Covalon Technologies Names New CEO

Covalon Technologies Ltd. has a new leader.

The company’s Board of Directors has appointed Brent Ashton as CEO. Ashton has a wealth of experience in the medtech industry, having led large business units responsible for wound care, vascular access, infection prevention and pre-analytical diagnostics at 3M Health Care and BD (Becton Dickinson). With his broad experience in the sector, Ashton is poised to lead Covalon into its next phase of growth and development.
 
“On behalf of the Board, I am delighted to welcome Brent Ashton to Covalon as its new CEO,” Covalon Technologies Board Chair Amir Boloor stated. “Brent’s extensive medtech industry expertise specifically as it relates to our products and end-markets as well as his strategic leadership and demonstrated track record of driving both top and bottom-line growth will play a crucial part in fast-tracking Covalon’s growth journey. As we remain committed to fortifying our operations and prioritizing both profitability and sustained growth, Brent’s valuable contributions will be instrumental in achieving our strategic objectives.”
 
Ashton is a seasoned executive with more than 25 years of experience. At BD, he most recently was vice president and general manager responsible for the Specimen Management Business Group (best known for the Vacutainer brand of blood collection tubes and needles). Prior to BD, Ashton spent 13 years at 3M Health Care in roles that ranged from Global Business director to Business Unit vice president. His most recent role at 3M Health Care involved leading commercial and cross-functional efforts for the Patient Preparation and Management Business Unit with greater than $2 billion in worldwide revenue focused on vascular access, securement, patient monitoring, device reprocessing, patient warming and surgical infection prevention businesses.

Ashton is a graduate of the Ivey School of Business at Western University in London, Ontario, Canada, with a bachelor of arts degree in honors business administration (marketing and international).
 
In connection with Ashton’s appointment, the Board has accepted the resignation of Interim CEO Amir Boloor and appointed him as executive board chair. In his new role, Boloor works closely with the board, Ashton, and Covalon Technologies’ management team.
 
Ashton will be granted 800,000 stock options that will vest equally over four years at an exercise price equal to the greater of the market price of the company’s common shares at the date of grant and $1.50 per share. 

“I am extremely excited about the opportunity to lead Covalon and its team to further success,” Ashton said. “Covalon has exceptional medical products that make a real difference to patients and the clinicians who treat them. As CEO, I look forward to meeting the needs of our customers and supporting our team as we deliver on our strategic priorities and drive both long-term growth and value creation for our shareholders.”
 
Covalon Technologies Ltd. is a patient-driven medical device company with a portfolio of patented technologies and solutions for advanced wound care, infection prevention, and medical device coatings. Its solutions are designed for patients and made for care providers. Covalon leverages its patented medical technology platforms and expertise by developing products that are sold under Covalon’s name; and developing and commercializing medical products for other medical companies under development and license contracts. The Company is listed on the TSX Venture Exchange, having the symbol COV and trades on the OTCQX Market under the symbol CVALF.