Butterfly Network announced today that it named Dr. Todd Fruchterman as its new president & CEO, effective Feb. 1.
Fruchterman is set to take over for outgoing CEO Laurent Faracci, who stepped down this past weekend. Fruchterman assumes the role in advance of the closing of Butterfly Network’s announced merger with Longview Acquisition Corp., after which the combined business will go public.
“We are very excited Todd has joined Butterfly as president and CEO to lead the company at this critical stage. Todd brings together his unique qualifications and experience as an M.D., Ph.D. and proven business executive in public medical device companies, where he has successfully scaled disruptive technologies throughout his entire career,” Butterfly founder & chairman Dr. Jonathan Rothberg said in a news release. “Our most valuable assets are the people of Butterfly who innovate and serve on a daily basis, and I am pleased to support Todd as he builds upon a culture of purpose, joy and empowerment for our team and impact for patients and caregivers.”
When the companies announced the merger in November 2020, Faracci, who became CEO in March 2020, was slated to lead the combined company upon completion of the transaction, but now that role belongs to Fruchterman. As previously announced, Rothberg will serve as chairman of the combined company’s board and Longview chairman Larry Robbins will also become a member of the board.
“Laurent recognized the value of this transformative combination and was critical in moving the company toward this goal and providing a seamless transition for the next phases of growth,” Rothberg said. “We wish him well in his future endeavors.”
Fruchterman previously spent 10 years at 3M, where he recently served as president & GM of the company’s medical solutions division. He also spent five years as executive VP at Kinetic Concepts, having previously held roles at Johnson & Johnson, among other companies.
“It is a privilege for me to join Butterfly at this pivotal time in its pioneering effort to deliver affordable imaging solutions to the world,” Fruchterman said. “Together with the deep and skilled leadership team, and with the support of Jonathan and Larry, I look forward to empowering a full spectrum of medical professionals, worldwide, with Butterfly’s technology to help millions of patients achieve better, more cost-effective outcomes, and maintain wellness.”
Guilford, Conn.-based Butterfly develops the Butterfly iQ system, a transducer using semiconductor technology that can perform whole-body imaging using a single handheld probe. Powered by Butterfly’s proprietary Ultrasound-on-Chip technology, it connects to a mobile device and uses AI to deliver advanced imaging.
The Butterfly iQ platform is commercially available in more than 20 countries, the company said, including the U.S., Canada, Australia and much of Europe.