Hyperfine, Inc. (Nasdaq: HYPR), the groundbreaking medical device company that created Swoop®, the world’s first FDA-cleared portable MRI system™, is proud to announce the appointment of Brett Hale as its new Chief Administrative Officer & Chief Financial Officer (CFO). Commencing February 13, 2023, Mr. Hale will replace Alok Gupta who, after a transition period, is set to step down on or about March 31. With the appointment of Mr. Hale, Hyperfine is poised to reach new heights in its pioneering work.
Mr. Hale has a wealth of experience as a financial professional, having worked in the medical technology industry for over two decades. Most recently, he served as CFO of Bigfoot Biomedical, Inc., a company that develops an integrated decision support solution for insulin requiring diabetes. Prior to that, he was CFO of CardioKinetix Inc. and Concentric Medical, Inc., and was part of the team that successfully facilitated the acquisition of Concentric Medical, Inc. by Stryker Corp. in 2011. Mr. Hale’s career began at Guidant Corporation and he has also held roles at PricewaterhouseCoopers, where he was Assurance Manager. He holds a B.S. in Accounting and an M.B.A. from Indiana University and is a Certified Public Accountant.
We are thrilled to welcome Brett Hale as our new Chief Administrative Officer and Chief Financial Officer! His extensive experience in the medical device industry, combined with his impressive finance background, will be an invaluable asset to our company as we strive to optimize and expand our technology, business model, and global presence. We are confident that Brett will be an instrumental part of our team as we continue to grow and increase the reach of our product, Swoop. Maria Sainz, our CEO, is excited to work with Brett and looks forward to the positive changes he will bring to Hyperfine, Inc.
I am thrilled to be joining the Hyperfine leadership team and to join them on their mission to revolutionize the medical imaging industry. As someone passionate about introducing transformative technologies to the market, I am confident that Hyperfine is at the forefront of providing improved access to MRI for medical professionals and patients alike. It is an incredibly exciting time to be a part of the Hyperfine journey, and I am looking forward to being a part of it.
The past two years I spent at Hyperfine have been an absolute honor, and I’m especially proud of the cost-saving measures we implemented, allowing us to stretch our cash runway until 2025. I’m sure the company has the momentum to achieve great success in the future.
Mr. Hale was granted an exciting opportunity to purchase 1,000,000 shares of Hyperfine, Inc. Class A common stock on his start date, February 13, 2023, through inducement stock options. These stock options were granted to Mr. Hale as an incentive for his acceptance of employment with Hyperfine, Inc. in accordance with Nasdaq Listing Rule 5635(c)(4). The stock options vest over four years: 25% at the mid-point of the calendar quarter after one year of employment, and 2.083% at the end of each month thereafter, provided Mr. Hale remains employed with Hyperfine, Inc. throughout the vesting period.
About Hyperfine, Inc.
Hyperfine, Inc. is revolutionizing medical imaging with their incredible invention, Swoop®, the world’s first FDA-cleared portable MRI system™. Swoop has been designed to make life-saving care more accessible to all, regardless of income, resources, or location. With Swoop, high-quality images can be captured in minutes, giving clinicians the ability to diagnose and treat patients on the spot. This revolutionary technology can be wheeled directly to the patient’s bedside and plugged into a standard electrical wall outlet and controlled from an iPad®, making it a cost-effective and convenient alternative to conventional MRIs. The introduction of Swoop is changing the way medical imaging is conducted, allowing for faster diagnoses and treatments in emergency departments, operating rooms, and intensive care units.