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NORWELL, Mass. - DIH Holding US, Inc. (NASDAQ:DHAI), a provider of robotic rehabilitation devices with a market capitalization of $11.5 million, announced Friday the appointment of Scott R. Burell to its Board of Directors. According to InvestingPro analysis, the company’s stock has shown strong momentum recently, with an 11% return over the past week.
Burell currently serves as Chief Financial Officer and Secretary of AIVITA Biomedical, an immuno-oncology company. He previously led CombiMatrix Corporation as CFO through its acquisition by Invitae Corp. His appointment comes at a crucial time for DIH, which currently trades at a low revenue multiple despite generating $69.6 million in revenue over the last twelve months.
The new board member also serves on the Board of Directors of Microbot Medical, Inc. (NASDAQ:MBOT), a medical device company specializing in micro-robotics technologies. Burell holds Bachelor of Science degrees in Accounting and Business Finance from Central Washington University and is a certified public accountant.
"Scott brings exceptional financial acumen and extensive experience in the life sciences sector," said CEO Jason Chen in the company’s press release.
Burell stated, "I am pleased to join DIH’s Board of Directors and contribute to the company’s mission of improving lives through advanced rehabilitation technologies."
With this addition, DIH’s Board now consists of six members, including four independent directors.
DIH provides robotic devices used in physical rehabilitation that incorporate visual stimulation in an interactive manner for patients with walking impairments, reduced balance, and impaired arm and hand functions.
The announcement comes as the company continues to focus on its growth strategy in the rehabilitation robotics market. While DIH maintains a solid 50% gross profit margin, InvestingPro analysis suggests the stock is currently undervalued, with eight additional exclusive insights available to subscribers. Discover more detailed financial analysis and investment opportunities in the medical devices sector through InvestingPro’s comprehensive research platform.
In other recent news, DIH Holding US, Inc. has made significant developments. The company amended its agreement with an investor to allow for a portion of its outstanding convertible debenture to be exchanged for common stock shares. This amendment, part of an original agreement involving a $3.3 million debenture, also permits future redemption and interest payments in cash or stock. Additionally, DIH appointed Dennis Streppa to its Board of Directors, where he will serve as the Audit Committee Chair, bringing extensive experience in healthcare operations and private equity. In another strategic move, DIH named Professor Nick Ward to its Scientific Advisory Board. Ward, a specialist in upper limb neurorehabilitation, brings expertise from his roles at University College London’s Institute of Neurology and the National Hospital for Neurology and Neurosurgery. These appointments reflect DIH’s ongoing efforts to strengthen its governance and scientific advisory capabilities.
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