GLUCOTRACK ANNOUNCES THE APPOINTMENT OF LUIS MALAVÉ TO CHAIR OF THE BOARD OF DIRECTORS

Rutherford, NJ, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Glucotrack, Inc. (Nasdaq: GCTK) (“Glucotrack” or the “Company”), a medical device company focused on the design, development, and commercialization of novel technologies for people with diabetes announced today that Luis Malavé has been elected as Chairman of its Board of Directors, effective immediately.

“I can think of no better person to lead our Board during this exciting and pivotal time for Glucotrack,” said Andrew Sycoff, member of the Board of Directors. “With a deep commitment to the mission and values of the organization, Luis will be an invaluable strategic leader for the continued growth of the company.”

Mr. Malavé brings more than 30 years of leadership experience in the MedTech industry, primarily in diabetes management, spanning all company stages from private startups to large-cap publicly listed companies. He has extensive expertise in product development, operations, marketing, strategic partnerships, and US FDA regulatory strategy.

Mr. Malavé currently serves as President of EOFLOW CO. Ltd., a company listed on the Korea Stock Exchange that has developed a wearable disposable insulin pump. Prior to that, Mr. Malavé was the President and CEO of Palyon Medical, maker of an implantable drug-delivery system that spun out from German medical-technology giant Fresenius SE. Prior to Palyon, he spent nearly a decade at insulin pump maker Insulet Corp., joining as its Senior Vice President of Research, Development and Engineering in the first year and as Chief Operating Officer as Insulet grew to a multi-billion dollar public company. He also held various senior management positions at MiniMed, fueling its growth innovation and growth to eventual acquisition by Medtronic.

“I am honored to take on this important role,” said Mr. Malavé, who has served on the Glucotrack Board since 2021. “Glucotrack has an innovative and compelling technology that will address unmet needs and expand patient choice in the diabetes market. I look forward to working with the Board and the leadership team to further strengthen the company's foundation, to build out its operational capacity, to advance the clinical program, and to continue to create value for all our stakeholders and patients with diabetes.”