Hamilton Thorne Appoints Francesco Fragasso as CFO

BEVERLY, Mass. and TORONTO, July 12, 2022 (GLOBE NEWSWIRE) -- Hamilton Thorne Ltd. (TSX-V:HTL), a leading provider of precision instruments, consumables, software and services to the Assisted Reproductive Technologies (ART), research, and cell biology markets, today announced the appointment of Francesco Fragasso as Chief Financial Officer, effective on or about September 1, 2022. Michael Bruns will retire as CFO on that date.

“We are delighted to have Francesco join us as our CFO,” said David Wolf, President and Chief Executive Officer. “As Hamilton Thorne enters a new stage of growth, we welcome the opportunity to add individuals with operational experience at larger and more diverse organizations to our team. I look forward to working closely with Francesco as Hamilton Thorne continues growing its business.”

Mr. Fragasso currently serves as the Chief Financial Officer of Fluence Corporation (ASX:FLC), a provider of water and wastewater treatment solutions. He is responsible for all aspects of the Company’s global financial operations, reporting, accounting, treasury, administration, planning, and internal controls. Prior to joining Fluence, he served as CFO for Desalitech, a reverse osmosis technology company, where his focus included preparing the company for a sustainable growth prior to its acquisition by DuPont. He has also served as CFO and VP of Operations for Nuvera Fuel Cells, Inc. (part of Hess Corporation Group), a developer and manufacturer of multi-fuel processing systems. During his ten years at Nuvera, he held several executive positions and played a critical role in developing and implementing the company’s global strategy. Prior to Nuvera, Mr. Fragasso spent six years in public accounting and corporate finance with Deloitte.

Mr. Wolf continued, “I would like to personally thank and recognize Michael Bruns for his significant and continued contributions to Hamilton Thorne. We grew during his tenure from a niche ART equipment provider with under $7 million of revenues to one of the leaders in our field. Even though Michael is retiring as CFO, he will continue to serve the Company as a valued member of our growing finance group.”

Mr. Fragasso received his Bachelor and Master’s Degrees in Business and Finance from Universita' Bocconi, Italy, and an MBA from Boston University School of Management.

About Hamilton Thorne Ltd. (www.hamiltonthorne.ltd)

Hamilton Thorne is a leading global provider of precision instruments, consumables, software and services that reduce cost, increase productivity, improve results and enable breakthroughs in Assisted Reproductive Technologies (ART), research, and cell biology markets. Hamilton Thorne markets its products and services under the Hamilton Thorne, Gynemed, Planer, Tek-Event, IVFtech, and Embryotech Laboratories brands, through its growing sales force and distributors worldwide. Hamilton Thorne’s customer base consists of fertility clinics, university research centers, animal breeding facilities, pharmaceutical companies, biotechnology companies, and other commercial and academic research establishments.

Neither the TSX Venture Exchange, nor its regulation services provider (as that term is defined in the policies of the exchange), accepts responsibility for the adequacy or accuracy of this release.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.

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