Covalon’s Former Board Chair Regains Seat

Covalon Technologies Ltd. has named Abe Schwartz as board chair to succeed Amir Boloor, who stepped down as a director and executive board chair.

A member of the company’s board since 2008, Schwartz has previously served as chair from 2012 to 2020. He has been a successful healthcare and IT industry entrepreneur, CEO, and investor over the past 50 years and is Covalon’s largest shareholder. “We are delighted to have Abe step in as board chair,” Covalon Director/CEO Brent Ashton said. “Abe has a strong understanding of the company and is fully committed to driving long-term value creation for all our stakeholders.”

Joe Cordiano will continue to serve as the board’s lead independent director. A board member since 2008, he is a successful entrepreneur and corporate executive, and has previously served as Ontario Minister of Industry, Trade and Technology.

“On behalf of the entire Covalon board, I would like to sincerely thank Amir for all his tireless efforts on behalf of the company. Covalon is a much stronger company today because of Amir’s passionate efforts in guiding Covalon through difficult and challenging times including the COVID pandemic,” Schwartz stated. “Today, Covalon is profitable, debt free and has $18 million in cash. The board, executives, and staff of Covalon wish him well with all his future endeavours. I am excited to once again become board chair and am looking forward to working closely with the board, executives, and staff to introduce new initiatives and accelerate positive outcomes for the benefit of the many patients, clinicians, and hospitals who rely on Covalon’s lifesaving technologies; for Covalon’s dedicated and loyal staff; and for Covalon’s many stakeholders who are rightly looking forward to further success for Covalon.”

Covalon is a medtech company that improves patient outcomes through innovative and compassionate medical products and technologies. Its expertise spans advanced wound care, vascular access, and surgical consumables, with a strong focus on enhancing healing, reducing healthcare-associated infections (HAIs), and protecting skin integrity. The firm’s solutions are designed for patients and made for care providers. The company is listed on the TSX Venture Exchange (COV) and trades on the OTCQX Market (CVALF).