Senseonics Holdings, Inc. Announces Executive Changes
September 13, 2021 at 08:38 am EDT
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On September 8, 2021, the board of directors of Senseonics Holdings, Inc. appointed John Marotta to serve as a director of the Company, which appointment became effective immediately. Mr. Marotta will serve as a Class I director whose term will expire at the 2023 annual meeting of stockholders. There is no family relationship between Mr. Marotta and any of the Company’s other directors or executive officers. Mr. Marotta was appointed as a director pursuant to that certain Investor Rights Agreement (the “PHC IRA”), dated August 9, 2020, by and between the Company and PHC Holdings Corporation (“PHC”). Mr. Marotta will not be a member of any Board committees and, in consideration of Mr. Marotta’s relationship with Ascensia, he will not receive compensation in his capacity as director of the Company. Mr. Marotta is expected to enter into the Company’s standard form of indemnification agreement with the Company. He served in various commercial roles at Synthes Orthopedics, Vice President at Cardinal Health Inc., President and CEO at Emerge Medical, at Danaher Corporation, General Manager and Vice President of KavoKerr Restoratives, Senior Vice President of the Dental Platform, Danaher Corporation and as Senior Vice President of Envista Holdings Corporation (spin-out of Danaher). Most recently he was President and CEO of Epredia, a PHC operating company and carve-out from Thermo Fisher. Marotta is a Healthcare Fellow at the Aspen Institute and a member of the Aspen Global Leadership Network.
Senseonics Holdings, Inc. is a medical technology company focused on the development and manufacturing of glucose monitoring products designed to transform lives in the diabetes community. Its glucose monitoring (CGM) systems, Eversense, Eversense XL, and Eversense E3 include a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor. The glucose data are automatically sent every five minutes to a mobile app on the user's smartphone. Eversense consists of three primary components: a small sensor inserted subcutaneously under the skin by a healthcare provider; an external removable smart transmitter that receives, assesses and relays data from the sensor and provides vibratory alerts; and a mobile app that receives data from the transmitter and provides real-time glucose readings, alerts and other data the person's mobile device. Its CGM system continually and accurately measures a person's glucose levels for up to six months.