Medical device maker Insulet taps industry veteran Flavia Pease as CFO

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(Reuters) – Medical device maker Insulet on Tuesday named former Charles River Laboratories executive Flavia Pease as its new chief financial officer, succeeding Ana Maria Chadwick effective September 30.

Insulet also said it expects to exceed its previous third-quarter total revenue forecast of 22% to 25%, driven by strong new customers for its wearable insulin pumps in both U.S. and international markets.

Pease, an industry veteran, had held the role of finance chief at contract research firm Charles River Laboratories for three years.

Prior to that, she spent over 20 years at Johnson & Johnson, working across different medical devices and pharmaceutical segments.

At least two analysts said Pease is a strong fit for the role due to her close connection with the company and her extensive experience in the industry. She has been a member of Insulet’s board and audit committee since January 2024.

Chadwick will transition to a senior advisor role to ensure a smooth handover, Insulet said.

The company’s updated forecast is due to the expanded approval for its Omnipod, which offers an alternative to conventional insulin pumps by eliminating the need for multiple daily injections for people with insulin-dependent diabetes.

Its Omnipod 5 device was cleared for use in both type 1 and type 2 diabetes patients last year.

Analysts on average project third-quarter revenue will grow 24.47% to $677.02 million, according to data compiled by LSEG.

Insulet plans to provide further details on its third-quarter results and update its full-year outlook during its quarterly earnings call on November 6.

Charles River said it has commenced searching for its next CFO. Meanwhile, chief accounting officer Michael Knell will serve as an interim finance chief.

The company also reaffirmed its 2025 revenue outlook.

(Reporting by Siddhi Mahatole in Bengaluru; Editing by Vijay Kishore)