Spectral AI Inc (NASDAQ:MDAI) announced that its founder Dr J Michael DiMaio has been appointed chairman of the board of directors.
DiMaio, a seasoned cardiothoracic surgeon and former CEO of the company, is expected to lead Spectral AI through its next phase of growth, focusing on the commercialization and FDA approval of its DeepView System for wound care.
He founded the company in 2009 and served as CEO and chairman of the board from 2011 to 2020.
He replaces Richard Cotton, who will remain on the board and will serve as the head of the company’s Audit Committee and Lead Independent Director.
“Given our needs for the future, the board concluded it was clear Dr DiMaio’s expertise, leadership style, and deep understanding of our industry and the DeepView System, paired with his deep commitment to patient care and our employees, make him the right person to lead Spectral AI’s next stage of growth,” Cotton said.
“I look forward to supporting him and the rest of the board as they seize the opportunities ahead.”
Cotton said he was honored to step into the role of chairman at Spectral AI.
“As a surgeon, my passion has always been to improve patient outcomes by providing clinicians with the most advanced tools for faster, more accurate diagnoses,” he said.
“Spectral AI’s technology has the potential to revolutionize wound care, enabling healthcare providers to make critical decisions faster and with greater precision.”
Further, the company announced that it has created the Office of the Chairman, consisting of key executives, to handle day-to-day operations.
In connection with the formation of the Office of the Chairman, CEO Peter Carlson will be transitioning out of this role and from the company’s board of directors to pursue other business opportunities. He will remain as a consultant to Spectral AI.
"I would like to thank Pete for his contributions to Spectral AI as CEO, and board member,” Cotton added.
“I would particularly like to recognize his role in leading the company during the completion of adult and pediatric patient enrollment at US burn centers for our US Burn Pivotal Study and his unwavering support for the commercialization of our DeepView Wound Imaging System.”
Spectral AI is a predictive AI company specializing in medical diagnostics to enable faster and more accurate treatment decisions, with initial applications targeting burn patients and those with diabetic foot ulcers.