Novosound Appoints Former Intel Executive as CFO, Explores Lucrative North American Market for Wearable Technology
Ultrasound sensor specialist Novosound has announced the appointment of David Jolliffe, a former executive at Intel, as the company's new Chief Financial Officer (CFO). Jolliffe's extensive experience and expertise in finance, business planning, and company acquisitions make him a valuable addition to Novosound's leadership team.
Novosound, known for its commercialized wireless wearable ultrasound platform, foresees a "massive opportunity" for its wearable technology in the North American markets. The platform has already garnered significant demand from clients in the healthcare, well-being, and fitness monitoring sectors.
Jolliffe's previous roles include Finance Director of UK Power Operations at Scottish Power and CFO at Optoscribe, a Scottish technology company specializing in 3D lasers for the telecommunications sector, which was acquired by semiconductor manufacturer Intel Corporation in 2022. With his proven track record and international experience, Jolliffe is well-equipped to contribute to Novosound's financial strategies and overall growth.
Under the leadership of CEO and Co-founder Dave Hughes, the company has also introduced a new leadership team that includes David Jolliffe as CFO, Simon Patterson as Chief Commercial Officer, and Gwen Grant as Head of Operations.
Novosound's expansion into the healthcare industry and its regional growth in North America have been bolstered by strategic partnerships. In December, the company signed a commercial partnership agreement with PAVmed Inc., a diversified medical technology company listed on Nasdaq, to develop advanced intravascular imaging technology. Previous contract wins for Novosound include collaborations with industry giants BAE Systems and GE Aviation, as well as Israeli-based digital health company dSound.
In 2022, Novosound secured a £3.7 million investment round led by Par Equity, with support from Foresight Group (via the Foresight Williams Technology EIS Fund), Kelvin Capital, and Scottish Enterprise. This funding has strengthened the company's position for further innovation and market expansion.
With David Jolliffe onboard as CFO and a focus on penetrating the North American market, Novosound is poised for continued success in delivering cutting-edge wearable technology solutions across various industries.
