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Waytek Announces CEO Retirement and Leadership Transition

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Waytek CEO Charlie Kanan will remain CEO until Q1 of 2025 and Board Chair through 2026 while working with the Board on a smooth leadership transition.

CHANHASSEN, Minn., Aug. 7, 2024 /PRNewswire-PRWeb/ — Electrical components distributor Waytek, Inc. announced today that Charlie Kanan, CEO and Board Chair, has notified the Board of Directors of his intention to retire from Waytek on December 31, 2026. Kanan will work with the Board on a smooth leadership transition.

“My deepest thanks go to both generations of the Larson family and all the employees who have made our success possible. I look forward to helping see Waytek through this important leadership change.”

Kanan, who has been Board Chair and CEO at Waytek since 2012, has presided over company milestones including revenue increase from $32 million to $87 million, doubling the number of employees, and winning a Minnesota Family Business Award in 2020. He also helped steer Waytek through the pandemic years and world supply chain disruptions, avoiding employee layoffs and overseeing rapid business growth during turbulent economic times.

“I’d like to thank Charlie on behalf of the owners and the Board for his hard work over the past 12 years,” said Mike Larson, Chief Operations Officer and a co-owner of Waytek. “Charlie has been essential in furthering our mission of providing an exceptional customer experience while growing revenue and fostering a customer-focused work force. We appreciate his willingness to play a vital role in ensuring a smooth transition to a new CEO.”

Kanan will continue to lead the company and assist with the transition with the goal of hiring a new CEO by the end of Q1, 2025. Once the transition to a new CEO is complete, Kanan will continue in his role as Board Chair until December 31, 2026.

“I’ve thoroughly enjoyed working for such a great company,” said Kanan. “My deepest thanks go to both generations of the Larson family and all the employees who have made our success possible. I look forward to helping see Waytek through this important leadership change, and starting the next phase of my life which will include spending more time with my family and grandchildren.”

Kanan and the Waytek Board have formed a search committee and retained independent consultant Lyman Executive Search to lead the search, which is already underway.

About Waytek

Waytek, Inc. is a customer-driven distributor of automotive wire and DC electrical components serving OEMs (original equipment manufacturers), wire harness manufacturers, and upfitters across North America. A family-owned business founded in 1970, Waytek commits to providing exceptional service to our customers, shipping more than 99.5 percent of in-stock orders the same day.* We partner with product manufacturers known for premier quality and take pride in creating a consistent sense of purpose and unity for our employees. With a mission to provide an exceptional customer experience, we do our part so our customers can do theirs.

*Orders entered by 3:30 p.m. Central Time.

Media Contact

Steve Green, Waytek, Inc, 1 612-364-5650, steve.green@waytekwire.com, www.waytekwire.com

View original content to download multimedia:https://www.prweb.com/releases/waytek-announces-ceo-retirement-and-leadership-transition-302215701.html

SOURCE Waytek, Inc

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FDA authorizes the first AI-driven MRI solution for safer Alzheimer’s treatment

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BOSTON and LEUVEN, Belgium, Nov. 14, 2024 /PRNewswire/ — Why this news will impact the lives of people affected by Alzheimer’s disease:

The first disease-modifying therapies for Alzheimer’s disease have come to the market over the previous years – providing hope to the millions affected by Alzheimer’s disease.These therapies have been linked to the development of specific brain abnormalities known as Amyloid-Related Imaging Abnormalities (ARIA), which, although rare, can lead to neurological complications.Regular brain MRI scans are needed to assess ARIA, but the detection and severity scoring is complex and time-consuming.The FDA authorizes icobrain aria as the first and only AI solution to detect, diagnose, and monitor ARIA for individuals with Alzheimer’s disease

On November 7th 2024, the U.S. Food and Drug Administration (FDA) granted icometrix clearance for icobrain aria, the first and only AI software approved for detecting, measuring and grading amyloid-related imaging abnormalities (ARIA), a potentially harmful side effect of new amyloid-targeting therapies. A large study, needed for FDA clearance, demonstrated that the use of icobrain aria significantly increases the accuracy of ARIA assessments by radiologists and hence allows for safer use of new amyloid-beta targeting therapies for Alzheimer’s disease patients.

“Amyloid-lowering treatments represent an important
advance in the treatment of Alzheimer’s disease but
they are associated with a risk of brain swelling and
hemorrhage called ARIA. New standardized tools are
needed, such as icobrain aria, to assist radiologists and
treating clinicians in detecting and managing ARIA to
optimize patient safety.

I am excited that icobrain aria has received FDA
approval, clearing the way for wider use in clinical
practice.”

Prof. Stephen Salloway 
Butler Hospital and
Professor of Neurology and P
sychiatry at the Warren
Alpert Medical School of
Brown University in
Providence, Rhode Island

The slow adoption of Alzheimer’s treatments amid safety concerns

The FDA’s nod for icobrain aria comes at a time when much-needed new Alzheimer’s treatments are reshaping care options in the United States. The first breakthrough in Alzheimer’s disease treatment was in 2021 when aducanumab (Aduhelm) became the first FDA-approved drug intended to slow Alzheimer’s progression by reducing amyloid plaques in the brain. This breakthrough, making headlines worldwide, was followed by other therapies, including lecanemab (Leqembi) and donanemab (Kisunla), each designed to target amyloid buildup, which is believed to play a role in Alzheimer’s disease. Together, these treatments represent a shift from symptom management to disease-modifying approaches, offering hope to millions of patients and their families.

However, these promising drugs also carry risks, one of which is the development of ARIA (amyloid-related imaging abnormalities), a complication that can cause lesions in the brain, including edema, swelling and/or hemorrhages. According to the FDA, the prescription of these amyloid-targeting therapies requires intensive ARIA monitoring with repeated magnetic resonance imaging (MRI) brain scans to detect and assess these changes before they pose serious neurological risks. Until now, identifying and evaluating ARIA has been a labor-intensive process, involving detailed, time-consuming, and visual comparisons of the brain MRI scans by radiologists.

FDA nod for AI software to ensure patient safety

icobrain aria is a unique deep-learning-based AI solution that was trained on thousands of brain MRI scans to accurately detect, diagnose, and monitor ARIA and its severity. The software works in the background and automatically generates an overview report on the ARIA assessment for radiologists using normal clinical MRI scans.  

“icobrain aria was thoroughly evaluated in large reader
studies. It was demonstrated that the assistance of AI
significantly improved radiologists’ ability to detect and
classify ARIA, boosting both diagnostic sensitivity and
accuracy, and adding a critical safety option for patients
undergoing amyloid-targeting therapies.”

Prof. Jeffrey Cummings 
Director of the Chambers-
Grundy Center for
Transformative Neuroscience
at University of Nevada, Las
Vegas

   

“We are thrilled to announce FDA authorization of the first-
ever computer-aided detection and diagnosis solution in
neuroradiology. The FDA holds devices in this category to
exceptionally high standards of evidence and performance,
and this approval reflects the strong evidence behind
icobrain aria’s ability to help radiologists assess important
safety events that can impact treatment and patient care.”

Dr. Dirk Smeets 
CTO icometrix

Impacting care for people with Alzheimer’s disease

This FDA clearance is a big step forward in Alzheimer’s care, demonstrating how technology can help bring safe and effective treatments to more people. With icobrain aria, physicians now have a powerful tool that helps them make informed treatment decisions, ensuring that patients receive the right care at the right time. This is a clear example of how advanced technology can make a difference in healthcare, supporting doctors and making important new therapies more widely accessible.

“For families facing Alzheimer’s disease, the new disease-
modifying therapies have brought renewed hope.

But to help as many people as possible, we do need to
standardize care pathways and make sure we have access
to cognitive tests, blood biomarkers, and imaging exams
that can ensure a timely diagnosis and a safe drug
prescription.

Thanks to the FDA clearance of icobrain aria, Alzheimer’s
therapies are more accessible and safer for patients, as it
provides clinicians with the tools they need to make
informed, effective treatment decisions.”

George Vradenburg 
Chairman of
UsAgainstAlzheimer’s

About icometrix

icometrix is a global leader in AI-driven software for brain imaging, transforming MRI and CT scans into actionable data for neurological conditions such as Alzheimer’s, multiple sclerosis, and Parkinson’s disease. Used in over 300 hospitals worldwide, icobrain technology is setting new standards in precision brain health, supporting doctors with tools that are FDA-cleared in the U.S. and approved in regions across the globe. With a commitment to advancing safe, effective treatments, icometrix partners with top pharmaceutical and health tech companies to bring innovative solutions to those who need them most.

Media Contact: marketing@icometrix.com or
CEO and CTO
Wim Van Hecke – CEO
wim.vanhecke@icometrix.com
+32 484 92 73 00

View original content to download multimedia:https://www.prnewswire.com/news-releases/fda-authorizes-the-first-ai-driven-mri-solution-for-safer-alzheimers-treatment-302305479.html

SOURCE icometrix

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Anduin Launches AI-Powered Data Extraction Service to Transform Private Market Workflows

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SAN FRANCISCO, Nov. 14, 2024 /PRNewswire/ — Private market fund managers face a well-known challenge: offline investor data. Handwritten forms, scanned documents or typed PDFs clog workflows, delay onboarding, and increase the risk of costly errors.

Anduin’s Data Extraction bridges offline and digital, empowering GPs with fast, precise LP data for seamless operations.

Today, Anduin announces the launch of its Data Extraction Service, designed to remove these inefficiencies and accelerate the industry’s digital transformation.

Built on Anduin’s proprietary platform, this solution combines advanced Optical Character Recognition (OCR) technology with human verification to maximize data precision. It transforms key investor documents, including subscription agreements, tax forms, and contact sheets, into actionable digital records that power LP onboarding and multiple communication workflows.

A Faster Path to Digital Transformation
“Anduin’s Data Extraction Service empowers fund managers to meet LPs where they are, delivering fast and precise digital data, regardless of the submission format,” said Eliot Hodges, CEO of Anduin. “While institutional LPs are transitioning toward fully digital workflows, behaviors take time to evolve. This service will bridge the gap, giving GPs an immediate, efficient solution while supporting their LP preferences.”

Delivering outcomes that matter:

Faster fundraising: Converts offline subscriptions, including AML/KYC documents, into a live fund on Anduin, enabling GPs to apply a unified review process.Complete LP data coverage: Extracts data from wirehouses, RIAs, and institutional channels, consolidating 100% of the LP base into a single platform for full transparency and control.Customizable outputs: Delivers export-ready data with custom templates and seamless integration with CRMs, reporting tools, and other systems.Exceptional accuracy: Flexibly handles handwritten forms, PDFs, and more with 90%+ fidelity.

Now available, Data Extraction Service joins Anduin’s comprehensive product suite, including the award-winning Fund Subscription, Data Room, and Investor Data Management platform. Together, these solutions equip fund managers to streamline operations, strengthen LP relationships, and stay ahead in an increasingly competitive market.

About Anduin
Anduin is the leading digital platform to manage the entire fund lifecycle and LP relationships, from first contact to fund closing and beyond. Our ecosystem has raised over $106 billion in global capital by helping 48,000+ investors subscribe to 850+ funds.

Learn more at anduintransact.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/anduin-launches-ai-powered-data-extraction-service-to-transform-private-market-workflows-302305489.html

SOURCE Anduin Transactions

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The First China-ASEAN AI-empower Cross-border Digital Marketing Competition Grand Launched in Bangkok

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BANGKOK, Nov. 14, 2024 /PRNewswire/ — The highly anticipated first China-ASEAN AI-Empower Cross-Border Digital Marketing Competition was launched at Chulalongkorn University in Bangkok, Thailand on the morning of November 12th. This competition serves as a prominent highlight within in the series of activities of the Guangxi New Silk Road New Year’s Eve E-commerce Festival, signifying a significant stride forward in digital economy cooperation between China and ASEAN countries.

Under the guidance of the Department of Commerce of Guangxi Zhuang Autonomous Region and China Council for the Promotion of International Trade Guangxi Committee, this competition is hosted by China-Thailand Institute of Modern Craftsmanship of Cross-Border Business, which is led by Guangxi International Business Vocational College, jointly built by Chachoengsao Vocational College and other institutes. Guangxi Tus Innovation Cross-Border E-commerce Co., Ltd. co-organized this competition. This competition brings together a hundred of elite teams from China, Thailand, Malaysia, Vietnam, and other ASEAN countries to demonstrate their skills in the fields of AI and cross-border digital marketing.

At the opening ceremony, Dr. Thitima Rojwatcharapiban, Director of Bureau of TVET Personnel Competency Development, Ms. Liu Jieying, Principal of Guangxi International Business Vocational College, Ms. Napak Worachirapanchaya, President of ASEAN Business Association, Song Tienong, Guangxi Tus Innovation Cross-Border E-commerce Co., Ltd., etc., attended and delivered speeches both online and offline. Their participation transcended geographical boundaries, fostering strong bonds between China, Thailand, and even the entire ASEAN region while injecting a vibrant atmosphere into the competition.

Professor Ma Zhencheng from Chulalongkorn University, as a distinguished guest, delivered an exceptional presentation on the topic of ‘AI Empowerment in Creating a New Marketing Ecology’. This insightful discourse not only provided an in-depth analysis of the extensive applications and profound impact of AI technology in the realm of digital marketing but also infused cutting-edge perspectives and revelations into the competition. Moreover, representatives from esteemed organizations such as the Chinese Academy of Sciences Innovation Cooperation Center (Bangkok), Thai Chinese New Generation Business Association, and Thai-China Commerce Association graced this momentous occasion with their presence. Their participation not only underscores the remarkable influence of this competition but also establishes a robust foundation for future collaborations and exchanges.

The competition aims to jointly promote the process of regional economic integration, actively cultivate new driving forces for regional development, and enhance exchanges and cooperation between China, Thailand, and other ASEAN countries in the field of international vocational education. It also seeks to facilitate two-way empowerment of new quality productivity and youth exchanges. This initiative aligns with the theme ‘Strengthening Connectivity and Resilience’ of this year’s ASEAN Summit and serves as a vivid practice of deepening exchanges and cooperation between China and ASEAN countries under the Belt and Road Initiative.

The launch of the first China-ASEAN AI-Empower Cross-border Digital Marketing Competition signifies a significant stride in the collaboration between China and ASEAN nations within the realm of digital marketing. The competition will embrace the principles of openness, inclusivity, cooperation, and mutual benefit, while further fostering exchanges and cooperation between China and ASEAN countries in the field of digital economy. By organizing this competition, we aim to ignite more sparks of innovation, nurture exceptional talents, jointly embark on a new chapter of China-ASEAN cooperation, and script a fresh tale of regional economic prosperity and development!

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/the-first-china-asean-ai-empower-cross-border-digital-marketing-competition-grand-launched-in-bangkok-302305414.html

SOURCE Guangxi Tus Innovation Cross-Border E-commerce Co., Ltd.

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