Close

Butterfly Network, Inc. and Longview Acquisition Corp. (LGVW) Announce Dr. Todd Fruchterman to Become President and CEO of the Combined Company

January 25, 2021 4:10 PM EST

Butterfly Network, Inc. ("Butterfly"), an innovative digital health company that is working to enable universal access to superior medical imaging, has named Dr. Todd M. Fruchterman, M.D., Ph.D., as President and Chief Executive Officer, effective February 1st, in advance of the closing of its announced business combination with Longview Acquisition Corp. ("Longview", NYSE: LGVW, LGVW.U, LGVW WS). Dr. Fruchterman joins Butterfly after nearly ten years at 3M Company ("3M"), where he most recently served as President and General Manager of 3M's Medical Solutions Division, managing a $4.8 billion global business with above-market growth. Previously, Dr. Fruchterman spent five years as EVP at Kinetic Concepts, Inc. ("KCI"), before which he served in key roles at Johnson & Johnson, Schering-Plough, and Response Genetics. At 3M and KCI, Dr. Fruchterman also served as both Chief Technology Officer and Chief Medical Officer. Most recently, he was Group President, Reliability Solutions at Flex.

"We are very excited Todd has joined Butterfly as President and CEO to lead the Company at this critical stage. Todd brings together his unique qualifications and experience as an M.D., Ph.D. and proven business executive in public medical device companies, where he has successfully scaled disruptive technologies throughout his entire career," said Dr. Jonathan Rothberg, Founder and Chairman of Butterfly. "Our most valuable assets are the people of Butterfly who innovate and serve on a daily basis, and I am pleased to support Todd as he builds upon a culture of purpose, joy and empowerment for our team and impact for patients and caregivers."

"The heart of Butterfly's culture is clinical excellence, combined with technological breakthroughs, with a customer-centric approach to drive commercial success," said Larry Robbins, Chairman of Longview. "Todd's experience fits hand in glove with the breadth and depth of our opportunity to drive better medicine, empower medical professionals, improve patient outcomes and generate significant growth and value over the long-term."

"It is a privilege for me to join Butterfly at this pivotal time in its pioneering effort to deliver affordable imaging solutions to the world," said Dr. Fruchterman. "Together with the deep and skilled leadership team, and with the support of Jonathan and Larry, I look forward to empowering a full spectrum of medical professionals, worldwide, with Butterfly's technology to help millions of patients achieve better, more cost-effective outcomes, and maintain wellness."

In anticipation of the closing of the business combination, Butterfly and Longview have also nominated Directors for election to the Board of Directors of the combined company. Joining Dr. Rothberg (Chair), Dr. Fruchterman (President and CEO) and Mr. Robbins are Dawn Carfora, Vice President, Business Planning and Operations, Global Business Group at Facebook; John Hammergren, former Chairman and CEO of McKesson Corporation; Gianluca Pettiti, Senior Vice President and President of Specialty Diagnostics at Thermo Fisher Scientific, Inc. and S. Louise Phanstiel, Chair of the Board of Directors at Myriad Genetics.

"I am grateful to these independent directors for supporting our movement to use Ultrasound-on-Chip™ technology to make safe diagnostic imaging more accessible, more affordable and more effective," said Dr. Rothberg. "We expect that their deep skills and directly relevant experiences will bring to the company wisdom and insight across operational, strategic, cultural and fiduciary spheres."

"As we strive to build a world-class global organization, we are fortunate to have the opportunity to access the perspectives and guidance of four highly accomplished executives whose current or prior employers – Anthem (Wellpoint), Facebook, McKesson, and Thermo Fisher Scientific – are all significant and admired growth companies," said Mr. Robbins. "We welcome them each as new Board members of the combined company and new investors in Butterfly."

Longview has scheduled its Special Meeting of Stockholders for 8:00 a.m., New York Time, on Friday, February 12, 2021, for Longview's stockholders to approve the business combination and the election of the 7 nominated Directors to the Board of Directors of the combined company. Subject to stockholder approval and satisfaction or waiver of the other closing conditions to the business combination, the business combination is expected to close on the same day. Trading in the combined company's Class A Common Stock on the New York Stock Exchange (NYSE) is expected to begin on Tuesday, February 16th, under the ticker "BFLY".

Butterfly and Longview express their appreciation and best wishes to Laurent Faracci, Butterfly's former CEO who stepped down over the weekend. "Laurent recognized the value of this transformative combination and was critical in moving the company toward this goal and providing a seamless transition for the next phases of growth," said Dr. Rothberg. "We wish him well in his future endeavors."



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Management Changes, Management Comments

Related Entities

Glenview Capital Management, Definitive Agreement