Andrew LaFrence Named CFO at KORU Medical Systems

KORU Medical Systems Inc. has appointed Andrew D. C. LaFrence as its chief financial officer (CFO).

“I am incredibly excited to have Andy join KORU Medical as we continue scaling our business and driving towards our Vision 2026 strategy. Andy’s deep experience in medical devices and biopharmaceuticals will provide an immediate impact as he is a talented professional with a proven track record of leading companies through multiple phases of growth,” KORU Medical President/CEO Linda Tharby said. “As CFO, Andy will partner with our team to advance our strategic plan and implement processes and financial systems to support our continued growth. I especially want to thank Tom Adams for his many contributions in the interim CFO role. Tom’s leadership and dedication to KORU Medical helped us to advance several key initiatives and milestones. I look forward to Tom’s continued contributions in his role as vice president, Financial Planning and Analysis.”
 
LaFrence has more than 39 years of finance and accounting experience, including a track record of successfully executing and influencing growth-oriented business and M&A strategies, scaling businesses, developing and managing a global team of finance and accounting professionals, as well as leadership in tax, risk management and information technology. He joins the company from Vyant Bio Inc, a biotechnology company reinventing drug discovery for complex neurodevelopmental and neurodegenerative disorders, where he served as CFO from 2021 to 2023. Before that LaFrence held CFO roles at Surmodics Inc. and several biotech and drug development companies. LaFrence spent the first 26 years of his professional career at KPMG, where he led the Minneapolis office Life Sciences practice for more than 10 years. Andy is a CPA with a bachelor of science degree in accounting from Illinois State University.
 
“KORU Medical is a leader in the home subcutaneous infusion market, a growing global market. As the company looks ahead toward growth on a global scale, I am excited to leverage my background to help KORU Medical achieve its fullest potential,” LaFrence stated. “I look forward to working with Linda and the KORU Medical team to support driving our Vision 2026 growth strategy and continuing to drive shareholder value.”
 
In connection with hiring, LaFrence has been granted the option to purchase 300,000 shares of KORU Medical stock. The option is subject to a four-year vesting schedule with 25% of the shares vesting on the first anniversary of the grant date and the remaining shares vesting in equal annual installments on the subsequent three anniversaries. 
 
KORU Medical Systems develops, manufactures, and commercializes easy-to-use subcutaneous drug delivery systems. The FREEDOM Syringe Infusion System currently includes the FREEDOM60 and FreedomEdge Syringe Infusion Drivers, Precision Flow Rate Tubing, and HIgH-Flo Subcutaneous Safety Needle Sets. These devices are used for infusions administered in the home and alternate care settings.