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NORWELL, Mass. - DIH Holding US, Inc. (NASDAQ:DHAI), a provider of robotic rehabilitation devices with annual revenue of $69.57 million, announced Friday the appointment of Dennis Streppa to its Board of Directors, where he will serve as Audit Committee Chair.
Streppa brings experience as a global Chief Operations Officer with background in both public and private healthcare companies. His career includes driving M&A value at Cardinal Health, leading manufacturing operations for an $800 million business, and managing private equity deals. He holds an MBA from Kellogg.
"I am truly honored to join the Board of Directors and serve as Chair of the Audit Committee," Streppa said in a statement released by the company.
With this addition, DIH’s Board now consists of five members, including three independent directors, according to the company’s press release.
DIH provides robotic devices for physical rehabilitation that incorporate interactive visual stimulation for patients with walking impairments, balance issues, and arm and hand function limitations.
The company describes itself as a consolidator in what it characterizes as a fragmented rehabilitation solutions industry.
In other recent news, DIH Holding US, Inc. has made notable developments in its business operations. The company announced the appointment of Professor Nick Ward to its Scientific Advisory Board. Professor Ward, an expert in stroke rehabilitation, is expected to bring his extensive clinical experience to DIH’s initiatives in neurorehabilitation. In addition, DIH has amended an agreement with an investor to exchange a portion of its convertible debenture for common stock shares. This amendment allows future redemption payments and interest on the debenture to be made in cash or stock. The original agreement involved a $3.3 million principal amount of 8% Senior Secured Convertible Debentures. The amendment addresses the issue of insufficient shares available for future conversion payments. These recent developments reflect DIH’s ongoing efforts to enhance its financial strategy and strengthen its advisory capabilities.
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