News Releases

RxFunction Announces Leadership Change

September 25, 2020

EDEN PRAIRIE, MN, — RxFunction, Inc., announced today that its Board of Directors has appointed Mary Anderson to replace Tom Morizio as the Company’s Chief Executive Officer. In a statement to the Company’s shareholders, the Board thanked Mr. Morizio for his energy, dedication and many contributions as CEO of the Company since 2017.

Commenting on the appointment of Ms. Anderson to the Company’s top executive position, the Board said Ms. Anderson possessed the unique combination of company knowledge, having served as RxFunction’s Chief Financial Officer and VP of Reimbursement since 2018, coupled with successful start-up experience, necessary to lead the talented team at RxFunction and help accomplish the Company’s operational and financial objectives. Ms. Anderson will also replace Mr. Morizio on the Company’s Board of Directors.

Ms. Anderson previously served as CFO and Vice President of Internal Operations at Advanced Respiratory Inc., which was acquired by Hill-Rom in 2003; and as Vice President of Reimbursement of Tactile Medical through its successful IPO in 2016 and for one year thereafter. She brings more than 25 years of experience driving adoption of new technologies through a direct-to-patient business model to this leadership role.

In responding to her appointment, Ms. Anderson stated, “Tom Morizio is a friend and I have learned a lot from working with him over the past two plus years. I continue to believe that Walkasins is one of the most exciting innovations I have seen in my almost 30 years of medical technology development. I look forward to using all of those lessons and experiences, along with a great team, to make RxFunction a success.”

The Board’s statement went on to say that despite the current challenging conditions of the healthcare industry, the Board and staff at RxFunction remain committed to the mission of designing and bringing to market medical technologies that restore balance, increase mobility, and enhance the confidence of the Company’s patient-customer base. The Company’s first manuscript from the long-term clinical trial, walk2Wellness, was recently submitted for early publication in a leading Neurology journal. On August 28, 2020, the Company was awarded a $1.1M multi-year rehabilitation research and development project by the Department of Defense to develop a system leveraging Walkasins sensory prosthetic technology to perform advanced balance and gait training for members of the military utilizing artificial limbs. That project will be conducted in collaboration with Liberating Technologies Inc., part of Össur (a world leader in prosthetic technology). The Company also recently launched a number of direct-to-patient marketing campaigns through various social media outlets, which include short, informational videos that are also available on the Company’s website at www.rxfunction.com.

About RxFunction, Inc.

RxFunction™ is a medical device company with a mission to design and market medical technologies that restore balance, increase mobility, and enhance confidence for patients at risk of falling. Privately held and headquartered in Eden Prairie, Minnesota, RxFunction created the Walkasins® lower limb sensory prosthesis, building upon patented technology developed by co-founder and scientist Lars Oddsson, PhD. Development of Walkasins was supported by Small Business Innovation Research grants from the National Institutes of Health (AG040865) and the product is manufactured in Minnesota.