QUEBEC CITY, March 27, 2023 /CNW/ - OpSens Inc. ("OpSens" or the "Company") (TSX: OPS) (OTCQX: OPSSF), a medical device cardiology-focused company delivering innovative solutions based on its proprietary optical technology, today announced the appointment of John Hannigan as Chief Financial Officer, effective immediately.
Mr. Hannigan is a highly experienced financial executive with more than 22 years of proven financial expertise with domestic and international companies. Prior to joining the Company, Mr. Hannigan, served as Vice President, finance at diaMentis Inc., a Quebec City based company developing a simple and reliable solution in personalized medicine, intended to be used by clinicians as a support for making faster, more objective, and accurate diagnoses of mental health disorders. Prior to diaMentis, from August 2015 to December 2020, Mr. Hannigan worked in various senior financial management positions for IPL Plastics Inc., a leading sustainable packaging solutions company listed on the Toronto Stock Exchange. IPL Plastics annual revenue was US$600 million when acquired in 2020.
Mr. Hannigan began his career with KPMG in Ireland, working with the firm from November 2000 to August 2015. His client list was extensive and included listed and private companies with an international presence.
"We are very pleased John Hannigan has agreed to become our new Chief Financial Officer. John's proven experience will be beneficial in implementing OpSens' financial and growth strategies," added Louis Laflamme, President and Chief Executive Officer of OpSens.
"I am very enthusiastic to join the OpSens team during this exciting period for the Company as it ramps up its commercial activities for its products including the newest, the SavvyWire," said Mr. Hannigan.
OpSens focuses mainly on cardiology. The Company offers an advanced optical-based pressure guidewire that aims at improving the clinical outcome of patients with coronary artery disease. Its flagship product, the OptoWire, is a second-generation fiber optic pressure guidewire designed to provide the lowest drift in the industry and excellent lesions access. The OptoWire has been used in the diagnosis and treatment of more than 200,000 patients in more than 30 countries. It is approved for sale in the United States, European Union, United Kingdom, Japan and Canada.
OpSens has recently received FDA clearance and Health Canada approval to commercialize the SavvyWire for transcatheter aortic valve replacement procedures (TAVR).
The TAVR procedure is growing rapidly globally, driven by the aging population and recent studies that demonstrate its benefits for a broader array of patients. The global TAVR market is currently estimated at over 200,000 procedures and is expected to reach 400,000 in 2027.
OpSens is also involved in industrial activities in developing, manufacturing, and installing innovative fiber optic sensing solutions for critical applications.
SOURCE OpSens Inc.
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