Magnolia Medical Technologies (Magnolia Medical or MMT) is seeking a Chief Financial Office to join our amazing team. Magnolia Medical is an emerging growth, commercial stage medical device company developing products and solutions that address critical challenges for healthcare systems globally. The company’s flagship product, the innovative and broadly patented Steripath® blood collection system, is the only FDA-cleared device on the market indicated to significantly reduce false positive blood cultures (the ‘standard of care’ blood test for sepsis).

The Chief Financial Officer will be a key member of the senior leadership team and will have primary responsibility for all finance functions and other functions, as deemed appropriate. 

Specific aspects of the Chief Financial Officer’s duties will include:

• Leading Accounting, Finance/FP&A, IT and HR by setting the overarching strategy and defining key programs and initiatives; inspiring and motivating the team to consistently meet short and long-term goals.
• Managing investor relations and securing expansion financing, working closely with the Chief Executive Officer negotiating terms of investment as needed.
• Creating internal controls in compliance with SOX and GAAP.
• Providing ongoing financial oversight and reporting, including key performance indicators (KPIs), sales pipeline metrics and forecasting, financial packages, etc. Presenting regular updates to the leadership team on financial results, cash flow, commercial trajectory and all key drivers that impact company performance and value.
• Developing and maintaining financial models to aid the leadership team in forecasting and key decision making.
• Participating in board meetings as a key member of the leadership team.
• Working closely with the Vice President, Operations to devise and implement production strategies and contract manufacturing partnerships to reduce COGs.
• Partnering with functional leads in sales, marketing, clinical, operations and product to set and maintain budgets.
• Building and developing the organization by hiring top talent, fostering an environment of accountability while actively mentoring and developing the team.

About you

Seeking a seasoned business professional with exceptional financial and operational acumen who brings experience from the regulated healthcare ecosystem, ideally from a high-volume manufacturing environment. This individual should have experience guiding a company through a significant growth phase and should have played a major role in fundraising and interacting with investors. While exposure to mergers and acquisitions as well as negotiating strategic partnerships are not essential qualifications, these additional experiences will be looked upon favorably.

The Chief Financial Officer must have a strong foundation in financial analysis and forecasting, accounting and controls, risk management, budget preparation, as well as a grounding in operations. The requirement is for a person of substantial technical knowledge and analytical rigor who also has well-rounded experience as a strategic and operational businessperson. Expertise in both private and public company environments is highly desirable, as is experience in taking a company public.

Specific aspects of the Chief Financial Officer’s required skills and experience include:

• 15 years' experience in Finance and Accounting, including 10 years in leadership roles. 
• Proven track record working within revenue stage medical technology or diagnostics companies. Well versed in balancing the strategic and tactical work that comes with early stage environments.
• Skilled in engaging the investor community with expertise in public equity markets and analyst relationship management.
• Experience successfully structuring financing packages (private and public) for a variety of different businesses and situations, using strong negotiating and influencing skills. 
• Expertise in SOX compliance with hands on experience establishing balanced internal controls.
• Capable leader who enjoys developing the team and driving rapid organizational growth.
• Shares a passion for MMT’s mission and an entrepreneurial mindset.

More about Magnolia Medical Technologies

Magnolia Medical Technologies develops, manufactures and markets innovative blood and bodily fluid collection devices to facilitate significant improvements in the accuracy, consistency and predictability of critical laboratory tests.

Dr. Richard Patton, the company’s co-founder and Medical Director, invented and patented the Initial Specimen Diversion Technique (ISDT™) and Initial Specimen Diversion Device (ISDD®) for blood culture collection and contamination prevention, and authored the seminal peer-reviewed publication on this technique published in the Journal of Clinical Microbiology in 2010.

The company’s flagship product, Steripath® Initial Specimen Diversion Device® for blood culture collection and contamination prevention, has been clinically proven in 17 clinical studies including 5 peer-reviewed publications to virtually eliminate the preventable error of blood culture contamination and false positive results for the diagnosis of Sepsis – delivering a reduction in false positives of up to 92% with 12-month sustained contamination rates as low as 0.2% and an average annualized cost savings of ~$1M.

Magnolia is establishing the new standard for blood culture integrity and sepsis testing accuracy with a mission to change national blood culture collection guidelines and contamination benchmarks.

The company has amassed an intellectual property portfolio including more than 70 issued method, apparatus and design patents with more than 50 additional patent applications pending. The total potential market for Magnolia’s technology exceeds $2.0 billion annually.

Magnolia Medical is committed to the continued development and successful marketing of innovative products that will transform the way healthcare is practiced around the world. The company supports this effort by offering competitive compensation, incentive packages, benefits and career growth opportunities to the most qualified candidates in the marketplace. Magnolia Medical Technologies, Inc. is an equal opportunity employer.

For more information, visit magnolia-medical.com

* Must be willing to submit to a criminal background check upon offer of employment.

** As a condition of employment with Magnolia Medical Technologies, you are required to provide proof that you are fully vaccinated against COVID-19 or qualify for a reasonable accommodation.