Dallas’ Spectral AI Appoints Its CFO as CEO and Board Member; Expands GC Role

Peter Carlson joined Spectral AI as CFO in January following the company’s debut on the NASDAQ Global Market. The company is transitioning from a late-stage development phase toward commercialization as it navigates the forefront of AI-driven wound care technology.

Dallas-based Spectral AI Inc. has named current chief financial officer Peter M. Carlson as its new chief executive officer.

Spectral AI, the artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatments in wound care, said Carlson succeeds Co-Founder Wensheng Fan as CEO.

After 14 years with Spectral AI, including nearly four as CEO, Fan is transitioning to chief innovation strategist and senior adviser to the CEO. 

Newly appointed CEO Carlson joined Spectral AI as CFO in January following the company’s debut on the NASDAQ Global Market.

Board Chair Richard Cotton says the company is transitioning from a late-stage development phase toward commercialization as it navigates the forefront of AI-driven wound care technology.

In a statement, Cotton praised Carlson’s contributions and leadership skills, saying, “In his short time here, [he’s] already distinguished himself as a skilled and experienced leader and a tremendous asset to our team.”

Cotton also welcomed Vincent Capone, Spectral AI’s general counsel and corporate secretary, to an expanded role that “leverages his extensive experience with life science and technology companies across legal, financial, and accounting disciplines.”

Capone will assume the additional role of chief financial officer.

From left, Spectral MD CEO and Co-Founder Wensheng Fan will be succeeded by incoming CEO Peter Carlson and General Counsel Vince Capone, who will extend his role. [Photos: Spectral MD]

Aiming to ‘deliver on Spectral AI’s full potential’

Spectral said the newly appointed CEO Carlson is an accomplished executive with a strong record of driving growth, along with operating and financial excellence, at times of transformation for numerous publicly traded companies, including at two Fortune 50 companies and at MiMedx Group Inc., an innovation leader in advanced wound care.

In a statement, Carlson expressed his enthusiasm for leading Spectral AI through “this pivotal period of opportunity and value creation.”

The newly appointed CEO aims to leverage the company’s “breakthrough diagnostic technology” and its talented team to drive growth. “We redefine the standard of care for burns and diabetic foot ulcers,” he said, emphasizing the company’s commitment to advancing medical treatment.

Carlson sees the company’s current focus on burns and diabetic foot ulcers as “just the start” of what Spectral AI’s technology can address. “We believe these indications are just the start of what can be addressed with Spectral AI’s predictive clinical insight technology,” he said.

“I look forward to building on the team’s impressive work to date and lending my experience to ensure we establish the operating and financial foundation that is necessary to deliver on Spectral AI’s full potential,” he said.

Fan said he’s looking forward to the company’s future.

“It has been a privilege to lead Spectral AI since 2020 and work alongside among the brightest minds in the industry over the past 14 years,” he said. “Together, we have created an industry-leading innovator.”

In a statement, Fan said he’s proud of everything the team has accomplished — and firmly believes that “Spectral AI’s momentum is just beginning.”

Fan said Carlson is the “right person” to serve as CEO as the company progresses from R&D to commercialization,” adding that he plans to support the new CEO as an advisor while continuing a focus on Spectral AI’s innovation.

The company also announced preliminary research and development revenue of roughly $18 million for the year ended Dec. 31. Spectral reaffirmed preliminary revenue guidance of approximately $28 million for full year 2024.

Quincy Preston contributed to this report. 

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