Spectral AI Appoints Dr. J. Michael DiMaio to Board of Directors as Non-Executive Member
Spectral AI, Inc. (NASDAQ:MDAI), a leading AI company specializing in medical diagnostics for wound care, has recently named Dr. J. Michael DiMaio to its Board of Directors as a non-executive member. This announcement comes as the company prepares to commercialize its groundbreaking DeepView® System, a diagnostic device aimed at revolutionizing wound care management.
Dr. DiMaio’s appointment fills a vacancy left by the departure of Mr. Michael Murphy. The renowned surgeon and influential figure in the medical community, Dr. DiMaio is a co-founder and former CEO and Chairman of Spectral AI. His extensive experience in patient care, medical device technologies, and leadership in cardiovascular programs make him an invaluable addition to the board.
The return of Dr. DiMaio to the board is seen as a strategic move for Spectral AI as it gears up for the commercialization of the DeepView® System. This cutting-edge device is designed to provide clinicians with an objective assessment of a wound’s healing potential, leading to improved patient outcomes and reduced healthcare costs. The focus of Spectral AI is on addressing unmet clinical needs in wound care, particularly for patients with burns and diabetic foot ulcers.
In addition to the new board appointment, Spectral AI has revealed that Dr. DiMaio and Erich Spangenberg, together holding approximately 45% of the company’s outstanding shares, have agreed to extend their lock-up agreements for another 180 days. This demonstrates their continued commitment to the long-term prospects of the company.
As Spectral AI takes its innovative DeepView® System to market, the expertise and leadership of Dr. DiMaio will be instrumental in driving the company’s growth and product development. With his deep knowledge of patient care, medical devices, and cardiovascular programs, Dr. DiMaio is expected to play a pivotal role in shaping the future of wound care diagnostics.
River Smith
March 25, 2023
Analyst comment
Positive news. Dr. DiMaio’s appointment to the board strengthens Spectral AI’s leadership and expertise as they prepare to commercialize the DeepView® System. This, along with the extension of lock-up agreements, demonstrates confidence in the company’s long-term prospects. Expect continued growth and product development in the wound care diagnostics market.
