Nuwave Health Inc. (OTC:SNWV) Stock Retreats After Latest News

The announcement of a key new hire is often seen as a major new development by most investors, and this morning it remains to be seen if Nuwave Health Inc. (OTC:SNWV) gets any action following the announcement it made yesterday. The company is one of the leading providers of advanced United States Food and Drug Administration-approved wound care products.

On April 1, SaNUWAVE Health announced that it had hired a new Chief Financial Officer in the form of Peter Sorensen. In the news release, the company noted that Sorensen was a highly experienced executive who had deep expertise in the fields of analysis, finance, forecasting, and the capital markets.

Additionally, he also demonstrated his strong abilities in the areas of process automation, software, and human resources from his previous role in heading the finance and human resources teams at the medical device company Endogenex Inc. He had also worked in financial planning and analysis at the firm Caisson International and at the heart failure divisions at LivaNova PLC, where he did financial planning and analysis. Sorensen had also been involved in software consulting for the management consulting firm eCapital Advisors, which specialized in the implementation of technology focused on supporting data-backed decision-making.

Sorensen earned his BA with a specialization in business administration from Bethel University and an MBA from the Herberger Business School located in Minnesota. In its news release, SANUWAVE Health Chief Executive Officer Morgan Frank noted that everyone at the company was excited at having welcomed Sorensen to the company at a crucial time in its growth trajectory.

He stated that the experience and energy of Sorensen would be strong additions to the management team of the company. His skills would also help the company take the next step toward becoming a major operator in the wound care space.


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