Establishment Labs Appoints Raj Denhoy as Interim CFO

Establishment Labs Holdings Inc., a medical technology company focused on women’s health, initially in the breast aesthetics and reconstruction market, announced that Renee Gaeta stepped down from her position as chief financial officer (CFO) for another opportunity outside of the company. Raj Denhoy, head of Strategy and Investor Relations, has been named Interim CFO.
  
“I am grateful for my time at Establishment Labs,” said Gaeta. “When I joined in 2017, we were a private company excited to achieve $35 million in annual sales. Now, just four years later, we are a public company with more than three times the revenue, an ongoing FDA trial, and we are preparing to build our third facility to meet demand. I have complete faith in Establishment Labs’ ability to achieve its goal of being the global leader in breast aesthetics and reconstruction. It has been a wonderful experience and my decision to leave was not easy, but I am ready for a new challenge closer to my home in California.”
 
“On behalf of myself, the Board of Directors, and the entire Establishment Labs family, I want to thank Renee for her contributions over the past four years,” said Juan José Chacón-Quirós, founder and CEO of Establishment Labs. “As evidenced by our strong second quarter sales results, she is leaving us with great momentum and in a good financial position. We wish her continued success in all her future endeavors.”

Denhoy joined Establishment Labs in February 2021 as the company’s head of Strategy and Investor Relations. Prior to joining the company, he was with Jefferies Group LLC, where he was a managing director and led the U.S. medical device research team for the previous 11 years, including coverage of Establishment Labs. He covered the medical device industry as an equity research analyst for over 20 years.

Denhoy earned a bachelor’s degree in biology from UC Berkeley, a master’s degree in physiology from Georgetown University, and an MBA from Cornell University.
 
“I am pleased to announce the appointment of Raj Denhoy as our CFO on an interim basis,” Chacón-Quirós continued. “His knowledge of our business and his extensive experience in finance and medical technology make him a natural choice to support our continued growth. I have enjoyed working with him over the past few months and appreciate his taking on this important role in our company.”
 
Establishment Labs Holdings Inc. is a global medical technology company focused on women’s health, initially in the breast aesthetics and reconstruction market, by designing, developing, manufacturing and marketing a portfolio of silicone gel-filled breast implants, branded as Motiva Implants, the centerpiece of the MotivaImagine platform. Motiva Implants are produced at our two manufacturing sites that are compliant with ISO13485:2016, U.S. Food and Drug Administration (FDA) 21 CFR 820 under the MDSAP program, and are currently commercially available in more than 80 countries through exclusive distributors or the company’s direct salesforce. In March 2018, Establishment Labs received approval for an investigational device exemption (IDE) from the FDA and initiated the Motiva Implant clinical trial in the United States in April 2018. In addition to Motiva Implants, Establishment Labs’ product and technologies portfolio includes the Divina 3D Simulation System and other products and services.