jesse Neri has joined the Company as Senior Vice President, Finance. Mr. Neri will oversee all aspects of Rockwell Medical's finance organization.
Mr. Neri has over 20 years' experience leading finance functions at both public and private companies. Prior to joining Rockwell Medical, he was the head of finance at Hemavant Sciences, a clinical stage biopharmaceutical company developing therapeutics to improve the lives of patients with blood disorders and hematological malignancies. Previously, Mr. Neri served as Senior Vice President of Finance at Zyla Life Sciences, a public pharmaceutical company with annual revenue of $80 million. As a member of the senior management team, Mr. Neri was responsible for all aspects of its finance organization including SEC reporting, audit, controllership, and strategic planning. While at Zyla, he played a pivotal role in multiple product acquisitions, financings, commercial product launches and regulatory approvals, along with Zyla's acquisition by Assertio Therapeutics in May 2020. Prior to Zyla, Mr. Neri served as Vice President of Financial Planning and Analysis at Symphony Health Solutions, a private equity-backed market research company with revenues over $200 million. Mr. Neri received a B.S., Business Administration of Finance from Villanova University and an M.B.A. from Drexel University LeBow School of Business.
"Jesse's extensive experience leading finance organizations within revenue-generating, growth-oriented healthcare businesses will be valuable to Rockwell Medical as we contemplate various avenues of expansion and growth," said Mark Strobeck, Ph.D., President and CEO at Rockwell Medical. "Additionally, Jesse's expertise will enhance our ability to continue strengthening our financial and operating infrastructure while advancing our ability to meet our strategic objectives."
“I am thrilled to be joining Rockwell Medical as its new head of finance at such an exciting time in the Company's history," said Mr. Neri. "Rockwell Medical continues to improve its balance sheet and expand its leadership position in the renal healthcare space. I am excited to be part of a team that is focused on innovative, long-term growth strategies that have the potential to positively impact patients and shareholders around the globe."
The Compensation Committee of the Company’s Board of Directors approved the grant of stock options to purchase 75,000 shares of the Company’s common stock to Mr. Neri (the “Inducement Grant”) on October 16, 2023 (the “Grant Date”). The Inducement Grant has been granted outside of the Company’s 2018 Long Term Incentive Plan (“Plan”) but remains subject to the terms and conditions of such Plan. The Inducement Grant was granted as an inducement material to Mr. Neri entering into employment with Rockwell Medical in accordance with Nasdaq Listing Rule 5635(c)(4). The Inducement Grant has an exercise price per share that is equal to the closing price of the Company’s common stock on the Grant Date. The Inducement Grant will vest 25% on each of the first four anniversaries of the Grant Date until fully vested, subject to Mr. Neri’s continued employment through the applicable vesting dates.
About Rockwell Medical
Rockwell Medical, Inc. (Nasdaq: RMTI) is a healthcare company that develops, manufactures, commercializes, and distributes a portfolio of hemodialysis products for dialysis providers worldwide. Rockwell Medical's mission is to provide dialysis clinics and the patients they serve with the highest quality products supported by the best customer service in the industry. Rockwell is focused on innovative, long-term growth strategies that enhance its products, its processes, and its people, enabling the Company to deliver exceptional value to the healthcare system and provide a positive impact on the lives of hemodialysis patients. Hemodialysis is the most common form of end-stage kidney disease treatment and is typically performed at freestanding outpatient dialysis centers, hospital-based outpatient centers, skilled nursing facilities, or in a patient’s home. Rockwell Medical's products are vital to vulnerable patients with end-stage kidney disease, and the Company is relentless in providing unmatched reliability and customer service. Rockwell Medical is the second largest supplier of acid and bicarbonate concentrates for dialysis patients in the United States and has the vision of becoming the leading global supplier of hemodialysis concentrates. Certified as a Great Place to Work® in 2023, Rockwell Medical is Driven to Deliver Life-Sustaining Dialysis SolutionsTM. For more information, visit www.RockwellMed.com.
Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as, "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "could," "can," "would," "develop," "plan," "potential," "predict," "forecast," "project," "intend," "look forward to," "remain confident," “are determined,” “are on track,” “are resolute in our vision,” "work to," "drive towards," “focused on,” or the negative of these terms, and similar expressions, or statements regarding intent, belief, or current expectations, are forward looking statements. There can be no assurance that Rockwell Medical will become the leading global supplier of hemodialysis concentrates, expand or maintain its customer relationships going forward, or that Mr. Neri's expertise will help Rockwell Medical achieve its strategic goals. While Rockwell Medical believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties (including, without limitation, those set forth in Rockwell Medical's SEC filings), many of which are beyond our control and subject to change. Actual results could be materially different. Risks and uncertainties include, but are not limited to those risks more fully discussed in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2022, as such description may be amended or updated in any future reports we file with the SEC. Rockwell Medical expressly disclaims any obligation to update our forward-looking statements, except as may be required by law.
